President focuses on strengthening industrial and entrepreneurial development

Saturday, 15 March 2025 00:20 - - {{hitsCtrl.values.hits}}

Focuses on streamlining, integrating and developing manufacturing sector for greater efficiency
Aims to implement regulatory measures and targeted investments to create sustainable, competitive industrial sector
Directs officials to expedite release of lands allocated to Industry Ministry that have not yet been made available to facilitate expansion

President Anura Kumara Dissanayake

President Anura Kumara Dissanayake yesterday stressed the need for a more efficient, integrated and strategically developed industrial sector to drive economic growth.

During a meeting held yesterday at the Presidential Secretariat with officials from the Industry and Entrepreneurship Development Ministry, the President engaged in discussions on key issues affecting the sector.

The topics covered included Government-led initial investments, the need for proper regulation to empower SMEs and the establishment of local small-scale industries within investment zones.

His focus extends to encouraging small and medium-scale enterprises (SMEs), enhancing local industries and addressing critical challenges hindering industrial expansion.

The Government aims to implement regulatory measures and targeted investments to create a more sustainable and competitive industrial sector.

The meeting also highlighted the difficulties SMEs face in accessing business loans, a critical barrier to their growth.

President Dissanayake directed officials to expedite the release of lands allocated to the Industry Ministry that have not yet been made available to facilitate industrial expansion.

The discussion also focused on maintaining and regulating import restrictions to prtect and strengthens local industries as well as prioritising local suppliers in construction industry procurement to ensure the sustainability of domestic businesses.

A key issue raised was the development of the gem and jewellery sector, which has the potential to make significant contribution to the economy. To support this industry, the President instructed officials to swiftly implement tax exemptions for tourists, a move aimed at boosting demand and increasing revenue.

Industry and Entrepreneurship Development Minister Sunil Handunneththi, Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe, Secretary to the President Dr. Nandika Sanath Kumanayake, Secretary to the Ministry of Industry and Entrepreneurship Development Thilaka Jayasundara and several other ministry officials attended the meeting.

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