Minister of Industry and
Entrepreneurship Development Sunil Handunnetthi has announced a National
Industrial Plan designed to transform Sri Lanka’s industrial sector into a
robust manufacturing economy. The announcement was made during an observation
tour of the Industrial Development Board (IDB) in Katubedda, where the
minister outlined key strategies for revitalizing the nation’s industrial parks
and boosting local production.
The initiative is part of a broader vision to strengthen the industrial sector and reduce dependency on imports by empowering Sri Lankan manufacturers.
Key Strategies in the National Industrial Plan
Minister Handunnetthi highlighted several core components of the plan:
- Revitalizing Industrial Parks: The 33 industrial parks under the Ministry of Industries and 17 parks managed by the IDB will be restructured to align with national economic priorities, moving away from politically motivated strategies.
- Boosting National Production: Emphasis will be placed on increasing local manufacturing output and enhancing export income to drive economic growth.
- Promoting Local Manufacturing: The plan prioritizes domestic production under the principle of “produce locally, import only essentials.”
- Ensuring Raw Material Supply: Government institutions will play a key role in providing essential raw materials to industrialists, ensuring uninterrupted operations.
Observations and Directions
The minister was joined by Deputy Minister Chathuranga Abeysinghe during the tour, where they reviewed the IDB’s engineering, foundry, laboratory, and workshop facilities. Both ministers instructed officers to address operational inefficiencies promptly to enhance the IDB’s service delivery to industrialists.
Minister Handunnetthi stressed the importance of revitalizing the IDB’s activities to better align with the needs of local industrialists, ensuring efficient resource utilization and fostering a supportive environment for growth.
Vision for Sri Lanka’s Industrial Sector
This ambitious plan seeks to create a sustainable industrial ecosystem that prioritizes local innovation and production while positioning Sri Lanka as a competitive player in global manufacturing. By addressing inefficiencies and leveraging industrial parks, the government aims to empower local businesses and reduce the reliance on imports, driving long-term economic resilience.
Conclusion
The National Industrial Plan marks a pivotal step toward revitalizing Sri Lanka’s industrial sector. By focusing on local production, export growth, and efficient resource management, the plan aims to lay the foundation for a self-reliant manufacturing economy.
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