Toymakers Pvt Ltd, a BOI enterprise will manufacture educational toys in the Puttalam District

A new BOI enterprise Toymakers Pvt Ltd, formally opened a factory at Unawaliwatta, in Madurankuliya, Puttalam. This project comes under the BOI’s 300 Enterprises Programme, a special scheme of the Board that awards additional incentives to those investors who take the bold step of starting projects in any one of the 300 divisional secretariats outside the Western Province.

Attending the opening were Mr. Arnold Fehm, Chairman of Fehm GMBH and Toymakers (Pvt) Ltd, Mr. Arnold Hilmar Fehm, Managing Director of Toymakers, and Mr. Neil Fernando, General Manager of Toymakers. Representing the Board of Investment of Sri Lanka at the opening were Mr. Dhammika Perera, Chairman /Director General of the BOI and Mr. A.M.C Kulasekera Deputy Director General (Investment  & Promotion).
The purpose of the programme, which is part of the Mahinda Chinthana is to create a more equitable society through the economic empowerment of the masses. This is achieved by bringing the benefits of investment to populations living in the outlying areas rather than forcing them to move to where the opportunities are located.

In the location of their factory, Toymakers, opted for one of the most “difficult areas” of the programme, where infrastructure is rudimentary and conditions less conducive for investment. Hence the 350 jobs that will ultimately be created by the company will be very significant for the people of Mandurankuliya.

The parent company Fehm GMBH originates from Germany a major investor to Sri Lanka. Sri Lanka has always enjoyed friendly relations with Germany. Germany has traditionally been one of Sri Lanka’sclosest economic partners.
As the investment climate in Sri Lanka has improved, more investments are likely. In addition, the current global economic recession shows signs of ending. 
Toys have emerged as an important economic sector with a global market value of US$ 150 billion. It is that context that Toymakers’ production of soft toys, which are educational and aimed at children up to the age of 5, should be placed.

The exponential growth in real disposable incomes of the populations of India, China and other Asian states has led to an increase in demand for toys in those countries. For example 20% of the production of Mattel is sold in India. Mattel, which is the manufacturer of the famous Barbie doll, is a company with annual sales of US$ 6 billion, 
The toy-manufacturing sector is already important in Sri Lanka, but has considerable potential for further growth.