Sri Lanka steps up efforts to maximise economic gains from mineral and mineral sand resources.
Daily FT: Industries Minister Dr. Ramesh Pathirana stressed the need to conduct a comprehensive qualitative and quantitative research on Sri Lanka’s mineral and mineral sand resources, to swiftly implement value-added industrial initiatives.
He made these remarks while the progress and challenges of Sri Lanka thus far were discussed at a special Ministerial Advisory Committee meeting chaired by Dr. Pathirana recently.
The necessity of executing value-added production projects for mineral and mineral sand resources was extensively discussed throughout the discussion. The challenges and obstacles that exist and challenges that may emerge were also widely discussed.
Minister said that special attention should be paid to the world’s innovative technologies, newest trends, and global market conditions in order to implement value-added products and achieve greater economic gains.
The efforts required designing specific programs to streamline the value chain products and provide the maximum facilities to linked enterprises, industrialists, and entrepreneurs were discussed. It was also decided to develop a formal discourse on technology in the nation under international circumstances.
OSL take:
Sri Lanka’s mineral resources, especially mineral sands, are a hitherto untappe business/investment opportunity. Given the growth momentum of the country’s manufacturing and esports sectors, there’s an increasing opportunity to use the country’s mineral resources in the manufacturing and exports sectors. Sri Lanka’s export authorities are also pushing businesses to diversify the country’s export product portfolio through value additions and diversification. The government of Sri Lanka has also decided to support such moves. Foreign businesses/investors could therefore explore the use of the country’s mineral resources on the manufacturing and export process. Foreign businesses could also look at forming partnerships or joint ventures with local businesses engaged in the manufacturing and export sectors in order to expand operations.
| Article Code : | VBS/AT/27102022/X_2 |