New EDb chief plans to achieve USD 30 bn export income by 2030

Mangala Wijesinghe assumed duties as the 16th Chairman of the Sri Lanka Export Development Board (EDB) on October 16 at the EDB headquarters.

Upon assuming his new role, addressing the staff he said,” We should diversify and focus more on high-tech industries like electronics and pharmaceuticals, similar to what other countries like Singapore and South Korea are doing. We have to focus on that as well.”

“Another important factor is service exports. Last year, service exports recorded USD 3.1 billion in revenue compared to 2022, reflecting a 69% growth, mainly driven by ICT, logistics, transport, and construction.”

“The new government’s plan is to achieve USD 5 billion for ICT industry export revenue by 2030, and we also aim to reach that target. I would like to take this opportunity to highly appreciate the hard work done by my predecessors, especially the past Chairpersons, the Board of Directors and the staff members.”

“Sometimes, we may need to review our National Export Strategy, which was implemented in 2018. Our exporters are facing complex approval processes involving multiple activities. The new government plans to digitalize and interconnect all government institutions and services.”

“With that, I believe we can simplify and speed up these processes. We must identify and remove all barriers and impediments that hinder the growth of the export sector and find avenues to encourage exporters. We need to increase the number of products in our export basket and the number of exporters to boost our revenue. Therefore, we must align with the government’s plan. Hopefully, we can achieve this goal, as the government also aims to increase export revenue, and we must support its efforts.”

“We need to pay special attention to three key areas: increasing the current per capita export revenue, improving Sri Lanka’s ranking on the ease of doing business index, where we are currently positioned at 99, and achieving an export income of USD 30 billion by 2030.”

“I believe in your commitment, and as a person, I consider myself a team player. We need to work as a team to build a thriving nation.”

He initially joined Browns & Company 16 years ago and served as the Chief Operating Officer. Wijesinghe holds a degree in Economics from the University of Sri Jayewardenepura and a postgraduate degree in Business Administration from Cardiff Metropolitan University.

Source:Daily News