Approval has been granted by the Cabinet of Ministers for the promotion of the registration of ships under the Sri Lankan flag in a bid to explore the potential to generate direct and indirect employment opportunities.
The government states that ship registration is a major source of foreign exchange to the country’s economy.
As such, the Cabinet has 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.
Cabinet approval has also been received 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. (NewsWire)
