COLOMBO, Aug 26 (ePRESS) – Sri Lanka’s gem industry is among the most corrupt and competitive in the world, Deputy Minister of Industry Chathuranga Abeysinghe said yesterday, warning that the government will take strong steps to clean up the sector.
Speaking at the launch of the third annual Gem Sri Lanka, which will be held from January 7 to 9 at Shangri-La Colombo, Abeysinghe said corruption in the local gem trade runs deep — from issuing mining certificates to tax payments.
“The government is taking many steps against corruption to create a level playing field and make everyone equal in front of the law,” he said.
He also blamed the complex tax structures introduced by previous governments, calling them a stumbling block that kept the industry from performing as a major foreign exchange earner.
Export Development Board (EDB) Chairman Mangala Wijesinghe, speaking at the same event, said the gem industry is expected to generate more than USD 400 million in 2026 — the highest revenue in recent years.
“We will also record the highest export turnover from all sectors in 2026, which will be over USD 18 billion,” Wijesinghe added.
He further disclosed that Sri Lanka Expo will be held in Colombo in 2026, after a gap of 13 years, marking a major comeback for the country’s trade promotion calendar.
