Government’s objective is to strengthen the ‘Enterprise Sri Lanka ‘ programme by encouraging the country’s own industrialists to enter the global market and foreign investors to commence business opportunities in Sri Lanka , Prime Minister Ranil Wickremesinghe said .
The Prime Minster was addressing the annual CNCI Achiever Awards 2018 ceremony, conducted by Ceylon National Chamber of Industries (CNCI). Over 500 local industrialists represented their respective manufacturing and service sectors at the event.
Through the `Enterprise Sri Lanka ‘programme, the Prime Minister said the Government will draft new laws with the Ministry of Development and International Trade to give investors a guarantee to their businesses. This was needed to change the impression among most local and foreign industrialists that their industries will be nationalized any time.
Stressing the importance of establishing the Trade Adjustment Package, he said the Government with the help of all stakeholders in the industrial sector has a massive plan to develop the country’s economy to further heights.
“The Trade Adjustment Package will encourage our small, medium and large industrialists and the Government will discuss with State banks, development banks and commercial banks to encourage industrialists.”
The Premier said the Government’s plan is to distribute Rs. 10 billion through the new Development Bank to stakeholders to develop their industries
The Premier also said the GSP Plus concession has given industrialists all the encouragements and the path to easily access leading countries in the world.
“Although Sri Lankan exporters currently export only three to four verities we have to encourage them to export at least eight to nine categories to the European Market,” he said.
Talking about the FTA with Singapore, the Premier said it will never show any harmful result to our country as the Government is monitoring the progress of it to ensure that it gives fruitful results.
He said FTA s will not harm locally manufactured products anyway as the Government’s objective was to protect local industrialists when signing FTA’s even in the future.
The Prime Minister also said to encourage industrialists the Government will grant assistance such as tax incentives which is over 100 per cent of the capital investment and industrialists in the North will get 200 per cent depreciation.
He also talked about the significant development of the tourism industry and said new hotels will be opened.
CNCI , Chairman Raja Hewabowala said the achievers awards ceremony encourages not only the industrialists and service sector personnel but also helps to swell the country’s economy.
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