A high-level discussion aimed at identifying immediate solutions to challenges facing the country's apparel sector and strengthening the export-led economic growth was held today (22) at the Presidential Secretariat under the patronage of President Anura Kumara Dissanayake.
The meeting brought together leading apparel industry representatives, investors and senior government officials to discuss obstacles confronting the sector and measures required to support the implementation of the Export Development Board’s (EDB) new export strategy, the President’s Media Division said in a statement.
Addressing the gathering, President Dissanayake reaffirmed the government’s commitment to strengthening Sri Lanka’s export economy and outlined several policy initiatives designed to enhance the sector’s competitiveness and increase foreign exchange earnings.
The President emphasized the importance of expanding industrial operations into rural areas, noting that such a move could significantly contribute to export growth while generating employment opportunities across the country. He invited investors to participate in the initiative and highlighted plans to introduce a government-supported “Plug and Play” mechanism, under which essential infrastructure and factory facilities would be provided to facilitate investment, the PMD noted.
Explaining the current economic situation, President Dissanayake stated that while investments in Sri Lankan rupees had increased, it was vital to strengthen dollar-earning sectors to safeguard the country’s foreign exchange position. He noted that sustainable economic recovery would depend on increasing foreign currency earnings while maintaining control over rupee-denominated expenditure.
Land-related issues faced by investors were also discussed during the meeting. The President assured participants that the government would take steps to ensure the value of land assets and maintain policy consistency, adding that legal reforms were already underway to address these concerns.
Attention was also drawn to challenges faced by local raw material suppliers under the Value Added Tax (VAT) system. The President requested industry representatives to submit proposals on alternative relief measures that could be introduced to ease the burden on suppliers.
Participants further discussed measures to expand free trade agreements and increase export quotas in order to create greater market access opportunities for Sri Lankan products.
The meeting also reviewed progress on trade facilitation initiatives. It was revealed that the National Single Window for Trade is expected to become operational by the end of July, while the National Single Window for Investment is scheduled for completion before the end of the year.
President Dissanayake additionally stressed the need to strengthen legal and technological mechanisms to prevent illicitly acquired wealth from being transferred overseas. He also stated that new legislation aimed at combating organized crime, while protecting citizens’ rights, would be introduced to replace the Prevention of Terrorism Act (PTA).
Industry representatives welcomed the opportunity to directly engage with the President and raised concerns affecting their operations, according to the PMD.
They also proposed the establishment of a monthly forum to facilitate regular discussions with relevant government officials.
Responding positively, the President instructed officials to take the necessary steps to establish such a mechanism, the PMD added.
The Minister of Labour and Deputy Minister of Finance and Planning, Dr. Anil Jayantha Fernando, the Secretary to the Ministry of Finance, Planning and Economic Development Harshana Suriyapperuma, the Controller General of Imports and Exports, Upulmali Premathilaka, the Chairman of the Sri Lanka Export Development Board, Mangala Wijesinghe, representatives of the Inland Revenue Department and Sri Lanka Customs, along with leading business leaders and investors from the apparel sector attended the meeting.
