Sri Lanka's factory output tops $2.6 b
Sri Lanka's factory output, an important industrial growth driver,
continues to rise.
"National Factory output that recorded $ 2.4 billion in 2011,
increased to $ 2.6 billion, in 2012. Since there is a strong
contribution by local industries to exports, there is also growth in
overall exports," said Industry and Commerce Minister Rishard Bathiudeen
at the Wayamba Wijayabhimani Viyaparika Vishishtatha Awards ceremony at
the auditorium of the North Western Province (NWP) Provincial Council,
Minister of Economic Development Minister Basil Rajapaksa, North
Western Province Governor Tissa Balalla, Chief Minister Dayasiri
Jayasekera, Chairman, Industrial Services Bureau, Jayantha Wijeratne and
CEO, Industrial Services Bureau, Neelakanth Wanninayaka were also
The Entrepreneur and Industrial Awards awards which recognise, reward
and motivate entrepreneurs and industrialists who have contributed to
the economic development of the North Western Province, has been led by
the Industrial Services Bureau (ISB) of the NWP with the support of the
NWP Provincial Council.
According to the organisers, this provincial awards scheme covers
micro, small, medium, large and extra-large enterprises, in many sectors
including the industry and manufacturing sectors.
In Sri Lanka's industrial sector, factory output grew by 6.2% in the
first half of 2013. Within it, food, beverages and tobacco products grew
by 6.2% and non-metallic mineral products grew by 4.9%, while the
textile, wearing apparel and leather products grew by 6.5%.
Niranga Enterprises won the Best award in the micro sector, while
Manufacturing Best Award was won by TNG Packaging Ltd, followed by
Tropical Health Food (medium scale), Selyn Exporters (large scale) and
Dankotuwa Porcelain Ltd (extra large scale).
Many other awards and certificates for entrepreneurship were also
"I commend the organisers of this event for pioneering, provincial
level initiatives that help us to improve national GDP growth.
Manufacturing industries is the essential engine of development of any
economy," said Minister Bathiudeen.
"The industrial sector now contributes to 28% of our GDP. National
factory output that recorded $ 2.4 billion in 2011, increased to $ 2.6
billion, in 2012. Due to the strong contribution by industries to
exports, there is growth in overall exports," he said.
"In 2013, industrial exports, performed strongly, driven by the large
apparel export revenue, which showed record earnings of $ 4.3 billion.
This province is next to the most industrialised, province of Sri
Lanka, the Western Province, which has a provincial GDP growth rate of
13%," the Minister said.
"This province has a share of 10% of national GDP, which shows there
is strong potential for growth in the future. Sectors such as business,
entrepreneurship and manufacturing, can help this province to grow
further," he said.
The National Enterprise Development Agency of Sri Lanka (NEDA) has
extended assistance valued at more than Rs 3.5 million to the province.
In 2012 and 2013, NEDA supported entrepreneurs in the province, with
new programs, such as women entrepreneur development, enhancement of
vocational training facilities, business development fairs and light
engineering cluster development program.
The value of support for the two years exceeded $ 27,000.
"This year NEDA will launch three initiatives in this province. They
are a pottery cluster development program, technical training and
financial assistance for light engineering, and coir sector development
program," Minister Bathiudeen said.
Economic Development Minister Basil Rajapaksa said, "Most
entrepreneurs are saddled with bureaucratic problems. Even a small scale
entrepreneur has to go to more than 20 government agencies before they
finally launch their business. By then they are worn out."