The Sri Lankan government is focusing on exploring alternative avenues to boost export earnings and strengthen the economy.
Under this initiative, there have been extensive discussions around the potential cultivation and export of cannabis for medical and industrial purposes.
Currently, there is significant interest from foreign investors in Sri Lanka, with approximately eight proposals submitted from both local and international parties, including leading investors from countries such as Hong Kong and Thailand.
Mangala Wijesinghe, Chairman of the Export Development Board, stated that these proposals involve regulated cannabis cultivation within selected investment zones, production of value-added products, and their export to global markets.
However, he emphasized that no final approval has been granted yet. Since cannabis cultivation and export touch on legal, social, and health-sensitive matters, the government continues to deliberate extensively on the issue.
If these projects proceed, they are expected to generate substantial foreign exchange earnings for the country.
Particularly, the use of cannabis in pharmaceutical products, cosmetics, and various industrial products could open high-revenue export markets for Sri Lanka.
Relevant government institutions and stakeholders are scheduled to continue discussions to decide the way forward.
