Ship breaking industry - open doors to new business opportunity

Abstract

Government of Sri Lanka desperately needs more and more economical, feasible and fruit full investment projects to enhance the economy of the country. Present growth rate of economy is nearly 8 per cent and to achieve the anticipated goals within next five years more and more new business projects are needed. To create the healthy environment for the investment government already started to develop the infrastructure facilities such as power generation, high ways and roads, air ports, harbours, telecommunication systems and transport sector. The aim of the government policy is to get the attraction of large amount of new investors to contribute to the national productivity. It is important to search for new industries which are not yet established in Sri Lanka to open the door to the modem business world. Selecting the type of the business organization, suitable location for the project, availability of capital, capacity and limitations and the resource availability are most important and with the correct decisions the pay back period can be minimized thus enabling the industry to operate successfully. With the development of new industries more job opportunities can be created and the unutilized resources can be utilized for fruit full production processes