The need to enhance the industrial sector’s contribution to gross domestic product (GDP) was raised at a recent review of the projects implemented under the 2025 budgetary allocations of the Ministry of Industries and Enterprise Development, on Wednesday (27) at the Presidential Secretariat.

The discussions, involving President Anura Kumara Dissanayake, focused on future plans aimed at enhancing the contribution of the industrial and production sectors to the country’s gross domestic product, a statement released by the President’s Media Division (PMD) said.

Further emphasis was placed on increasing the role of entrepreneurship in the national economy and boosting export revenue, the statement added.

Particular attention was given to the establishment of industrial zones, the provision of concessionary loans for small and medium-scale entrepreneurs and improving facilities in the export sector.

The meeting also addressed challenges faced under the existing system of developing high-impact land for industrial purposes and allocating it to investors and possible solutions to issues affecting both industrialists and the Ministry of Industries.

Further, attention was drawn to difficulties encountered in granting concessionary loans to small and medium-scale entrepreneurs.

It was agreed that the Ministry of Industries and Entrepreneurship Development and the Ministry of Finance would work jointly to resolve these concerns, the PMD added.

Problems relating to the Sevanagala and Pelwatte sugar factories were also discussed. The President instructed officials to expedite the settlement of all outstanding payments due to sugarcane farmers.

In addition, the President directed officials to swiftly implement plans to identify and consolidate the services currently provided by institutions under the Ministry of Industries and Entrepreneurship Development, ensuring their effective coordination, it said.

He also instructed them to explore and propose additional services to be delivered to the public.