$3 billion export goal set for coconut and food industries

President Anura Kumara Dissanayake met with industry leaders on Friday to plan the expansion of the coconut and food and beverage export industries into a $ 3 billion economy by 2028. The strategy aims to grow coconut-based exports to $ 2 billion and food and beverage exports to $ 1 billion within the next two years.

The government intends to offer incentives to encourage export diversification and the creation of value-added products. During the discussion, officials agreed to support the establishment of manufacturing industries in the Northern Province and reviewed proposals to streamline raw material imports while protecting domestic producers.

This initiative forms part of a broader goal to transform the national economy into an export-oriented production model by strengthening local supply chains. Attendees included Minister of Labour and Deputy Minister of Finance and Planning Anil Jayantha Fernando, Secretary to the Ministry of Finance, Planning and Economic Development Dr Harshana Suriyapperuma, Secretary to the Ministry of Industry and Entrepreneurship Development Thilaka Jayasundara, Export Development Board Chairperson Mangala Wijesinghe, and various representatives from leading food production and business organisations.