SL to designate 1% of total land area for industrial use

Minister of Industry and Health Ramesh Pathirana recently emphasised the need to expand industrial land allocation in the country due to limited availability of land for industrial purposes. 

The goal is to designate 1 percent of the nation’s total land area for industrial use. He made these remarks during a recent press conference under the theme ‘Collective Path to a Stable Country.’

Pathirana said the National Policy for Industrial Development of Sri Lanka (NPID) has been meticulously formulated and presented to the Cabinet. It has gained approval for inclusion in Sri Lanka’s National Policy Framework (2023-2048) by the Committee on Economic Stabilisation Revitalisation and Growth Enhancement.
“Additionally, a comprehensive five-year strategic plan related to the industrial policy is being implemented. Amendments to the Industrial Promotion Act No. 46 of 1990 have been made to align it with current and future requirements,” he said.

Further he said there’s progress in formulating a national policy for automobile production, including assembly and manufacturing of automobile components. 
Committees have reviewed the initial draft of the E-Vehicle Guideline and provided valuable suggestions. The process of revising the guidelines is underway.
He also said efforts are ongoing to establish new institutions associated with car assembly and car parts production in 2023. Special national programmes are also in place for creating industrial zones and industries at regional and district levels.

Sri Lanka is focusing on developing existing regional industrial estates and creating new ones. Plans include a 100-acre industrial park equipped for electric vehicle assembly and accessory production in the Katunayake Katana area. New industrial posts are being established in various districts.
Additionally, Sri Lanka has introduced a new sales method for mineral sand through Ceylon Mineral Sand Company, allowing bidders to submit prices online. The sales using this method have generated significant revenue, contributing to the country’s economic progress, Pathirana said.