One has to go to 270 institutions to get an industry approved. This should be reduced... - Prime Minister Dinesh Gunawardena

The Prime Minister mentioned this today (20.06.2020) at the Bandaranaike Memorial International Conference Hall while attending the "Industry EXPO 2024".

The Prime Minister speaking at the event stated that -

"The most competitive field to be planned and researched to overcome our upcoming challenge is the industrial sector. For that, we should lead in this field with a big plan and goal.

Private sector industries, problems faced by people in the export sector, new industrialists and industrialists who are re-establishing existing industries have to be raised through financial problems. Economic progress and financial crisis is a huge problem faced by our country today. That is why the President has focused on the need to reform the financial sector. The financial sector should be strengthened so that the industrial sector can recover quickly.

We are a country that is facing a challenge. The District Industrial Development Committee Act was approved focusing on district-wise industrial plans, investment zones, and creating industries in districts where raw materials are available, and importing raw materials for districts that do not have raw materials. It is very important to take this Act to the lower level and guide the industries emerging from those areas.

We have to accept the reality. At that time, it was revealed in the survey that we have to go to 270 institutions to get an industry approved. Former Presidents also tried to reduce this. A legal provision containing many new decisions in this regard will be passed in the coming days in the parliament. These two hundred and seventy institutions should be included in the district industrial development plan so that decisions can be made quickly. Such a plan is necessary for the investment and growth in the industry sector. We need both the foreign private sector and local private sector. The more foreign investments increase, the stronger our foreign economic balance will be. Moreover, new technology and new knowledge will come into the country.

A group consisted of talented officials should take quick decisions for the betterment of the country. The President has stated that we cannot become a country that postpones decisions. That is the reality. When we postpone decisions, the investor will start their work in another country. In those countries, approval will be received within a week. That is the truth. There is a great competition in the world. Now there are so many countries. We are proud of our industrialists who can compete with any country. In all circumstances, they protected their industries. The importance of this exhibition is for all those involved in the targeted development."

Ministers Ramesh Pathirana, Pavithra Wanniarachchi, State Ministers Prasanna Ranaweera, D. B. Herath, Secretary to the Ministry of Industries Shantha Weerasinghe, and domestic and foreign industrialists participated in this event.

Prime Minister’s Media