2011-13 factory output growing!

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 our overall exports thanks to this engine” said Rishad Bahiudeen (Minister of Industry and Commerce of Sri Lanka) on 08 March in Kurunegala.

Minister Bahiudeen was addressing the entrepreneur and industrial awards event by North Western Province, called “Wayamba Wijayabhimani Viyaparika Vishishtatha Awards” gala held at the Provincial Council Auditorium of the Province, Kurunegala on 08 March. The awards series, to recognize, reward and motivate the entrepreneurs and industries who have profoundly contributed to the economic development of the North Western Province, has been led by the Industrial Services Bureau (ISB) of NWP under the patronage of the NW-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. Also taking part were Minister of Economic Development Basil Rajapaksa, Tissa Balalla (Governor of North Western Province), Dayasiri Jayasekera (Chief Minister of North Western Province), Jayantha Wijeratne (Chairman, Industrial Services Bureau), and Neelakanth Wanninayaka (CEO, Industrial Services Bureau and award recipients.

Sri Lanka’s factory industry sector is the leading contributor to industries and in 2013 first half, it grew by 6.2%. 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% (during the first half of 2013).

Niranga Enterprises won the micro sector Best Award, while Manufacturing Best Award was won by TNG Packaging Ltd, followed by Tropical Health Food (for Medium scale), Selyn Exporters  (for Large Scale). Dankotuwa Porcelain Ltd clinched the extra large scale best award for Manufacturing. Many other awards and certificates for entrepreneurship too were handed out.

“As the Minister of Industry and Commerce, I commend the organisers of this event for pioneering, provincial level initiatives that help us to improve our national GDP growth. I also commend them, for taking the Industry and manufacturing sector of this province for their awards considerations. Industry and manufacturing, is the essential engine of development of any economy” said Minister Bathiudeen, and added: “These sectors also provide employment. Thanks to the committed leadership of (HE) the President Mahinda Rajapaksa, I am pleased to note that Sri Lanka’s industry 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. Since there is a strong contribution by industries to exports, there is also growth in our overall exports thanks to this engine. In 2013, industrial exports, performed strongly driven by the large apparel export revenues, which showed a historic record earnings of $ 4.3 Bn. This province is located, next to the most industrialised, province of Sri Lanka, the Western Province, which has a provincial GDP growth rate of 13%. This province itself has a share of 10% of national GDP, which shows there is strong potential for growth in future. I believe that, such sectors as Business, entrepreneurship, industry and manufacturing, can help this province to grow further. I am pleased to say that, as the Minister in charge of National Enterprise Development Agency of Sri Lanka (NEDA), we have already extended, more than Rs. 3.5 Mn, that is about $ 27000 valued support to this province. In 2012 and 2013, NEDA has supported, entrepreneur development in this province, with such new programs, as Coir sector Development Program, Women Entrepreneur Development program, Enhancement of vocational trainees, Business Development Service Fairs, and Light Engineering cluster development program. The value of, our total support for only these two years exceeded $ 27000. More importantly, I am pleased to announce that this year NEDA under my Ministry will be launching, three new initiatives for this province. They are, a Pottery cluster development program, providing technical training and financial assistance for Light engineering program, and the Coir sector development program.”

Basil Rajapaksa, Economic Development Minister, addressing the event, praised it saying a good provincial development initiative. “However, most entrepreneurs of Sri Lanka today are saddled with bureaucracy. Even a small scale entrepreneur has to go to more than  20 government agencies before they commence their business finally. By then they are tired” Minister  Rajapaksa said.