Sri Lanka’s vehicle industry is in the spotlight as the government weighs the future of import restrictions. State Minister of Finance Ranjith Siyambalapitiya met with representatives from local vehicle assembly companies yesterday to discuss the impact of these restrictions and explore potential changes.
The meeting comes as it was revealed that over 44,000 vehicles, including motorbikes and cars, have been released to the market despite import limitations. This highlights the continued activity within the domestic assembly sector.
While the import restrictions are in place, local businesses are advocating for a balanced approach. They acknowledge the positive impact these restrictions have had on the local assembly industry, acting as a catalyst for growth.
Representatives emphasized the long-term vision for a strong domestic vehicle manufacturing sector. They stressed the need for sustained support and investment to achieve this goal.
Minister Siyambalapitiya reassured those present of the government’s commitment to empowering local businesses. The outcome of these discussions will likely influence the future of vehicle imports and the trajectory of Sri Lanka’s domestic vehicle assembly industry.