Mar 15, 2012 (LBO) – Sri Lankan shipbuilder Colombo Dockyard has urged authorities to get rid of a war-time mentality and loosen regulations to allow business to grow amid a post-war economic boom. Colombo Dockyard managing director Mangala Yapa said the end of the 30-year ethnic war has opened up new business opportunities but growth was being hampered by archaic rules and war-time restrictions.
He said a continuous lacuna exists in Sri Lankaâ€™s capacity to cater to afloat repair requirements with the “security situation” being a “primary reason” for the lack of development in this area.
Colombo Dockyard, in which Japan’s Onomichi Dockyard Company has a majority stake, launched an ‘Afloat Repair Unit’ in 2009, the year the war ended.
The unit’s work was enhanced to extend to repairs in the eastern port of Trincomalee, with capacity to extend it to the new port of Hambantota in the south, Yapa told shareholders in the firm’s annual report.
“This enables the Afloat Repair Unit to work in all ports of Sri Lanka, which undoubtedly will be an added impetus to creating the apt environment for Sri Lankaâ€™s goal of becoming the marine hub of South Asia,” Yapa said.