Sri Lanka’s President targets $ 6 billion export boost from coconut, food, rubber and tea
Daily FT: President Anura Kumara Dissanayake has reviewed an ambitious push to transform four key export industries into major foreign exchange earners, targeting up to $ 6 billion over the coming years.
During separate discussions at the Presidential Secretariat recently with industrialists representing the coconut, food and beverage, rubber and tea sectors, the President pledged policy support, investment incentives and regulatory reforms to accelerate the country’s shift towards an export-oriented economy.
He outlined the Government’s strategy to strengthen domestic manufacturing and increase value-added exports as part of the National Export Development Plan (NEDP) 2026–2030.
The immediate target is to develop the coconut and food and beverage industries into a combined $ 3 billion export sector within two years, with coconut-based exports expected to reach $ 2 billion and food and beverage exports $ 1 billion.
The President said the Government was prepared to provide every possible incentive needed to diversify exports and promote higher value-added production, stressing that Sri Lanka must strengthen domestic industries to overcome its foreign debt burden and reduce reliance on international financial institutions.
“Our objective is to build the economy into an export-oriented production economy,” he said, noting that countries which successfully transformed their economies had done so by integrating domestic production with export markets.
President Dissanayake said Government support would be directed towards businesses willing to invest, compete internationally and generate higher net dollar earnings rather than merely increasing gross export values.
A key focus throughout the discussions was the need to maximise value addition while minimising imported inputs.
The President noted that the gap between foreign exchange spent on importing raw materials and export earnings from finished products must be carefully managed to ensure exports generate meaningful net inflows.
Among the immediate policy measures discussed were streamlining imports of raw materials required for export production, while safeguarding domestic producers, simplifying production processes, improving data collection on production trends and strengthening domestic supply chains.
It was also agreed in principle to provide incentives for industries establishing operations in the Northern Province, including support for coconut-based manufacturing facilities, as part of efforts to broaden regional industrial development.
OSL take:
Sri Lanka is accelerating its transition towards an export-oriented economy, creating expanding business/investment opportunities for foreign businesses/investors across manufacturing, agribusiness, food processing, and value-added exports. The Sri Lankan government’s focus on strengthening the coconut, food and beverage, rubber, and tea industries under the National Export Development Plan (2026–2030) is expected to boost investment in processing facilities, advanced manufacturing, packaging, technology, logistics, and export infrastructure. With ambitious targets to significantly increase export earnings through higher-value products, Sri Lanka is positioning itself as an attractive destination for international companies seeking strategic partnerships, technology transfer, and long-term investment. Continued policy support, regulatory reforms, and investment incentives are expected to further enhance the country’s appeal as a competitive export and manufacturing hub in the region. Sri Lanka’s trade agreements and trade concessions enjoyed with many key foreign countries as well as the continued expansion of trade ties with more foreign markets, serve as an added incentive for foreign businesses/investors exploring lucrative opportunities in the region, especially in Sri Lanka.
| Article Code : | VBS/AT/20260708Z_3 |