President Anura Kumara Dissanayake has called for measures to attract greater domestic and foreign investment into Sri Lanka's mineral sector while reducing institutional and regulatory barriers faced by investors.
The President chaired a discussion at the Presidential Secretariat on August 31 on developing the country's mineral industry in line with the National Mineral Policy 2026.
Officials from the Geological Survey and Mines Bureau and representatives of the mineral industry participated in the discussion.
Exploration, extraction and value addition
The discussion focused on establishing more systematic approaches to mineral exploration, extraction, value addition, infrastructure development, investment promotion, research and development, and strengthening domestic mineral-based industries.
The Government is seeking to increase the economic contribution of Sri Lanka's mineral resources, including through greater value addition rather than relying only on extraction and export of raw materials.
Investors face delays and regulatory barriers
Particular attention was given to difficulties investors face when dealing with government institutions, including delays and obstacles associated with obtaining licences required for mining activities.
The President called for stronger coordination among relevant institutions and a more efficient and predictable approval process.
He also emphasised the need for transparency when attracting investment into the sector.
National Mineral Policy 2026
The policy direction is being pursued under Sri Lanka's National Mineral Policy 2026.
The policy provides a framework for the exploration, management and development of the country's mineral resources.
The August 31 discussion focused on translating that broader policy direction into investment, regulatory and industry-development measures.
Economic outcomes remain prospective
The measures discussed are intended to increase investment, value addition, domestic industrial activity and export earnings.
However, those are policy objectives and expected outcomes.
They should not be presented as investment already secured, exports already earned or projects already completed.