Sri Lanka, Dec. 31 -- The Cabinet of Ministers has approved further action to establish the Sri Lanka Industrial Transformation and Innovation Authority, in line with a draft concept framework presented by the Industries and Entrepreneurship Development Minister, Cabinet Spokesman, Health and Mass Media Minister Dr. Nalinda Jayatissa.

Speaking at the weekly cabinet press briefing yesterday (30) he further said that the proposed authority will be formed by merging the Industrial Development Board, the National Entrepreneurship Development Authority and the Small Business Development Division under the Ministry of Industry and Entrepreneurship Development, creating a single, streamlined institutional structure.

He added that the initiativ...