Press briefing of Cabinet Decision taken on 2019-08-20

The National Policy on Industrial Development

- It has been identified that the existing inconsistencies in the related policies, inadequacy of the required technology and the infrastructure facilities, the dearth of skilled human resources, excessive energy cost, environmental challenges associated with industries and the shortcomings existing in the legal system have adversely affected the development and the sustainability of the industrial sector. Hence, it has become a national need of the hour to formulate a successful industrial strategy which could contribute to the development of the country minimizing the said problems. Accordingly, the proposal made by the Minister of Industry & Commerce, Resettlement of Protracted Displaced Persons, Co operative Development and Vocational Training & Skills Development to formulate the National Policy on Industrial Development, was approved by the Cabinet.