The Sri Lanka Automobile Component Manufacturers Association (SLACMA) congratulates the NPP leader Anura Kumara Dissanayake on being elected as the new President of Sri Lanka. The association looks forward to NPP’s futuristic industrial policies to uplift the automobile industry. “It is commendable to see automobile assembly and automobile component manufacturing included in the NPP Policy Statement,” said the association’s President Dimantha Jayawardena.

“Manufacturing automobile components has been chosen as a thrust industry,” he said. “The Standard Operating Procedure (SOP) to promote the local industry with domestic value-addition of locally manufactured components has helped the local manufacturers to enter global supply chains. The SOP makes it mandatory to use local components. To do this, local manufacturers have to go through stringent manufacturing and quality standards of the Original Equipment Manufacturers (OEMs).”

He also said that currently there are global brands assembling in Sri Lanka. The project  is monitored by the Ministry of Industries with a Cabinet appointed Committee with representatives from the Ministry of Finance, Sri Lanka Customs, Import Control Department, Ministry of Transport, Department of Motor Traffic and several other government institutions that monitor compliance.

“Currently Sri Lanka exports USD 200 million worth of auto components, USD 200 million worth of automobile related wire harnesses and other electric items, and USD 400 million worth of rubber components, tires and solid tyres, bringing the total to around USD 800 million in the sector. The Ministry of Industries has a 20-year master-plan. With the increase of electric vehicle (EV) manufacturing, SLACMA is looking into promoting Sri Lanka as a wire-harness and other electric component manufacturing hub for electric vehicles. With the NPP policy statement clearly defining the development of automobile manufacturing and component manufacturing, SLACMA and its 60-manufactuer members are very positive about the future. SLACMA will continue to work with stakeholders and policymakers to promote the industry and make more export-oriented revenue by entering global supply chains,” he added. “The 10-year plan of the Ministry of Industries, the Export Development Board and the Board of Investment (BOI) is to achieve USD 3 Billion through exports from this sector. We are confident that this can be achieved.”