COLOMBO, Aug 1 (NNN-XINHUA) – Sri Lanka’s Ministry of Industries, has prepared a national industry policy and a five-year strategic plan for 2023-2027, a government official announced here, yesterday.
During a press briefing at the Presidential Media Centre, Secretary to the Ministry of Industries, Shantha Weerasinghe, said, by 2030 the policy aims to increase the manufacturing sector’s annual contribution to gross domestic product (GDP) from 16 percent to 20 percent, raise the role of entrepreneurship in the workforce from 2.8 percent to seven percent, and boost the share of industrial exports in GDP from 14 percent to 20 percent.
These will build a globally competitive national industrial base in Sri Lanka, he said.
Weerasinghe said, a bill to amend the Industrial Promotion Act has been submitted to the Attorney General’s Department for approval.
Weerasinghe said, the Ministry of Industries has introduced a registration system for manufacturing industries, with 3,925 industries registered by Jun, this year.
The government has allocated funds to a loan scheme, to enhance leadership and entrepreneurship in small- and medium-enterprises in 2022, he said.– NNN-XINHUA
