Home » Government aims to generate US $1 billion from jewellery exports in 2023

Government aims to generate US $1 billion from jewellery exports in 2023

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The government is planning to secure US $1 billion from jewellery exports in 2023 facilitating value addition of local gems, Minister of Industries and Plantations Ramesh Pathirana disclosed.

Participating as the Chief Guestat the opening ceremony of FACETS gems and jewellery exhibition in Colombo yesterday Minister Pathirana detailed the government’s plans for the gem and jewellery industry saying, “all technology and equipment related to value addition will be duty free.

A committee will also be appointed to facilitate a pension plan for gem miners and other related occupations, he added.

One of the most sought after international gem and jewellery shows on the global procurement and sourcing calendar, FACETS Sri Lanka Premier Edition was inaugurated by Minister of Industries and Plantations Ramesh Pathirana.

Hosted by Cinnamon Grand and organised by the National Gem & Jewellery Authority and Sri Lanka Gem and Jewellery Association, FACETS Sri Lanka also signals that the island-country is ready and open for business.

In his welcome address, Chairman of SLGJA Ajward Deen stated that the Government of Sri Lanka must recognize the industry as a key forex earner. “The Government must be a facilitator towards the future continuance of this industry which most often is plagued by numerous and inefficient bureaucratic challenges which hinders its growth.

The incentives that have been eliminated recently should be reconsidered. The public-private sector partnership which is very much at the heart of this year’s exhibition, stands as testimony to a collaborative partnership which will benefit not just the industry, but the entire nation.”

Chairman FACETS Sri Lanka Altaf Iqbal emphasized two points about the exhibition; the fact that the exhibition signals to the world that Sri Lanka is ready and open for business and it being the first to example a solid and working public-private partnership.

“This is probably one of the rare instances where we see the government being the facilitator and the private sector being the driver, a paradigm that can be cascaded to other industries as well.”

The Sri Lanka Gem & Jewellery Association (SLGJA) is the apex private sector organisation representing the interests of all industry sub-sectors from mining through manufacturing, wholesale and retail. It organizes FACETS Sri Lanka in partnership with the National Gem and Jewellery Authority and the Sri Lanka Export Development Board.

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