Business
Cabinet nod to promote registration of ships under the Sri Lankan flag
The Cabinet of Ministers approved the proposal presented by the Minister of Ports, Shipping and Aviation to invite expressions of interest and proposals from qualified domestic and foreign institutions to promote the registration of ships under the Sri Lankan flag and to select the most suitable institutions on the recommendation of the Procurement Committee, consequent to the evaluation of the proposals by a Technical Evaluation Committee.
Ship registration can be a major source of foreign exchange to the country’s economy. It also has a potential to generate many direct and indirect employment opportunities.