The Sri Lanka Gem and Jewellery Association has unveiled its visionary proposal titled ‘Sri Lanka Gemstone Hub Strategy: Sapphire Capital of the World,’ in a presentation ceremony held at the prestigious Cinnamon Grand Hotel.
During the event, President of the Sri Lanka Gem and Jewellery Association, Ajward Deen, delivered a resounding address in which he highlighted the culmination of months of meticulous planning, collaborative endeavors, and forward-thinking that has led to the concept paper being presented. Deen expressed pride in the proposal and emphasized the alignment of their aspirations with the visionary goals of President Ranil Wickramasinghe. Wickramasinghe’s commitment to elevating the gem and jewellery industry was underscored by his recent statements recognizing the sector’s pivotal role in Sri Lanka’s development.
Chanaka Ellawala, a Past President of the Sri Lanka Gem and Jewellery Association, elucidated the proposal’s core principles to an audience comprising dignitaries and ministers. The primary objective of the proposal is to invigorate the gem and jewellery industry in Sri Lanka by instituting a free trade period dedicated to the sale of gems and jewellery. This model, akin to successful systems in Dubai, Thailand, and Singapore, aims to enhance both immediate and long-term market dynamics within the sector, thereby fostering substantial foreign income inflow for the country.
In response to the proposal, Industries Minister Dr. Ramesh Pathirana remarked, “The introduction of a free trade zone system for the gem and jewellery sector is an imperative requirement for our nation. In light of this, the government is actively engaged in furnishing the necessary guidance and maximal support to propel the gem and jewellery industry, leveraging the abundant resources and capabilities present within Sri Lanka.”
The event was graced by the presence of Primary Industries State Minister Chamara Sampath Dassanayake and Investment and Promotion State Minister Dilum Amunugama, both of whom delivered noteworthy addresses, further underlining the significance of this monumental proposal for the country’s economic landscape.
