Contrinex, a leading Swiss based manufacturer of vehicle sensors, recently established a production factory in Sri Lanka with the intention of producing and re-exporting to global logistic hubs.

Chief Executive Officer, Contrinex AG, Annette Heimlicher had reportedly said that the decision to setup a factory in Sri Lanka was made owing to the possibilities of positive prospects in the future. She added that Sri Lanka was an ideal location. “Because we expect very soon that GSP + will be granted to Sri Lanka which means that our products can be exported to Europe with very low customs duties,” she said.

“We are also highly interested in seeing a FTA between Sri Lanka and China so in the future we will have the opportunity to export easily to that large market,” she had said, according to a statement released by the Board of Investment (BoI).

She had also added that many Swiss based companies were looking at relocating because of the strong Swiss Franc. “This is very positive for Sri Lanka because not only manual work but also engineering and back office type work can also be done in your country,” Heimlicher added.

“The advantage of Sri Lanka is that you have low-cost, high quality and loyal and good people working in the country. Also we find people at all levels of skills in Sri Lanka and they can be easily recruited,” Heimlicher had said.