President Anura Kumara Dissanayake has urged urgent action to attract foreign and domestic investment into Sri Lanka's mineral industry, citing regulatory delays and institutional barriers as key obstacles to growth.
President Anura Kumara Dissanayake convened a discussion at the Presidential Secretariat on Tuesday afternoon to explore strategies for developing Sri Lanka's mineral industry in accordance with the export-oriented National Mineral Policy 2026. The meeting brought together officials from the Sri Lanka Mineral Sands Association and the Geological Survey and Mines Bureau to address how the sector might be better positioned to contribute to national economic growth and export earnings.
The President identified bureaucratic inefficiencies as a primary impediment to sector expansion, particularly highlighting delays and complications that investors face when obtaining mining licences and navigating government institutions. He stressed that faster approval processes and clearer procedures are essential to creating a more predictable investment environment. Additionally, President Dissanayake called for enhanced coordination among the various government agencies responsible for regulating and facilitating mineral sector investment.
Beyond addressing institutional obstacles, discussions focused on modernizing the policy framework and improving the sector's infrastructure. The government aims to move mineral development beyond simple extraction and raw material export toward value addition and domestic manufacturing. This strategy includes promoting research and development initiatives designed to support the creation of higher-value mineral products for international markets. The President emphasized that maximum transparency must be maintained throughout the investment attraction process to build confidence among both local and international investors.
The meeting included Minister of Industry and Entrepreneurship Development Sunil Handunnetti, Board of Investment Chairman, Senior Economic Adviser Duminda Hulangamuwa, and senior officials from relevant regulatory bodies, alongside representatives from the mineral industry.