The Electronic and Electrical Components (EEC) sector is an up-and-coming sector for Sri Lanka, with the potential to stimulate innovation, research and development (R&D) and investment in the country. The EEC sector is well positioned to benefit from the electronic and electrical component industry’s steadily increasing levels of manufacturing in Asia, and can contribute to the diversification and technological upgrading of Sri Lanka’s exports.
The National Export Strategy (NES) of Sri Lanka has identified the Electronic and Electrical Components (EEC) sector as a visionary sector for growth and development for the next five years. As electronics manufacturing has seen a steady growth in Asia, the NES focus on the sector will position this sector to benefit from expansion of the industry in Asia. This will lead Sri Lanka towards its aspirations to become a hub of growth and innovation in the Asian region, and thereby providing employment and prosperity to millions of Sri Lankans. The NES will provide a focused path for the sector to move forward in a way similar to this sector in other countries in the region that have the support of their government.
The EEC sector has great potential to make significant socioeconomic contributions to Sri Lanka through export-led growth. To realize this potential, competitive constraints and structural deficiencies must be addressed and identified opportunities need to be leveraged. The following delineates the vision and strategic approach needed to achieve this. All stakeholders in the EEC value chain in Sri Lanka agreed on the following vision statement.
“To be an emerging leader in the electrical and electronics manufacturing sector to meet Sri Lanka’s needs and export to the global market”
For the latest insight on the electronic and electrical sector please refer to (https://www.srilankabusiness.com/electrical-and-electronics/)
