🇱🇰 Strategic Pivot: High-Value Services to Propel Exports 📈

• Senior Presidential Advisor advocates for a strategic pivot towards high-value service exports due to deep-rooted structural constraints limiting the scaling up of manufacturing. • This strategy is feeding into the National Export Development Plan (NEDP) 2025-2029 formulation. • Ambitious 2030 Export Target: The Government is aiming for US$ 45 Bn in total exports. • Merchandise Exports: US$ 25 Bn • Service Exports: US$ 11.5 Bn • Tourism Earnings: US$ 8.5 Bn • Manufacturing Hurdles: The sector is constrained by costly/unreliable power, an aging population, labour force limitations, and a lack of sufficient STEM graduates, keeping it largely in low-skill areas like apparel & textiles. • Service Potential: Huge opportunity to leverage Sri Lanka's geographical location: • Logistics: Reinforcing the nation as a key maritime/transhipment hub (Colombo Port ranks consistently in the top 50 global ports). • Tourism: Positioning the country as an up-market destination to substantially enhance service income. • The shift necessitates open and liberal economic policies, which contrasts with the current ruling party's prior focus on a 'production economy' (manufacturing and agriculture).