Industry a Prime Factor in the Growth of Sri Lanka

The industrial sector in Sri Lanka employees 24% of the workforce and contributes 27% of the Gross National Product (GNP). Industrial products which represent 78% of Sri Lanka’s exports have achieved a growth rate exceeding 6% during the past few decades and in view of reducing to the minimum the continuous cost of imports, the Ministry of Industrial Development has taken on the task of popularizing local products as substitutes for imports among the people in the country.

The Regional Industrial Development Division seeks to encourage industrialists to invest regionally and employ rural masses. With this in mind, the Ministry has implemented two programs, “Regional Industrial Estate Development,” which provides infrastructure facilities to the industrialists, and “Gamata Karmantha”,

The 300 Industries program encourages the setting up of industries in rural areas. It have been realized that the disparity in infrastructure facilities among regions and the centre is one of the main obstacles for industrial development in the country. To overcome this difficulty a Regional Industrial Estate Development Program has been implemented by the Ministry. Under this program lands are identified and developed by providing major infrastructure facilities as roads, electricity and water supply required by industrialists to start off their industries.

Under this program 19 industrial estates were established by August 2007 and development work of another two estates at Puttalam and Buttala were initiated. In addition preliminary work on another industrial estate is in progress in Embilipitiya.

Source: Sri Lanka Government News Portal

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