Increase export revenue to USD 36 billion by 2030: President directs officials

27 January 2025 07:40 pm Views - {{hitsCtrl.values.hits}} 10 Bookmark

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Colombo, January 27 (Daily Mirror) - President Anura Kumara Dissanayake directed officials to take necessary steps to increase the export revenue to USD 36 billion by 2030 in line with the new government’s policy of 'A Thriving Nation - A Beautiful Life'.

The President expressed these views during the meeting of the Export Development Council of Ministers (EDCM), held today at the Presidential Secretariat.

Export revenue, which stood at USD 16.1 billion in 2024, is expected to rise to USD 18.2 billion this year, with a long-term goal of reaching USD 36 billion by 2030 through a comprehensive action plan, the President’s Media Division (PMD) said.

"The discussions emphasised on the importance of strengthening domestic production and transitioning to an export-driven economy. Participants also highlighted the need to leverage Sri Lanka’s strategic location, human resources and natural assets to develop a sustainable industrial growth plan," the PMD said.

This focused on revitalising the struggling domestic manufacturing industries, enhancing the competitiveness of export sectors, promoting the services industry and capturing global markets through innovative strategies.

Attention was also drawn to attracting Foreign Direct Investments under a national framework, creating a conducive environment for new investments, reducing production costs and ensuring the availability of essential infrastructure and resources.

A decision was made to establish a VAT refund system at the airport for goods purchased by tourists.

In order to address delays and inefficiencies in the inspection of export products, plans have been made to replace the manual system with an automated scanning system that complies with international standards.

This system will be installed at the Katunayake airport, with funding allocated by the Ministry of Industries.

Comments - 10

Peter Perera Monday, 27 January 2025 08:31 PM

Good outlook. But if our imports exceeds the exports revenue, will that help the country At present we are importing the basic necessities to survive and not to mention at the same time we are going to import vehicles which has been gazetted today which is a very necessary commodity that our common man is starving for.

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Pusa Monday, 27 January 2025 08:35 PM

The Ugly Man jokes again...LMAO

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RanjithT Monday, 27 January 2025 09:32 PM

What the hell Comrade is talking about? Last CB report as at end November 2024 Merchandise Exports are US$ 11.6 b. Imports are US$ 16.9 b reflecting a deficit of US$ 5.2 b. Balance income are service inflows and worker remittances. Comrade thinks the service inflows are exports. If Comrade is talking of export earnings to US$ 36 b which means an increase over US$ 25 b over 5 years on a crude average US$ 5b increase a year. However if Comrade and his team thinks such an increase is possible this year they are day dreaming. Just for the record Jan to Nov 23 to 24 increase is only US$ 700 million. It is time that comrade start learning how to read and understand CB monthly reports. Dear Comrade President please stop just firing from the hip and do some target practice.

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Amaran Monday, 27 January 2025 11:42 PM

We have even started IMPORTING salt. Our country is surrounded by sea. We are unable to produce even the SALT. All successive governments have neglected all industries. JR's policies have finally created a LAZY SOCIETY. How to reach this target? Politicians thrived spreading RACISM, divided the society to win elections and came to power to rob.

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Siva Tuesday, 28 January 2025 01:11 AM

Your strengths are not mine, and your weakness are not mine either. Give him a chance and he might be able to something like others corrupt leaders of SL were unable to do. He might be the Lee Kuan Yew, that Srilanka never had.

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Dr Tissa Fernando Tuesday, 28 January 2025 02:44 AM

Well said, the Comrade is planning to export the services such as 'Protestors' to other countries in order to participate in protests. Other than that, there is nothing with them except the YouTube and Social media propaganda team that even claimed that the NPP discovered Ella tourist spot.

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A Concerned Citizen Tuesday, 28 January 2025 06:51 AM

The President says it is necessary to increase export revenue to USD 36 billion. At the same time, he is importing cars for all 225 MPs.

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Gunapala Tuesday, 28 January 2025 08:54 AM

He wants to show big numbers before local government elections. After the election forget all promises!

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james Tuesday, 28 January 2025 09:44 AM

Easy for you to say. Have you even ran a business before you got into politics? You only know how to open your big mouth.

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Adwani Tuesday, 28 January 2025 10:56 AM

Clear the congestions at Port, we are loosing already the income from other sources.

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