December 02, 2023
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    Exploring Optimal Utilization of Mineral Resources to Bolster the Nation’s Economic Growth

    September 23, 2023


    • New Act to protect the environment and ocean – State Minister Arundika Fernando.

    Mr. Arundika Fernando, the State Minister of Urban Development and Housing, emphasized the nation’s commitment to bolstering its economy through the judicious utilization of mineral resources. He underscored the potential for creating high-value -added products from these resources and stressed the importance of carrying out these activities with a steadfast commitment to safeguarding the country’s land. State Minister Arundika Fernando made these remarks during his participation in a press conference held  September (22) at the Presidential Media Centre, under the theme ‘Collective Path towards a Stable Country.’

    Expressing his views further Arundika Fernando further said;

    We stake our claim to an island graced by one of the world’s most exquisite beaches. Our nation also boasts a wealth of valuable mineral resources. Furthermore, from a geographical standpoint, we occupy a strategically vital position in Asia.

    Despite the allure of our beautiful coastline, it is not immune to periodic sea erosion. Consequently, proactive measures, funded by the government, are implemented to mitigate this issue. To address this concern comprehensively, the Department of Coastal Conservation has been significantly broadened in scope. Additionally, this department plays a pivotal role in bolstering the tourism sector.

    Challenges have arisen involving certain hotels, investors and the Department of Coastal Conservation. As a responsible government, we have committed to a flexible approach to resolve these issues. Our efforts are directed at facilitating construction projects within the tourism industry for interested investors.
    Our overarching goal is to develop and create opportunities along our coastlines while safeguarding the unique cultural heritage of these coastal regions. This approach not only preserves our heritage but also generates revenue for the government.

    Sri Lanka has earned recognition for possessing some of the world’s most stunning beaches. In the realm of long-term investments, we have taken the decision to extend investment prospects along our coastline, collaborating closely with agencies such as the Investment Promotion Board and the Ministry of Lands. A dedicated program has been meticulously crafted to invigorate and advance the tourism sector.

    Furthermore, given our nation’s rich mineral resources, we have devised plans to expand investment opportunities while remaining committed to land conservation.

    Additionally, the Department of Coastal Conservation actively participates in initiatives aimed at enhancing the value of our mineral resources. These resources have the potential to yield significant value through the production of value-added goods.

    Furthermore, we are committed to introducing a new environmental and ocean protection bill in our country. This legislation will play a vital role in safeguarding our natural resources.

    Our primary focus must centre on pioneering innovative programs that contribute to our country’s economic recovery. Timely and effective resource management is crucial for initiating income-generating initiatives.

    Moreover, we aspire to establish a specialized bank dedicated to the advancement of our domestic industries. Recognizing that some financial institutions have constrained their support for the construction industry, we are actively addressing the challenges that have emerged within this sector.

    Last modified on Friday, 22 September 2023 20:48

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