Colombo to raise manufacturing's share in GDP from 16% to 20% by 2030

A five-year strategic plan includes raising the role of entrepreneurship in the workforce from 2.8 per cent to 7 per cent, ministry secretary Shantha Weerasinghe said.

The plan for 2023-2027 and the National Industry Policy have been submitted to the department of national planning, he was cited as saying by media reports in Sri Lanka.

The final bill to amend the Industrial Promotion Act has been submitted to the attorney general’s department for approval, ensuring it addresses both current and future needs, he said.

The ministry earlier introduced a registration system for manufacturing industries, with 3,925 industries registered by June this year.

ALCHEMPro News Desk (DS)