The Hon. (Mrs.) Oshani Umanga

¶ 01 Hon. Deputy Chairperson, as an entrepreneur representing industry and entrepreneurship development, it is a privilege to be invited to this Parliament.

¶ 02 Sri Lanka is not an industrial nation, though we have some production — insufficient for national needs. The main reason is the lack of a production culture. Since 1977, a consumption culture took hold; from bricks to thread, we imported from India and China, pushing the country towards lazy consumerism, and, worse, towards looting — selling land, soil, sand, and stone. Some former MPs became notorious for land grabs and quarrying across the country. People demanded a system change — a shift to production thinking.

¶ 03 We did not produce knowledge, concepts, brands; innovation declined; we imported all. Instead of building a production economy, past rulers used imports for commission rackets. Regardless of party, some Ministers held the Industry Ministry as their personal fiefdom. People changed that. We were trapped in a buying-and-selling racket economy. Now the people have voted for “Prosperous Country – Beautiful Life”.

¶ 04 This Budget was crafted with a keen grasp of the depth of the crisis. I expected more constructive critiques from entrepreneurs; instead, we mostly heard lamentations. Yet Sri Lanka has teams capable of delivering system change. We have producers and entrepreneurs, especially women — naturally inclined to creation — whose strength we must harness.

¶ 05 We must also work with innovators and researchers to build a production culture. The Government has taken responsibility to bring entrepreneurs into the national process. We cannot do every industry done elsewhere, but we have unique strengths — notably minerals: high-purity quartz (up to 99.99%), calcite, dolomite, feldspar, phosphate, ilmenite, monazite, and gems. Only about 20% of our gem-bearing lands (estimated at about 70% of the landmass) have been explored. Recognising exploration as a priority, the Gem and Jewellery Research and Training Institute is deploying new technology; around Horana — Ingiriya, Dehiovita, Ayagama, Pelmadulla — surveys and zoning have begun.

¶ 06 We export gems largely as raw; we are moving to value-added products and branding Sri Lanka globally. Rs. 0.12 billion is allocated for gem and jewellery research and training. For 2025, Rs. 99 billion is allocated for economic services and entrepreneurship. Rs. 1.5 billion is for establishing new industrial zones and developing infrastructure in 32 existing zones, applying a “one product, one zone” concept — e.g., a zone for gems and jewellery, one for leather products, one for ornamental fish, one for food processing. Today, however, some zones mix food producers next to chemical factories — unscientific planning we will correct.

¶ 07 In 2025, we will allocate land to at least 50 investors for optimal industrial productivity. Previously, lands were given even for bottle or bite shops, or on personal promises; projects failed and lands were misused. We will allocate fairly to genuine entrepreneurs.

¶ 08 Post-approval procedures after Risk Committee clearance have been too lengthy. The Hon. Minister has addressed this here; we will streamline so entrepreneurs are not trapped in red tape.

¶ 09 We have allocated Rs. 2.4 billion to attract investment. In our Government there is no “Mr. Ten Percent” or “Mr. Twenty Percent”; no shakedowns of investors. For SME development, Rs. 38.64 billion is allocated. Rs. 20 billion is for SME revival and incentive loan schemes, including Rs. 4 billion to “SMILE III” and Rs. 1.5 billion for necessary machinery imports and sustainable investment.

¶ 10 Previously, when such loan schemes arrived, cliques grabbed them; genuine entrepreneurs missed out. We will ensure fair access. We are driving an industrial renaissance. Rs. 14.4 billion is allocated for tourism. In January–February alone, tourism earned US$ 764.2 million — the highest two-month figure since 2020. In 2025, we target three million tourists and over US$ 5 billion in revenue, benefiting everyone from hoteliers to the youth selling coconuts on the roadside.

¶ 11 This is the people’s Budget — steering towards economic recovery and fuelling an industrial resurgence. If we cultivate an entrepreneurial mindset and take the risks, this is the best opportunity. We invite a generation that creates jobs rather than seeks them. Thank you.