The Ministry of Industries launched the Standard Operating Procedure (SOP) for local assembly of vehicles and automotive component manufacturing to encourage world renowned brands to locally assemble vehicles. This historic SOP launched yesterday by Prime Minister Mahinda Rajapaksa and Minister of Industries Wimal Weerawansa is expected to save over Rs. 300 billion annually from the import of vehicles automotive spare parts.
The SOP includes guidelines and standards for registration at the Department of Motor Traffic, BOI, Sri Lanka Customs and the Ministry of Industries and for the local assembly of vehicles.
Sri Lanka Automobile Service Providers Associations President Amal Piyathilake leading automobile industrialists in Anuradhapura and former Chairman of Anuradhapura Chamber of Commerce told ‘Daily News Business’ that in the past 10 years period a huge foreign exchange was being spent for import of various types of vehicles.
“Under these initiatives several international manufactures as well as local players will come forward towards the assembly of vehicles and automotive component manufacturing thus saving around Rs. 300 billion annually in future.”
The current local manufactures such as tyre, battery, exhaust components and cushion makers will also get bigger orders and also better prices due to this SPO initiative.”
This is part of the Presidents ‘’Made in Sri Lanka’’ vision which is going to be a turning point in the local vehicle industry. He said that Minister of Industries Wimal Weerawansa too should be lauded for obtaining the necessary clearance for this and implementing it.
Prime Minister Mahinda Rajapaksa in a message of felicitation states that by monitoring and regulating the local automobile industry bearing ‘’ made in Sri Lanka brand” would be able to enter the international vehicle Markel in accordance with the SOP there would be huge export marketing opportunities worth Rs. 900 - 1300 billion annually, for them.
President of the Sri Lanka Automotive Component Manufacturers’ Association Dimantha Jayawardena, said that the new SOP has been prepared in keeping with the highest standards around the world.
The SLCMA said it was currently in talks with seven world-renowned automobile companies, in order to supply locally-assembled and manufactured automobile components. “We expect more than 20,000 direct jobs and 25,000 indirect jobs to be created within the next two to three years.”
“Prospective local assemblers should be given the flexibility during the first two years to invest and start operations and adhere to the SOP guidelines within a two-year time-frame.”
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