Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe marked his first year in office by highlighting major progress in Sri Lanka’s post-crisis industrial recovery, citing renewed confidence, SME revival, and accelerated reforms across the sector.
In a Facebook post, the Deputy Minister listed achievements of his ministry during his tenure, noting that more than 16,000 SMEs were in non-performing status at the start of the year.
“We inherited a country emerging from one of the most severe economic crises in its history. Our first responsibility in 2025 was clear: restore hope, rebuild confidence, and restart growth,” Abeysinghe said.
Achievements listed by the Deputy Minister
Key 2025 Economic Indicators:
* Exports grew 7%
* Industrial sector grew 9.7%, outpacing GDP
* Index of Industrial Production rose 6%
* Purchasing Managers’ Index reached 61 by October
* SME non-performing loans dropped by 20%
Entrepreneurship Resurgence:
In 2025 alone, 15,241 new entrepreneurs were registered under the SEDD, with the IDB recording 2,400 new enterprises and NEDA 1,294. The EDB reported 482 new exporters, while 993 firms shifted toward export markets under the TEAP scheme.
Access to Finance:
Rs. 1.3 billion was disbursed in capital expenditure loans to 201 industries, with Rs. 3.7 billion more in the pipeline. An additional Rs. 400 million supported 44 enterprises investing in renewable and sustainable manufacturing.
Major Reforms in 2025:
* 15 transformational reforms implemented in one year
* Institutional integration under a unified industrial structure (EDB, NPS, SEDD, SLIM)
* Launch of 10 new industrial zones; 3 completed
* Expansion of a 50,000-acre industrial land bank
* SME debt relief and NPL restructuring for over 200 businesses
* Nationwide productivity initiatives and village-level programs
* Skill upgrades for public officers and entrepreneurs
SOE Reform and Investment Readiness:
State-Owned Enterprises like BCC, Ceramic, and Paper Corp. have been stabilized, while Lanka Sugar and Lakshala are under restructuring. Strategic partnerships are being explored for entities including Lanka Phosphate and Paranthan Chemicals.
Export and Policy Reforms:
* New 5-year export strategy completed
* VAT refunds for priority sectors
* Expo 2026 launched to attract 1,500 global delegates
* Industrial and SME policy reforms introduced
Digital and Structural Improvements:
* Launch of the Industry 5.0 readiness index and national industry database
* Mergers of overlapping bodies such as IDB with NEDA and SEDD
* SLITA upgraded to a university for apparel sector excellence
* Performance-driven goals and KPIs introduced across the ministry
Abeysinghe credited the ministry’s achievements to collaborative leadership, public-private partnerships, and the dedication of over 2,700 government officials across the island.
“We laid the foundation in 2025. We restored confidence. We accelerated industrialisation. When Sri Lanka decides to move, we move fast and we’re not slowing down,” he said. (Newswire)