Sri Lanka Unveils Five-Year Plan To Drive Productivity-Led Growth

KUALA LUMPUR, Nov 21 (Bernama) -- Sri Lanka launched its National Productivity Master Plan, a five-year roadmap aimed at shifting the country from crisis recovery to productivity-driven, export-led growth, on Nov 20.

The plan, covering 2024–2029, was developed by the National Productivity Secretariat and the Ministry of Industry and Entrepreneurship Development of Sri Lanka with technical support from the Asian Productivity Organization (APO) and draws on analytical work led by the Korea Development Institute’s Center for International Development.

APO Secretary-General Dr Indra Pradana Singawinata said the blueprint is intended to help Sri Lanka move beyond short-term stabilisation.

“Stabilisation has begun, but transformation has not yet been secured. This master plan is the bridge between short-term stabilisation and long-term, self-sustaining prosperity,” he said in a statement.

Its Ministry Secretary J. M. Thilaka Jayasundara called the launch “a very happy moment” for Sri Lanka’s long-running productivity movement, emphasising ambitions to embed productivity across society.

She cited 2030 targets to lift industry’s gross domestic product (GDP) share to 28 per cent and boost industrial and total export revenues to US$28 billion and US$45 billion, respectively. (US$1=RM4.15)

Meanwhile, Deputy Minister Chathuranga Abeysinghe described the plan as “a turning point for the country”, noting that the creation of a National Productivity Commission will be critical for implementation and oversight.

The roadmap outlines targeted reforms focused on innovation, human capital, modern infrastructure, streamlined public institutions, and sector-specific strategies for key tradable industries. The goal is to raise productivity, expand fiscal buffers, strengthen the external position, and turn overseas employment from a necessity into a choice.

Following the launch, Dr Singawinata and the APO–Korea Development Institute delegation met Prime Minister Harini Amarasuriya to formally present the plan and discuss next steps, reaffirming the government’s commitment to treating productivity as a national reform priority.

-- BERNAMA