Sri Lanka moving towards industrialisation: PM

The Government is considering moving towards industrialisation in its plans to take the country forward, Prime Minister Ranil Wickremesinghe said.

He pointed out that since Sri Lanka requires rapid development, the Government must focus on industrialisation, as well as improving the tourism sector.

However, Sri Lankan investors do not possess necessary capital or resources to build industries and hotels to enact this plan and therefore, the country needs to attract Foreign Direct Investment.

“We require their assistance and technology, by which way we can enter, and dominate, the foreign markets,” the Premier said in a communiqué.

“For this, we must journey together. What we desire is to create a sustainable platform which enables the youth of Sri Lanka to have a better future than us,” he said.

The Prime Minister made these remarks at the opening of a joint venture with a Chinese company to produce electricity meters in Bandaragama.

The factory, Ante LECO Metering Company Ltd., is a 70% subsidiary of Lanka Electricity Company Ltd partnering with Ante Metering Company Ltd. of China.