President Anura Kumara Dissanayake has called for urgent measures to attract greater foreign and domestic investment into Sri Lanka’s mineral sector, while removing institutional and regulatory barriers that have hindered investors from entering the industry.

The President made the remarks during a discussion held this afternoon (31) at the Presidential Secretariat on developing Sri Lanka’s mineral industry in line with the export-oriented National Mineral Policy 2026.

Officials from the Sri Lanka Mineral Sands Association (SLMSA) and the Geological Survey and Mines Bureau participated in the meeting, where investment promotion emerged as a key priority in efforts to transform the mineral sector into a major contributor to export earnings and economic growth, the President’s Media Division said in a statement.

The discussions focused particularly on difficulties faced by investors when dealing with government institutions, including challenges and delays in obtaining licences required for mining activities.

President Dissanayake stressed the need to address these obstacles and establish a more efficient and predictable environment for investors. He also called for stronger coordination among government institutions responsible for regulating and facilitating investment in the mineral sector, the PMD stated.

The President further emphasised that maximum transparency must be maintained in attracting investments, highlighting the need for clear procedures and effective institutional coordination as Sri Lanka seeks to encourage both local and international investors.

The meeting also examined shortcomings in the existing policy framework and discussed measures to improve infrastructure and provide appropriate incentives to investors.

Under the proposed policy direction, Sri Lanka aims to move beyond the extraction and export of raw minerals by encouraging value addition, processing and mineral-based manufacturing. Greater investment in research and development was identified as essential to building domestic industries capable of producing higher-value mineral products for export.

The discussions also covered the systematic exploration and extraction of Sri Lanka’s mineral resources and measures to ensure that the sector contributes more substantially to national economic development, according to the PMD.

Minister of Industry and Entrepreneurship Development Sunil Handunneththi, the Chairman of the Board of Investment of Sri Lanka, Senior Adviser to the President on Economic Affairs Duminda Hulangamuwa, Director General Dr. J.G.L. Sulakshana Jayawardena, Chairman of the Geological Survey and Mines Bureau Saman Jayasinghe, Director General N. Bandara, SLMSA Chairman Mangala P.B. Yapa, Vice Chairman Elian Winston Gunawardena and members of the SLMSA were also present.