Press briefing of Cabinet Decision taken on 2024-02-05 (Subject to Confirmation at the next Meeting)

Strategy to promote Inclusive and Sustainable Businesses to achieve the Sustainable Development Goals in Sri Lanka

- Purpose-driven enterprises that use commercially viable models to generate positive social and environmental impact ranging from green businesses and social enterprises to models empowering vulnerable communities are called Inclusive and Sustainable Businesses (ISBs). The inadequate access to information, skills training, partnerships, financial facilities and formal recognition for the existing Inclusive and Sustainable Businesses in Sri Lanka has constrained the growth and the positive impact of those businesses. As such, in supporting and facilitating the development of Inclusive and Sustainable Businesses, the need for specific strategies has arisen to integrate the provisions related to the promotion of Inclusive and Sustainable Businesses with the government policies related to national business, industry, finance and investment. Accordingly, the Sri Lanka Sustainable Development Council, with the support of the Trade, Investment and Innovation Division of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) has obtained the views of all relevant parties and formulated “Strategy to promote Inclusive and Sustainable Businesses to achieve the Sustainable Development Goals in Sri Lanka". The proposal made by the Hon. President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to implement the said strategy, was approved by the Cabinet.