Mangala Wijesinghe assumes duties as 16th Chairman of EDB
Thursday, 17 October 2024
Outlines vision to reach $ 30 b in export income by 2030, improve Sri Lanka’s ease of doing business ranking
Calls for a review of the National Export Strategy and removal of barriers hindering export growth
Aims to achieve $ 5 b in ICT export revenue by 2030, aligning with the Govt.’s goals
Insists diversifying Sri Lanka’s export focus towards high-tech industries like electronics and pharmaceuticals, inspired by models like Singapore and South Korea
Stresses importance of digitalising State agencies to simplify export approval processes
Mangala Wijesinghe officially took office as the 16th Chairman of the Sri Lanka Export Development Board (EDB) yesterday, pledging to lead the country’s export sector into a new era of growth and diversification.
Addressing the EDB staff at the headquarters, Wijesinghe outlined his vision for the Board and set ambitious goals, including improving Sri Lanka’s ease of doing business ranking (currently 99th) and achieving a $ 30 billion export income by 2030.
He called for a review of the National Export Strategy (NES), first implemented in 2018, and underscored the importance of removing barriers that stifle export growth.
With a vision to boost export revenue, Wijesinghe highlighted the need to expand the country’s export product base and increase the number of exporters.
He stressed the importance of embracing high-tech industries and service exports as key drivers for future growth.
“We should diversify and focus more on high-tech industries like electronics and pharmaceuticals, similar to what countries like Singapore and South Korea are doing,” said Wijesinghe.
He emphasised the need for Sri Lanka to move beyond traditional export sectors and adopt a more forward-looking strategy, especially as service exports saw a significant uptick in 2023, generating $ 3.1 billion in revenue — a 69% increase from the previous year, largely driven by ICT, logistics, transport and construction.
In alignment with the new Government’s goal of achieving $ 5 billion in ICT export revenue by 2030, Wijesinghe reaffirmed the EDB’s commitment to reaching that target.
He also commended the efforts of his predecessors, staff, and board members, acknowledging their contributions to the development of the country’s export landscape.
Addressing inefficiencies in the export process, Wijesinghe noted: “Our exporters are facing complex approval processes involving multiple activities. The new government plans to digitalise and interconnect all Government institutions and services. With that, I believe we can simplify and speed up these processes.”
Wijesinghe expressed confidence in the dedication of the EDB team and urged a collaborative approach to success.
Prior to his EDB appointment, Wijesinghe held the position of Chief Operating Officer at Brown & Company PLC and brings over 25 years of experience in senior management roles across pharmaceuticals, consumer electronics, industrial engineering, and telecommunications sectors.
Wijesinghe holds a degree in Economics from the University of Sri Jayewardenepura and a postgraduate degree in Business Administration from Cardiff Metropolitan University, UK. He is also a Chartered Professional Manager in Sri Lanka, with extensive expertise in business management and strategic planning.
He has been actively involved with both local and international associations related to export development.