President Pushes Export-Oriented Manufacturing Economy

COLOMBO (News 1st): President Anura Kumara Dissanayake says the government's objective is to transform Sri Lanka into an export-oriented manufacturing economy by strengthening local supply chains.The President made these remarks during a discussion with leaders of the coconut, food, and beverage industries at the Presidential Secretariat yesterday (27th).The discussion focused on developing the coconut, food and beverage export industries into a combined US$3 billion economy within the next two years.According to the Presidential Media Unit, plans were extensively discussed to increase the value of the coconut-based export industry to US$2 billion and the food and beverage export industry to US$1 billion.The President stated that the government is prepared to provide the necessary incentives to encourage export diversification and the production of value-added products.Suggestions and proposals for the development of the industries were also presented at the meeting, with the President noting that future plans would be formulated after considering all recommendations.