Govt. declares annual Industrial Exhibition Week to boost sector

Industries Minister Dr. Ramesh Pathirana

In a bid to promote, encourage and boost local industries as well as attract foreign investors and industrialists, the Government has decided to hold an Industrial Exhibition Week annually.

The proposal to this effect submitted by Industries Minister Dr. Ramesh Pathirana was approved by the Cabinet of Ministers at its meeting on Monday. 

The industry sector contributes 28% to the Gross Domestic Production (GDP) and the contribution of the manufacturing industry to the GDP is 15%. 

“The Government have plans made to increase these percentages to 30% and 25% respectively by 2030,” Cabinet Co-Spokesman and Minister Bandula Gunawardena said at the post-Cabinet meeting media briefing yesterday. 

He said plans are underway to step up efforts to increase the percentage of entrepreneurs from 2.8% to 10%, and the contribution of micro, small and medium-scale industries to the GDP is expected to increase from 52% to 70% by 2030.

 ”It is expected to achieve those goals through six identified industrial sectors and the Ministry of Industries has taken steps to ensure an integrated approach to provide the necessary infrastructure and other facilities,” Gunawardena said. 

He also said this year’s Industrial Exhibition is scheduled to be held from 22 - 25 June.