Business
GPV Lanka wins Gold Award at Taiki Akimoto 5S Awards 2019
GPV Lanka (Pvt.) Ltd won the TAIKI AKIMOTO 5S Gold Award 2019 under the large category presented by Japanese Sri Lanka Technical and Cultural Association (JASTECA).
What was in special about this achievement was that, GPV Lanka (Pvt.) Ltd. won the Gold Award in the first attempt while competing against several other large-scale well reputable organisations in Sri Lanka.
GPV Lanka (Pvt) Ltd. is a subsidiary of GPV International A/S Denmark.
GPV was founded in Denmark in 1961 and is today one of Europe’s leading electronics manufacturers. GPV is a global EMS-partner providing complex electronics, cable-harness, mechatronics and box-build solutions including design and engineering activities to customers worldwide within high mix / low-medium volume. GPV generates a revenue at about USD 460 million with around 3,700 employees and has production sites across Europe, Asia and the Americas. GPV Lanka (Pvt) Ltd is in the industry in Sri Lanka for more than 30 years and today it has 1,022 employees including 45 electronic engineers with a state-of-the-art manufacturing facility.
The company was recognized at the Sri Lanka Presidential Export Award consecutively for four years in 2015/16/17/18, under the electronic & electrical sector for highest foreign exchange earner.
JASTECA upholds the benchmark of excellence for companies practicing Japanese productivity concepts such as the globally accepted 5S system for organising, promoting efficiency, effectiveness and safety.
The award ceremony was held for the 24th consecutive year at the Grand Ballroom of Hotel Galadari on 22nd of August 2020 with a large gathering from representatives of all the award winners, JASTECA Members and the Chief Guest Mr.Toshihiro Kitamura, Minister Embassy of Japan Sri Lanka.
In the year 2016, Cabinet approval was granted for the establishment of a National Trade Felicitation Committee for the empowerment of the Trade Felicitation Agreement (TFA) of the World Trade Organization (WTO) and the inter-coordination of institutions in respect of the implementation of 36 obligations included therein. Sri Lanka has committed to implement the plan for implementation of trade facilitation during the period 2017-2030 thereunder.
Even though countries in the region have fulfilled a higher percentage of the overall commitment, Sri Lanka has only fulfilled about 37.4% of
the total commitment. Taking into consideration the prevailing situation, technical assistance has been requested from the Japan International Coordination Agency with the technical expertise of the International Trade Center to provide independent recommendations enabling the implementation of priority activities on a speedy basis after completion of the assessment of the trade facilitation measures.
Accordingly, “Roadmap for trade facilitation in Sri Lanka” and “Trade Facilitation Action Plan 2025-2028” have been prepared with the participation of about 200 public and private stakeholders.
The Cabinet of Ministers has approved the proposal presented by the
President to follow the said roadmap and implement the action plan.
The Cabinet of Ministers has approved the proposal presented by the President in his capacity as the Minister of Investment Promotion to sign the proposed non-financial Memorandum of Understanding between the Sri Lanka Export Development Board and the International Trade Center to commence an ‘ITC She Trades Hub’ in Sri Lanka to increase the participation and competitiveness in the businesses operated by women.
Once the ‘ITC She Trades Hub ‘ is established, the women entrepreneurs in Sri Lanka will be able to obtain the necessary training in the relevant topics, such as market and investment opportunities and the required technical assistance.
The Cabinet of Ministers has approved the proposal presented by the president to take steps to amend the Inland Revenue Act No. 24 of 2024 so as to enable the imposition of necessary legal provisions to implement the following reduction to the individual income tax structure effective 01-04-2025 as follows
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