High Tech Swiss firm eyes Sri Lanka for investment

Jun 11, 2018 (LBO) - KUK Electronics AG, a high technology swiss electronic manufacturer are exploring the the possibility of setting up a manufacturing plant in Sri Lanka with the objective of exporting their products. KUK Electronic AG, which was established in 1990 in Appenzell, Switzerland, operates production facilities in China, Slovakia, France, The Netherlands and Germany. Manuel Inauen,head of Business development KUK Electronics AG, had a meeting with Malik Samarawickrama, minister of Development Strategies and International Trade at the Parliamentary premises recently. KUK Electronic AG’s annual production includes the manufacture of over 200 million coils, over 1 million printed circuit boards and over 250,000 modules. Minister Samaraweera briefed the company on the advantages that Sri Lanka can offer overseas investors including a highly skilled workforce, excellent infrastructure and international market access through free trade agreements. He added that the current policy of the Government is to attract High Tech companies with a view of creating a diversified Sri Lankan export base.
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The visit of KUK Electronics AG is a direct result of the visit by the BOI reinvestment team comprising of  Duminda Ariyasinghe, director general of the BOI and  Mahinda Ramanayake, executive director (Investor Services) to Switzerland in September last year. This visit was in fact organized by another Swiss company, already established in Sri Lanka, Contrinex Ceylon (Pvt) Ltd and which also targeted similar Swiss export manufacturers with an interest in setting up manufacturing plants in Sri Lanka.