Our government will be committed to transforming Sri Lanka into a globally connected social market economy, with private enterprise, both large and small, as the principal driver of growth. This transformation requires two key actions: enhancing global economic integration through trade liberalisation and foreign direct investment and unshackling domestic markets, including product and labour markets. Ensuring effective market signals will enable full private sector engagement in national development.
We shall address challenges at multiple levels. Archaic laws need modernisation. Reforms will unshackle agriculture markets, provide equitable water access through rehabilitated irrigation tanks, and offer access to finance and insurance. For the individual farmer, the entire value chain—from obtaining information on what, how much, and when to produce, to financing inputs and managing the cultivation cycle—needs improvement. Thereafter, post-harvest management in terms of storage to logistics to sale must be addressed.
We will implement a rapid, smart technology-driven agricultural modernisation programme to reduce rural poverty, increase productivity, and promote sector growth. This includes interventions – in paddy, vegetable, and plantation crops – from planting to sale, like protected agriculture, lift irrigation, drip irrigation, and perhaps even AI-assisted hydroponic farming. This effort will become possible with the launching of the Digital Public Infrastructure (DPI).
To reduce and maintain the price of rice, we will reintroduce the ‘Shakthi’ rice miller nationwide cooperative programme. We will also immediately establish ‘Prabhashwara’, a network of climate-controlled agricultural produce warehouses around the country, to reduce the 40% post-harvest loss of produce. This, too, will contribute to lowering the price of food.
Sri Lanka will be connected to Global Manufacturing Value Chains (GMVCs) starting with manufacturing sliced components utilising the still untapped trainable workforce and our strategic location. Here, we plan to integrate with global electronic and electrical goods production as well as in EV components using transformation of critical material including graphite. Our government will also be committed to further advancing the success of the apparel sector.
A key component of the growth plan is the service sector. We will focus on e-commerce and information technology services and in transforming Sri Lanka into a logistics service centre.
MSMEs and start-ups are as important large corporations in driving economic growth, contributing to approximately half of value addition and half of employment. MSMEs have been long neglected and are currently in crisis, particularly since the pandemic and then the economic meltdown. Our government will place special emphasis on rescuing and setting a path for MSMEs to become a key contributor to the expected high growth trajectory of Sri Lanka through access to digitalisation, capital and programmes for training.
We will amend the law to make the Port City the Asian Regional Centre for technology services including Fintech, Biotech and Nanotech.
