Joint ventures can be successfully carried out between governments. – Industry Minister Handunnetthi.

Government-to-government joint ventures can be successfully implemented, says Minister of Industry and Entrepreneurship Development Sunil Handunnetti. The Minister said this when he visited the production activities of Lanka Ashok Leyland in Homagama.

Lanka Ashok Leyland, which operates under the Ministry of Industry and Entrepreneurship Development, was established in 1983 as a joint venture with India’s Ashok Leyland, and 73% of its shares belong to Sri Lanka, of which the Government of Sri Lanka holds the largest share of 41%. This company manufactures and markets a wide range of heavy vehicles including buses, trucks, tippers, and other vehicles with a local value addition of more than 40%. At present, Lanka Ashok Leyland’s products are exported to the Maldives and have provided direct employment opportunities to nearly 600 people. This is a local for-profit institution that also conducts courses on motor engineering technology.

Speaking to the media, Minister Sunil Handunnetti said,
Lanka Ashok Leyland can be pointed out as the best example of successful government-to-government joint ventures. This institution, which is successfully run jointly by the governments of Sri Lanka and India, is working to introduce a new product line with low prices and modern technology for the use of the North-East, plantations and rural people, and he said that buses required by schools, universities and educational institutions will be manufactured through Lanka Ashok Leyland and provided to those institutions at affordable prices. He further said that under the name “Made in Sri Lanka”, Lanka Ashok Leyland will take its products to a higher level and expand its production capacity to other countries.

Lanka Ashok Leyland Chairman Milton Samarasinghe, Lanka Ashok Leyland CEO Umesh Gautham, officials from the Ministry of Industries, officials from Lanka Ashok Leyland and a group of others participated in this event.