Press briefing of Cabinet Decision taken on 2019-02-26

Attracting the 'Multi National Players engaged in the Electrical and Electronic Machinery Industry

- The Electrical and Electronic Machinery Industry is the process of stepping into the Global Electronic Value Added Supply Chain and according to the Economic Cooperation and Development Classification of Manufacturing Industries, the field of Electronic and Electric Machinery Industry in the country falls under the category of the medium‑high technology and high technology industries. Accordingly, this includes the Automobile, Telecommunication, Consumer Electronics, Industrial Automation, Internet of Things (IoT) and many other verticals. The industrialists of this country in this field, have received the ISO certificate and carry on their activities subject to the required labour rules and the regulations.
The start‑up companies in research and development prototyping in the country are engaged in innovation and generating new products and in this context, it has become essential for the small and middle scale enterprises to integrate with the large companies. Accordingly, the proposal made by Hon. Malik Samarawickrama, Minister of Development Strategies and International Trade, to provide facilities for this type of enterprises to attract the multi‑national companies to integrate with them, was approved by the Cabinet.