New Regulations to Rid Private Sector of Barriers and Red Tape – Handunnetti

Posted on the 08 December 2024 by Frontpage

Government will facilitate and bring new regulations to rid the private sector of barriers and red tape to thrive in a digital era, said Minister of Industry and Entrepreneurship Development, Sunil Handunnetti at the Global CEO Leadership Excellence Awards Ceremony held last week at ITC where 50 Top CEOs were awarded.

“President Anura Dissanayake is keen on embracing a digital economy. Hence Digital platforms will be in place for business and other activities that concern the masses. The government will rid you of barriers such as corruption and mismanagement and unblock the economy for you to add value. On January 1, 2025 we will launch a program which will change people’s attitudes and shed light on a green economy and prevalence of law and order within the country. We will start this from the legislative body which is the parliament,” he said.

On January 1, 2025 we will launch a program which will change people’s attitudes and shed light on a green economy and prevalence of law and order within the country. We will start this from the legislative body which is the parliament,” he said.

The minister further said, “The private sector had the determination to overcome challenges and weather the storm to drive the economy when our country was in dire straits. It has constantly looked forward to driving the country towards greener pastures hence these persevering CEOs deserve recognition.” He also said that presently 4,426 small exporters contribute towards the export economy of USD 11 to 12 billion.

‘‘Out of these, 474 exporters contribute to USD 10 billion which is 90 percent of the total export revenue. This clearly shows to which extent our economy was shrunk in the recent past. Our effort now is to enhance export economy.’’ The State sector and the corporate sector must join hands to add value to the GDP of the country. The government will be the facilitator while value addition to the economy will be brought by the corporate sector.

‘‘We have challenges with regard to taxes, finding raw material, securing export markets and we will support you to overcome these constraints’’ the minister assured.  With a marketing-oriented mindset we will re-organize key areas to facilitate you. We will enhance the economy whilst safeguarding our values and bequeath an export oriented footing to the economy to secure our place in the export market.

‘‘I humbly request the corporate sector to grab this opportunity with the right spirit as you are the engine of our economy.’’