President Pushes Export-Oriented Manufacturing Economy

COLOMBO (News 1st): President Anura Kumara Dissanayake says the government's objective is to transform Sri Lanka into an export-oriented manufacturing economy by strengthening local supply chains.

The President made these remarks during a discussion with leaders of the coconut, food, and beverage industries at the Presidential Secretariat yesterday (27th).

The discussion focused on developing the coconut, food and beverage export industries into a combined US$3 billion economy within the next two years.

According to the Presidential Media Unit, plans were extensively discussed to increase the value of the coconut-based export industry to US$2 billion and the food and beverage export industry to US$1 billion.

The President stated that the government is prepared to provide the necessary incentives to encourage export diversification and the production of value-added products.

Suggestions and proposals for the development of the industries were also presented at the meeting, with the President noting that future plans would be formulated after considering all recommendations.