Medical device industry

Foreign investors have taken notice of Sri Lanka's medical device manufacturing sector, which has been operating independently. The Sri Lanka Chamber of Medical Devices Industry (SLCMDI) President, Pradeep Amarawardana, has revealed a growing interest from international entities.

 

 

Amarawardana stated that foreign investors, particularly regional and Asian countries, seek to collaborate with local parties to invest in Sri Lanka.

 

 

China and India, already significant contributors to the industry, are being actively promoted as investment destinations. The goal is to encourage them to establish factories in Sri Lanka to cater to the domestic market and export purposes.

 

 

However, Sri Lanka faces challenges in its medical device registration process, leading potential investors to reconsider their plans. S. Prabhu, former President of the SLCMDI, stressed the urgency of resolving this issue. 

 

 

He emphasized that if the registration of medical devices fails to happen promptly, manufacturers may opt for countries like Singapore, where registration processes are completed within five months. Please address this to ensure the loss of valuable manufacturers and technology for Sri Lanka.

 

 

Prabhu further emphasized that expedited registration procedures are necessary to keep pace with industry advancements due to the rapid evolution of medical device technology. Additionally, faster registration of medical devices would help attract medical tourists to Sri Lanka.

 

 

Overall, while there is foreign investor interest in Sri Lanka's medical device manufacturing sector, addressing the challenges in the registration process is crucial to maintain competitiveness and attract investment.