UN pledges support for Sri Lanka’s industrial and SME development

The United Nations (UN) has reaffirmed its commitment to supporting Sri Lanka’s small and medium-scale industrial sector following a discussion held at the Ministry of Industry and Entrepreneurship Development yesterday (March 12).

Minister of Industry and Entrepreneurship Development Sunil Handunnetti met with UN Resident Coordinator in Sri Lanka, Marc-André Franche, to discuss the country’s industrial development plans and potential areas of collaboration with the UN.

During the meeting, Minister Handunnetti highlighted the government’s long-term vision for the industrial sector, emphasizing the goal of increasing Sri Lanka’s export revenue by USD 3 billion by the end of this year. He noted that the government is prioritizing the export of value-added products to achieve this target.

A key initiative discussed was the establishment of a Land Bank to ensure the effective utilization of all unused plots of land for industrial development. Minister Handunnetti stressed that this would help accelerate economic growth and create new opportunities for industries.

Mr. Franche and the UN delegation welcomed these initiatives and assured the UN’s continued support for small and medium-scale industries, particularly in Sri Lanka’s Northern and Eastern provinces. They also expressed willingness to provide technical assistance and resources to promote green industries in the country.

Further discussions focused on integrating small and medium-scale industries with the tourism sector in the Northern and Eastern regions. The minister also outlined plans to establish a 4,000-acre king coconut plantation zone near Galle in the Southern Province, which will be linked to tourism and related industries.

The meeting underscored the shared commitment between the Sri Lankan government and the UN to strengthen industrial development, enhance exports, and support sustainable economic growth in the country.

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