Sri Lankan government confident of generating US$ 5 billion income through primary export by 2025
Primary Industries Minister of Sri Lanka, Daya Gamage has reportedly stated that the successful initiation of several projects to boost exports in spices, fruits, vegetables and fisheries, would result in Sri Lanka generating an income of US$ 5 billion by 2025 in primary exports.
“The primary exports are growing at a rate of 40% per annum since 2016. At this growth momentum we will be able to generate US$ 5 billion by 2025, which is three times higher than the target given to me,” the Minister has been quoted as saying in the local media.
Gamage has explained that while the government given export income target for the Primary Industries Ministry is US$ 1.5 billion per annum by 2025, there is now potential to earn US$ 5 billion by the given period.
According to the Minister, there has been a fast track growth in the primary industries sector since 2016 due to the successful establishment of 23 agro processing zones and 10 mega zones for fisheries sector development as well as programmes for the revitalization of spices industry.
OSL take:
The Sri Lankan government’s target of achieving a US$ 5 billion income through primary exports by 2025 indicates the opening of many investment opportunities. The country’s exports sector is currently on a growth path and as stated by the Minister in-charge, the many positive developments that have taken place since 2016 would definitely give a boost to Sri Lanka’s exports sector. Therefore, foreign businesses could explore business opportunities in Sri Lanka’s exports sector.
| Article Code : | VBS/AT/20181016/Z_1 |