Sri Lanka targets $ 36 billion economy through export and investment drive
The Morning: Sri Lanka is aiming to double its exports and investments as it works towards building a $ 36 billion economy by 2030, Industry and Entrepreneurship Development Minister Sunil Handunneththi said recently.
Speaking at Entrepreneurs’ Night 2026 in Melbourne, Australia recently, Handunneththi said, “We need to boost investment and business development in Sri Lanka. It is the Sri Lankan citizens that live in Melbourne and the people of Sri Lanka together, who have brought a possibility to this shift. Our goal is to achieve a $ 36 billion economy by the year of 2030. Regardless of the international situation, we must pursue the target, doubling our country’s exports and investments.”
According to the Department of Government Information (DGI), in order to attract foreign investments into Sri Lanka, Australia’s leading investors and entrepreneurs expressed strong willingness to make direct investments (FDIs) in several key sectors of the country.
He said: “There are many people running businesses in Australia, and as a country, now we need to bring their investments into Sri Lanka, just as we need to take Sri Lankan businesses there.”
“This exchange is what we have discussed in the forum, in collaboration with the Board of Investment (BOI) and the Ministry of Industries, who have come together for this purpose,” Handunneththi said.
“In the past, entrepreneurs used to approach politicians, but now, as politicians, we are reaching out to the entrepreneurs, as a means to support Sri Lankan businesses to expand,” he said.
“We have already put in place all the necessary facilities to achieve these investment and export targets, with the key focus to attract investors. We have held several rounds of discussions to this end,” he stated.
Handunneththi further said: “The Melbourne business forum has been extremely successful, which is the most successful business gathering we have held in Australia to date. We look forward to following up on the outcomes of the discussions in the near future.”
OSL take:
Sri Lanka’s drive to double exports and investment by 2030 is opening a wider range of business/investment opportunities for foreign businesses/investors seeking an entry point into a growing export-oriented economy. With the Sri Lankan Government targeting a $36 billion economy by 2030, greater emphasis is being placed on attracting foreign direct investment into industries capable of generating foreign exchange, expanding production and connecting Sri Lankan businesses with international markets. The Sri Lankan Government has also signalled a stronger focus on working directly with entrepreneurs and investors to facilitate new ventures and partnerships. For foreign businesses/investors, opportunities extend beyond traditional export industries to sectors such as manufacturing, food processing, agriculture and fisheries, apparel, technology, logistics, renewable energy and tourism-related exports. Joint ventures with local companies could provide international investors with access to Sri Lanka’s established business networks, skilled workforce and regional trade links, while allowing domestic firms to expand their production and reach new markets. The Sri Lankan Government’s efforts to engage Sri Lankan entrepreneurs overseas, including the business community in Australia, also highlight the growing role of the diaspora as a source of capital, expertise and international market access. As Sri Lanka seeks to move from economic recovery towards sustained export-led growth, the expansion of production capacity and integration into global supply chains could create significant opportunities for foreign companies willing to invest in export-oriented businesses and long-term partnerships.
| Article Code : | VBS/AT/20260831Z_7 |