Join in the process of nation building by investing in local industries -President

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Join in the process of nation building by investing in local industries
Join in the process of nation building by investing in local industries

Sri Lanka President Gotabaya Rajapaksa invited local entrepreneurs to invest in local industries and join in the process of nation building.

The President made these remarks at a discussion held with large scale entrepreneurs in various fields at the Presidential Secretariat February 21.

The discussion was convened with the objective of obtaining the assistance of the private sector in the development process. There were discussions on a number of areas including foreign exchange generation, state fiscal policy, foreign employment promotion, investment incentives, increasing exports, renewable energy, agricultural products, adequate supply of fertilizers and tourism promotion.

Join in the process of nation building by investing in local industries

Entrepreneurs can rectify misconceptions

: President

  • Govt.’s COVID control process helped in protecting business.
  • Improve tourism facilities.
  • Let’s expand higher education opportunities within the country.

: Entrepreneurs propose

The President said that large-scale investments in a number of sectors, including renewable energy, green agriculture, technology parks and greenhouses, would open up a great opportunity to control foreign exchange.

Appreciating the support of local entrepreneurs to build the country, the President said that the business community has the ability to rectify the misconceptions that some are spreading to achieve their narrow goals, in an environment where the government is trying to rebuild the economy in the face of a global epidemic.

Minister Basil Rajapaksa pointed out that the shortage of cement has arisen due to the increase in demand for cement with the revival in the construction sector during the past two years and said that the government is focusing on manufacturing cement in the country in future.

Pointing out that there is no shortage of essential commodities in the market, the Minister urged the traders not to take undue advantage of the decision taken to remove some of the price controls except for medicinal drugs.

Central Bank Governor Ajith Nivard Cabraal said the government would take steps to maintain fuel reserves in a manner that would not harm the development and industries, despite the challenge of obtaining fuel on ready cash.

The Central Bank Governor said that the country is losing foreign investment opportunities due to false propaganda about the country’s economy, and added that the government has the ability to repay all foreign loans and will take steps to attract investments into the country.

The entrepreneurs who praised the government’s Covid-19 control programme said that their businesses were safeguarded due to the success of this programme. They pointed out that Sri Lanka received a large number of orders due to the failure of some countries to effectively control the Covid-19 pandemic.

The country is witnessing a large revival in the tourism sector in the post-COVID-19 period. The entrepreneurs noted the need to enhance the facilities to promote tourism.

The entrepreneurs also requested the President to take measures to prevent the students from leaving the country to pursue higher education and to set up a mechanism to create such educational opportunities within the country.

Secretary to the President Gamini Senarath, Principal Advisor to the President Lalith Weeratunga, Finance Ministry Secretary S.R. Attygalle and many entrepreneurs from various fields were present at the meeting.

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