June 22, Colombo: Sri Lanka Prime Minister Ranil Wickremesinghe today pledging to strengthen local businesses said the government has decided to provide tax concessions to local industrialists and to exempt the VAT levied on the machinery imported by the local businesses.
He said the aim was to facilitate the local industries to enter the world market while strengthening them.
The Prime Minister was addressing the opening of the latest state-of-the-art biscuit factory of Uswatte Confectionery Works, Sri Lanka's oldest candy manufacturer, in Milleniya in Bandaragama on Friday.
Prime Minister Wickremesinghe strongly rejected the allegations made by certain parties that this government is destroying the local industries and recalled that the government has taken a large number of measures for the development of the local industries and protecting them.
The Prime Minister said that it is difficult to live in the village only through agriculture. What the Government was attempting to do was to provide more jobs from the industrial, tourism, supplies and services sectors. The local industrialists should be developed to protect our local industries. He said that they have to conquer the world market. As such they are helping to strengthen the industrialists.
"By supporting our local businesses, large and small, we are taking jobs and opportunities to all parts of Sri Lanka," the Premier said.
The Premier spoke to the employees and reviewed the state-of-the-art facilities which will focus exclusively on the manufacturing of high-quality biscuits introducing the candy manufacturer's entry into the island's biscuit market.
State Finance Minister Eran Wickramaratne, State Power and Renewable Energy Minister Ajith P. Perera and Uswatte Confectionery Works Chairman/Managing Director Quintus Perera were among the participants in the event.