Minister Sunil Handunneththi holds discussions with IMF representatives

A special meeting was held today (06) between Minister of Industry and Entrepreneurship Development, Sunil Handunneththi, and representatives of the International Monetary Fund (IMF).

The discussion focused on the contributions of the country’s industrial sector to economic stability and the overall wealth it generates, according to the Ministry of Industry and Entrepreneurship Development.

During the meeting, Minister Handunneththi briefed the visiting IMF delegation on the challenges faced by small and medium-sized enterprises (SMEs) and the policy measures the government has implemented to support them.

The importance of industrial growth within Sri Lanka’s ongoing economic reform agenda was acknowledged by the IMF representatives, according to the Ministry.

Discussions also highlighted efforts to remove barriers on the path to a production-based economy, streamline export processes, and create a favorable environment for foreign investment.

In alignment with the IMF’s program, both sides explored potential incentives and financial facilities that could be extended to local industrialists, the statement from the Ministry of Industry and Entrepreneurship Development added.