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President highlights need for rapid development as gems and jewellery industry spurs impressive export revenue

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During a recent discussion held at the Presidential Secretariat to address issues within the gem and jewellery industry, President Ranil Wickremesinghe urged officials to swiftly provide comprehensive plans for achieving the country’s objective of bolstering annual export earnings through enhancements in gem and jewellery exports and re-exports.

Within this discourse, the President highlighted the importance of promptly addressing challenges in the gem and jewellery sector to boost the country’s revenue from exports.

He stressed that progress toward this year’s target growth in the industry has not met expectations compared to the previous year. As a result, he emphasized the necessity of implementing a well-structured strategy aimed at attaining an annual export revenue of at least two billion US dollars.

Furthermore, the President revealed that recommendations pertaining to tax policies for the advancement of the gem and jewellery sector were submitted to him by the “Sectoral Monitoring Committee on Environment, Natural Resources and Sustainable Development”.

Deliberations extended to discussions on taxes impacting the industry as well as the export and re-export procedures. Pertinent stakeholders also shared insights with the President regarding the challenges that have arisen within the sector.

President Ranil Wickremesinghe assured that the government is fully prepared to provide necessary support and facilities if a formalized plan to elevate the gem and jewellery industry in Sri Lanka is promptly presented.

Notable figures present during the discussion included State Minister of Investment Promotion Dilum Amunugama, Secretary to the President Saman Ekanayake, Senior Advisor to the President on Economic Affairs Dr R.H.S. Samaratunga, Chairman of the Sectoral Monitoring Committee on Environment, Natural Resources and Sustainable Development Ajith Mannapperuma, committee members, and heads of associated line agencies.

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