Deputy Minister of Industries and Entrepreneurship Development Chathuranga Abeysinghe has met with the World Banks Country Manager, Gevorg Sargsyan, and went over numerous structural challenges that have hindered the development of Sri Lankan industries over the past 4 decades.He said these include the absence of a national integrated commercial strategy, minimal access to capital for industrialists, weak institutional assistance for industrial growth, a lack of anti-dumping policies to safeguard local markets and the scarcity of a proficient workforce important for sustainable development.Furthermore, the conversation has likewise addressed contemporary issues, consisting of the unfavorable effects of current tax policy changes and the obstacles occurring from non-performing debts.In addition, the deputy minister stated they outlined their strategic vision for industrial advancement, short-term goals, and the particular forms of assistance that are needed to attain these objectives.The World Bank delegates shared insights into their ongoing programs and areas where they might support our initiatives.
Notably, they emphasized their focus on the Business Ready Index, technical assistance for research study, and State-Owned Enterprise (SOE) restructuring.Beyond their promised funding for farming transformation, they used insights on how their knowledge could line up with our broader objectives, Deputy Minister of Industries and Entrepreneurship Development Chathuranga Abeysinghe published on X (formerly Twitter).
The World Bank delegation consisted of Mr.
Gregory Smith (Lead Economist), Mr.
Victor Anthonypillai (Senior Country Officer, IFC), and Ms.
Amila Dahanayake (Economist).
My group comprised Mr.
Yasas Hewage (Personal Secretary) and Ms.
Melani Augustine (Coordinating Secretary).