Renaissance in industry sector soon – Minister Handunnetti
Using the digital economy concept and industrial park concept, the Government intends to boost the industrial sector with the support of young entrepreneurs, Industries and Entrepreneurship Development Minister Sunil Handunnetti said, assuming office at the Industries Ministry yesterday.
Minister Handunnetti opined that although building industries and entrepreneurship is a huge part of the economic development of the country, there were several reasons that led to the breakdown in the country’s industry sector and one of the main causes was wrong economic policies.
The Minister said institutions that could have been converted to profit-making state entities were sold to friends for a pittance and instead of this policy, the NPP Government plans to go for an economic development programme that harnesses the support of the people and capitalises on the potential of the country.
Minister Handunnetti said the Government plans to start new industries and convert hitherto non-profitable state institutions into profit-making entities in a short period of time. He said they have an understanding of the problems industrialists face in the country. Mainly from the time of the corona pandemic, industrialists found it difficult to pay their debts and as a result, many industries faced the predicament of collapsing, leading to making their employees redundant and their assets being sold due to parate law. The Minister said because of this continuing business has become a huge problem and entrepreneurs have fallen into a huge crisis.
“We believe that we should not only start new businesses, we also need to bring foreign investments into the country and we need to get together with the banking sector to quickly address the raw material, capital and market problems faced by the industrial sector.”
Minister Handunnetti assured that he would convert the Industries Ministry into the best ministry that guided young industrialists in the country.
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