Sri Lanka to launch industrial development drive in the districts
Sri Lanka is to launch a programme to support new industries in the districts with the allocation of a sum of Rs. 100 million as investment to promote the programme under the respective Divisional Secretariats.
The government of Sri Lanka reportedly plans to promote at least one project at each Divisional Secretariat division and thereby generate small and medium scale enterprises, increase employment and entrepreneurialism at rural level.
Promotion of value-added production utilising local resources and raw material at Divisional level is another objective along with encouraging exports and import substation, according to local media reports.
The Cabinet of Ministers has reportedly approved a joint proposal by Sri Lanka’s Industries Minister Wimal Weerawansa and Youth and Sports Affairs Minister and Digital Technology and Entrepreneur Development State Minister Namal Rajapaksa.
“This will be a special program to promote entrepreneurship, new investments, industries and jobs at Divisional Secretariat division level,” Cabinet Co-Spokesman, Minister Keheliya Rambukwella has told the media.
“The initiative will also help in minimising imbalance in regional development and maximising the use of abundant resources at district level for productive use,” the Minister has added.
OSL take:
Sri Lanka’s industrial development programme has expanded creating business/investment opportunities in the country’s industrial sector. Sri Lanka’s development programme as well as its poising as a business hub in the South Asian region have further boosted the business/investment opportunities in Sri Lanka’s industries sector. The many trade agreements as well as tradeconcessions enjoyed by the country have added to the advantages of exploring business/investment opportunities in Sri Lanka’s industries sector.
| Article Code : | VBS/AT/20210611/Z_4 |