“Legal system updated for advancement of construction industry”
Steps have been taken to update the existing legal system in the country to suit the current situation and to make laws necessary for the advancement of the construction industry.
This was disclosed by Minister of Justice Ali Sabry at the inaugural ceremony of Build Sri Lanka International Exhibition that commenced on Friday and concluded yesterday at the Sirimavo Bandaranaike Exhibition and Convention Center under the theme ‘We can build Sri Lanka’.
Under this, steps are being taken to bring in a new Act to replace the existing Arbitration Act to expedite the resolution of arbitration issues.
The Minister said that steps will be taken to set up an Investment Court to expedite the settlement of commercial cases and it is very important to focus on conciliation especially for resolving existing issues. Mediation will be introduced to resolve matters without going to court.
He further said that the construction industry, in particular, is a great strength to the national economy of our country and despite the current economic crisis, it is important to encourage and provide the necessary facilities as the construction industry is an important factor in the progress of Sri Lanka. The Minister of Justice pointed out that countries such as Thailand, Malaysia and South Korea have faced the same economic challenges that Sri Lanka is currently facing and with the support of all, they have been able to overcome those challenges. The Minister added that all must work together to build a better-developed country for future generations.
The Minister of Justice also said that despite the economic challenges faced by the country, holding these exhibitions to encourage the industrialists engaged in the construction sector should be appreciated.
Minister of State for Housing, Indika Anuruddha, Chairman Chamber of Construction Industry Sri Lanka, Engineer Ranjith Goonetileke and Secretary Nissanka Wijeratne other dignitaries attended the inauguration ceremony.