Sri Lanka, in addition to other sectors, plans to attract over USD 13 billion from two keys segments, tourism and ICT in the next three years, stated CT CLSA research, quoting President Anura Kumara Dissanayake’s policy statement at the 10th Parliament inauguration ceremony on November 21.
Tourism: The Government plans to attract four million tourists and generate US$ 8 billion to the economy thorough the sector within three to four years.
“IT markets are to be enhanced from the current 85,000 IT professionals to 200,000 IT professionals to enhance export potential of the sector from current US$ 1.2 bn at present to US$ 5 billion per year.
CT CLSA highlighted the Government plans to enhance the value derived from mineral resources by setting up a value-added industrial system that integrates state and private sector efforts.
Higher focus on the maritime sector by leveraging on the location of Colombo and the higher importance of becoming a major trade and maritime hub was also highlighted.
The policy statement also focused on innovation in agriculture through research and development and further improvement in subsidies towards agriculture.
Acknowledging the need for innovation, a dedicated Ministry of Science and Technology has been set up to drive research and development, aiming to transition from traditional
markets to new, innovative ones It also highlighted the economic stabilisation efforts where the President outlined plans for stabilising the economy through careful decision-making and adherence to agreements with the International Monetary Fund (IMF).
Under the new economic strategies President proposed three key pillars for economic strategy: rapid growth in production, inclusive participation of citizens in the economy and most importantly fair distribution of national wealth to prevent its concentration among a few.
