Second phase of ‘Made in Sri Lanka’ programme kicks off
Sri Lanka’s Industries Ministry has recently initiated the launch of the brand ‘Made in Sri Lanka’ to empower local producers while maintaining sustainable economic development in the country.
Local media has recently reported that industries occupy a special place in the national manufacturing process in Sri Lanka which is about 26.4% of the national GDP, and only a very low percentage of about 10% contributes to exports. It is in such a backdrop that Sri Lanka’s President Gotabaya Rajapaksa has identified in his vision of prosperity the need to empower local producers while maintaining sustainable economic development in Sri Lanka. Sri Lanka’s Industries Minister Wimal Weerawansa has initiated the brand ‘Made in Sri Lanka’ in line with this concept.
As a part of this initiative, the National Enterprise Development Authority under the supervision of the country’s Ministry of Industries has planned to award the digitally-designed ‘Made in Sri Lanka’ logo to selected local entrepreneurs.
This will enable local manufacturers to elevate Sri Lankan product brands to an international level by winning local and foreign customers and markets. It is to be carried out under three categories illustrating the originality of the products made locally.
If any product uses 100% of labour, technology, raw materials, and human resources locally, such products will be considered a 100% local product and will be awarded the ‘Made in Sri Lanka’ logo. In addition to that, the focus is also on awarding the logo to 60% of locally certified products. Under the guidance of the Minister, the ‘Made in Sri Lanka’ brand will be promoted to the public by awarding the logo free of charge to the first 50 local entrepreneurs, according to local media reports.
The first phase of the event was successfully held at the Galle Face Hotel last year, where 10 entrepreneurs were presented with the logo. The second phase was held on 30 March at the Hilton Residences, Colombo.
OSL take:
Sri Lanka’s exports and manufacturing sectors have shown strong growth and is a potential business/investment opportunity in the country. The manufacturing and exports sectors are the first sectors to show a strong rebound after facing the impact of the global Covid 19 pandemic. The many trade agreements as well as the trade concessions enjoyed by the country have helped the growth of these two sectors in the country. The continuous expansion of the manufacturing and exports sectors has opened up many business/investment opportunities to foreign businesses/investors.
| Article Code : | VBS/AT/20210421/Z_7 |