Industry Gold!
Posted on May 17th, 2013

PRESS COMMUNIQUE “”…” MINISTRY OF INDUSTRY & COMMERCE,

  • “ƒ”¹…”Sri Lanka historic industry rate surpassing GDP rate’ “”…” Rishad
  • Public & Private Ind. Indices rising!
  • 10.3% Ind. Surge in Y2012

richardbati

 

Preethi Jayawardena (Chairman “”…” CNCI- at centre) looks on as Rishad Bathiudeen
(Minister of Industry and Commerce-left) receives a light hearted comment from Kumara Kandalama (SG / CEO of CNCI-at right)
on 14 May at the CNCI Achiever Awards launch event held at Cinnamon Grand Hotel, Colombo. 

As Sri Lanka experienced a 10.3% industry surge in 2012, Sri Lanka’s historic industry growth rate appeared to exceed the growth rate of its own GDP. “As the Minister of Industries, I am pleased to say that our historic industry sector growth has surpassed even the national GDP growth rate-in that, the industry “ƒ”¹…”value addition’ to the GDP in 2012, is 62 times to that of 1960 when CNCI began at only US $ 269 Million. Our industrial exports too, increased by 28%, in 2011″ said Rishad Bathiudeen, Minister of Industry and Commerce on 14 May in Colombo.

Minister Bathiudeen was addressing the CNCI Achiever Awards 2013 launch event held at the Cinnamon Grand on 14 May. Top CNCI officials including Preethi Jayawardena (Chairman “”…” CNCI and Kumara Kandalama (SG / CEO of CNCI) and leading Lankan industrialists were present on the occasion. The CNCI

Achiever Awards, for industrial & service excellence is a Pioneer scheme and was the brain-child of the CNCI Chamber.  The  “ƒ”¹…”‘Achiever Awards “ƒ”¹…”‘  are being  noted as the Benchmark of Industrial excellence, in Sri Lanka, due to  Stringent and Professional evaluation by an eminent panel of Judges. The special feature of the Achiever awards are that the Sri Lankan Industrialists operating in SAARC Countries too are rewarded for their operational excellence.  Also the Nominated and selected Industrial enterprises, recommended by individual Chambers of Commerce in SAARC Countries such as India, Pakistan, Bangladesh, Nepal, Bhutan and Maldives, are also rewarded, by the CNCI.

“This is a valuable  SAARC networking opportunity, for our industries” said Minister Bathiudeen, and added:  I am sure that CNCI, operating since 1960 is familiar with the gradual transition and liberalization of our industries over the last few decades from state controlled set up to a dynamic segment with private sector participation.  Our GDP in 1960 was only $ 1.4 Bn but today it is $ 60 Bn  growing by more than 42 times. As the Minister of Industries I am pleased to say that our industry sector growth in this period has surpassed even the national GDP growth rate-in that, the industry “ƒ”¹…”value addition’ to the GDP in 2012 is 62 times that of the value addition in 1960 which was only US $ 269 Million. Our industrial exports too increased by 28%, in 2011.  The other notable development is the growth in private sector involvement in our industrial sector. This is clearly evident in more recent times. Specially in the period, of 2001 to 2010, Sri Lanka’s private sector industrial participation has almost doubled. The “private sector industrial participation index”  which was at 110.2 in December 2001 increased by 96.2%, to a huge 216.2 by December 2010. Despite this our “Public Sector Industry Output” did not decline. In fact, the “Public Sector Industry Output Index” has been on a growing trend, and in 2011 it increased by a strong 20 percent. Most importantly, thanks to the committed vision of, HE the President Mahinda Rajapaksa, I am pleased to state that our Industry sector grew by 10.3% in 2012 and even the overall GDP rose by 6.4%.”

Discussing innovations in Sri Lanka, Minister Bathiudeen  sad: “There is no argument that innovations are essential for the growth of industries in any country. Though Sri Lanka is not an industrial giant of the first world and our research and development is still in early stages I am glad to note that our industries are becoming, more and more innovative.  For the 11 year period, of 2002 to 2012,  2250 new patents and 2581 new designs were registered in Sri Lanka by the National Intellectual Property Office, under my Ministry.  15774 trademarks too were successfully registered. These are positive developments, for our industrial growth.”

 

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