INSUBCONTINENT EXCLUSIVE:
President Gotabaya Rajapaksa has pointed out that opportunities in the industrial sector should be expanded for local and foreign investors
to earn foreign exchange expeditiously.He said long-standing rules and regulations are a serious barrier to investment
President Rajapaksa said that a great deal of work needs to be done for the promotion of the industrial sector by adopting new strategies to
Colombo, today (16).President Rajapaksa pointed out the need to identify industries that can earn foreign exchange and to expedite the
preparation of future measures for their development
the officials to look into the possibility of using the foreign exchange earned from the export industry directly for the import of raw
materials.Minister Ramesh Pathirana stated that a new policy will be formulated for local industries
amount of foreign exchange that can be earned from the gem industry is very high, due to the existing rules and regulations, Sri Lanka does
not get a proper profit for the gems.Secretary to the Ministry of Industry General (retd.) Daya Ratnayake said that the rules and
regulations of many state institutions discourage the creation of new industries and the running of existing industries
As a result, the country has lost many foreign investors, he said.The President pointed out that investors could not be won over if all
industry approvals did not work together to find solutions to existing problems
Dissanayake and officials of line institutions belonging to the Ministry of Industries were also present at this meeting.-PMD
This article first appeared/also appeared in https://adaderana.lk
