The government hopes to increase export income up to US $ 13 billion this year, with the assistance of various Cabinet Ministers, says the State Minister of Money & Capital Market and State Enterprise Reforms, Ajith Nivard Cabraal.
He stated this speaking at a media briefing held at the Finance Ministry on the 25th to explain the current government’s economic policies and state debt.
During the discussion, he pointed out that the gem sector was a particularly targeted sector and it lacks a market. Yet by creating a market for it in the country, Sri Lanka expects to earn around US $ 1 billion.
Speaking further the Minister said that Thailand has been earning more revenue from Sri Lankan gems than Sri Lanka this year.
He said that steps will be taken to bring the total revenue of gems to Sri Lanka and accordingly the barriers in the export of gems have been removed including the tax.
In addition, he said, the government expects to generate large revenue through the provision of services and tourism and that amount exceeds US $ 6 billion.
The Minister further said that around US $ 1.7 billion could be earned through IT and consulting services.
Furthermore, the Government hopes to earn foreign income through migrant workers and has already started training in collaboration with the Bureau of Foreign Employment.
Thus in the future, insured Sri Lankan migrant workers will be able to work successfully and earn a better foreign income.
State Minister elaborated that the government has already taken steps to attract foreign investment through the Port City and the Hambantota Investment Zone.