President credits Govt.’s favourable environment for allowing public participation in politics

• Opens International Gem and Jewellery Trade Centre, known as the Ratnapura Gem Tower

President Ranil Wickremesinghe yesterday emphasised that the government’s  prudent decisions over the past two years have bolstered the nation’s  economy, providing a favourable environment for political activities  on the streets. 

However, he cautioned that the economy still faces  challenges, urging citizens to weigh the choice of either continuing  with the Government’s initiatives for prosperity or risking regression.

Highlighting a remarkable increase of over 50% in government income in  2023 compared to 2022, President Wickremesinghe underscored the  conducive backdrop for advancing confidently with a robust economy. 

These remarks were made during his attendance at the inauguration of  the International Gem and Jewellery Trade Centre, known as the Ratnapura Gem Tower.

He said plans have been shown for the construction of the Ratnapura Gem Tower  in Demuwawa area of Ratnapura, to be executed in two phases. The  initial phase saw the completion of a five-story building, costing Rs.  365 million. The forthcoming second phase entails the construction of  an additional 14 floors, with an estimated expenditure of Rs. 450  million.

The newly inaugurated International Gem Trade Centre comprises 27  business premises, with 17 allocated to local entrepreneurs and 10  designated for foreign counterparts. Financing for this venture is  sourced from the National Gems and Jewellery Authority, aiming to  establish an international hub facilitating seamless transactions  between sellers and buyers.

Functioning akin to renowned sales centres in Bangkok and Hong Kong,  the centre will offer comprehensive services including independent  quality testing, laboratory facilities, and banking and export  services. This initiative aims to bolster the gem and jewellery trade,  positioning Ratnapura as a pivotal player in the global market.

During his visit to the International Gems and Jewellery Trade Centre,  President Ranil Wickremesinghe not only unveiled the plaque to mark  its inauguration but also conducted an inspection tour of the  facilities. As part of the occasion, a souvenir gift was presented to  the President, and he left a commemorative note in the special guest  book.

Addressing the gathering, the President emphasized the Government’s  commitment to further enhancing the gem and jewellery industry’s  contribution to the national economy. He instructed officials to  compile a report by the end of April outlining potential solutions to  industry challenges and proposed reliefs for industry stakeholders.  Notably, the President stressed the importance of ensuring benefits for gem miners as part of this initiative.

President Wickremesinghe highlighted the significance of the  International Gem Trading Centre in elevating Sri Lanka’s gems to  attain their rightful value on the international stage. This  initiative aims to position Sri Lanka as a prominent player in the  global gem and jewellery market, fostering economic growth and  prosperity for the nation.