More US investments to shift to Sri Lanka – US Ambassador

Shield’s decision to shift its facility in China to establish a manufacturing facility here in Sri Lanka is a testament to the growing interest of U.S. investment in Sri Lanka, US Ambassador to Sri Lanka Julie Chung told the Shield Restraint Systems groundbreaking ceremony held yesterday in Wathupitiwala EPZ, Nittambuwa.

Shield Restraint Systems will initially invest USD 8.5 million in the facility which will create more than 500 jobs.

Ambassador Chung said, “If the new government can strengthen the investment climate, implement anti corruption measures and strengthen business-friendly governance and transparency, there is potential for even more manufacturers to make similar moves. You have heard the phrase: If you build it, they will come.”

“I strongly believe companies will come if the investment climate is strong and that means more jobs, prosperity, more R&D for Sri Lanka.”

She said the United States is already the largest export market for Sri Lanka, and it is wonderful to see greater U.S. investment directly here, as well.

“We want to see even greater bilateral trade and investment expand both ways in the years to come. Manufacturing moves like this one, driven by customer demand to diversify supply chains, represent a great opportunity for Sri Lanka.”

“This groundbreaking ceremony is a moment to renew our dedication to these shared goals, building stronger, inclusive communities and thriving local economies together.”

“We look forward to witnessing the positive impact this factory will have on the local economy, creating jobs and fostering further innovation,” she added.

BOI Chairman Arjuna Herath said this expansion not only reflects the strength and vision of these companies but highlights the potential Sri Lanka holds as a vital player in the global aerospace and defense sector.

He said AmSafe Bridport made a USD 5 million annual contribution to the Sri Lanka economy.