Government Commits to Strengthen Key Sectors
In a decisive move to advance industrial development and entrepreneurship in Sri Lanka, the Cabinet of Ministers has approved a Rs. 100 million allocation for a series of targeted initiatives. These projects are funded through the 2025 Budget under the Sectoral Development Program and aim to drive innovation, enhance local production, and support small businesses.
Entrepreneurial Reality Show Among Flagship Programs
A standout initiative under this funding is a reality TV show organized by the Small Business Development Division to identify Sri Lanka’s top entrepreneurs. From a shortlist of 1,000 candidates, the program will select the best performers, with the government contributing Rs. 25 million. The remainder of the funding will be sourced from the private sector, reflecting a public-private partnership approach to entrepreneurship development.
Textile, Ceramics, and Export Infrastructure Get a Boost
Other funded projects include the Industry Export Exhibition by the Industrial Development Board (IDB), a pilot project by Lanka Salusala Ltd. aimed at supporting local textile production through subsidized indirect funding, and working capital support for the Lanka Ceramic Combined Board. In addition, funds will be used to purchase advanced scanner machines for the Export Development Board’s (EDB) Cargo Village checkpoint at Bandaranaike International Airport, improving security infrastructure.
Strategic Execution for Long-Term Growth
At the weekly post-Cabinet briefing, Cabinet Spokesman Dr. Nalinda Jayatissa said that agencies like the Small Business Development Division, IDB, Lanka Salusala Ltd., Sri Lanka Ceramic Corporation, and the EDB will carry out these projects using their current staff and resources under the Industries and Entrepreneurship Development Ministry.
He added that the main goal is to improve each sector’s performance through good planning and smart use of resources, helping the country’s industry and entrepreneurship grow steadily.
The plan, shared by Minister Sunil Handunneththi, was fully approved by the Cabinet.