News Today: Discover how the government targets growth in export revenue to $35 billion by 2030

The newly appointed Deputy Minister of Industry and Industrial Development, Chathuranga Abeysinghe, announced ambitious plans to increase Sri Lanka’s export revenue. Speaking at his inauguration, Abeysinghe stated the government’s target to boost annual export earnings to $35 billion by 2030, up from the current $12 billion (Industry) and $5 billion (Services).

A graduate of Sri Jayewardenepura University and member of CIMA, Abeysinghe brings extensive experience in ICT and finance. He stressed the importance of revitalizing the industrial sector, which he said has long been neglected. “For decades, the industry has failed to deliver the desired economic outcomes, causing challenges across multiple sectors,” Abeysinghe remarked.

To address these issues, the government is formulating targeted interventions aimed at fostering industrial growth. These measures are expected to stabilize the economy and contribute to achieving a 6.5% GDP growth rate. “The industrial sector will play a pivotal role in driving sustainable development,” Abeysinghe added.

The government’s focus on export-driven growth aligns with its broader strategy to enhance economic stability and global competitiveness. With proactive policies and effective leadership, Sri Lanka aims to reposition itself as a strong player in international trade.