President's Meeting Sparks Major Industry Reforms

COLOMBO (News 1st); Sri Lankan President Anura Kumara Dissanayake held a meeting today (14) with officials from the Ministry of Industry and Entrepreneurship Development at the President's Office.

The discussions centered on enhancing the efficiency, integration, and development of the manufacturing sector to bolster the national economy and address associated challenges.

Key topics included government-led initial investments and proper regulation to empower small and medium-scale entrepreneurs, the establishment of local small-scale industries within investment zones, and challenges related to business loans faced by small and medium-scale enterprises.

The President directed officials to expedite the release of lands allocated to the Ministry of Industry that have not yet been released. 

Further discussions were held on maintaining and regulating import restrictions to strengthen local industries, prioritizing local suppliers in construction industry procurement, and resolving issues in the gem and jewelry sector to ensure its full contribution to the national economy.

Additionally, the President instructed officials to swiftly implement tax exemptions for tourists to boost the gem and jewelry industry.

Source: PMD