DHL announced today that it plans to invest US$8 million in Sri Lanka over a three-year period
The investment will go towards a joint venture with Capitol AEI, called DHL Global Forwarding Lanka
As part of this investment, DHL will also launch the DHL Fashion & Apparel Centre for Excellence in Colombo by end-2009, to support Sri Lanka's ambition to become a logistics hub for South Asia
The investments in the JV will be focused on employee training, information systems upgrades and the introduction of an enhanced range of services for businesses in Sri Lanka
The DHL Fashion & Apparel Centre for Excellence in Colombo will comprise a core team of industry experts who will be responsible for developing tailored solutions and providing consultancy services to customers
Amadou Diallo, DHL Global Forwarding CEO for South Asia-Pacific, said the company is very optimistic about Sri Lanka's growth potential, as its strategic location along the major Europe - Far East air and sea routes uniquely positions the country to capitalise on the increasing trade flows between South Asia and Europe
The fashion & apparel industry is Sri Lanka's biggest source of revenue, contributing nearly 8% to the country's GDP and accounting for 45% of its export revenue and 67% of total industrial exports
DHL estimates the fashion & apparel logistics industry in South Asia to be worth US$39 billion a year, with India, Pakistan, Bangladesh and Sri Lanka alone accounting for well over US$24 billion
Combining the operations of DHL Global Forwarding and DHL Supply Chain, the newly formed JV offers integrated global forwarding expertise and supply chain capabilities, and operates a combined warehouse space of more than 380,000 sqft and a fleet of about forty vehicles
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