Press briefing of Cabinet Decision taken on 2024-03-25 (Subject to Confirmation at the next Meeting)

Promotion of registration of vessels under the Flag of Sri Lanka

- Registration of vessels is a major source of a large amount of foreign exchange inflow to the local economy and there is a potential to generate many direct and indirect employment opportunities. The proposal made by the Minister of Ports, Shipping and Aviation to call for Expressions of Interest from eligible local and foreign institutions for promotion of the registration of vessels under the Flag of Sri Lanka, and to evaluate such proposals by a Technical Evaluation Committee and select the most suitable institution based on the recommendations of a Procurement Committee, was approved by the Cabinet.