President Ranil Wickremesinghe officially opened the Ratnapura International Gem Trade Centre, also known as the Ratnapura Gem Tower, on Thursday (Apr 04)

. The inauguration ceremony included the unveiling of the plaque by the President, who also inspected the facilities. The five-story building, completed in the first phase at a cost of Rs. 365 million, is part of a larger project expected to include an additional 14 floors with an estimated expenditure of Rs. 450 million.
The gem center aims to facilitate seamless transactions between local and foreign entrepreneurs, providing comprehensive services such as quality testing, laboratory facilities, and banking services.

President Wickremesinghe emphasized the government's commitment to enhancing the gem and jewelry industry's contribution to the national economy and instructed officials to address industry challenges and propose reliefs for stakeholders.
He highlighted the sector's resilience amid the COVID-19 pandemic and its pivotal role in economic recovery efforts. The President outlined ambitious targets for reducing government debt and emphasized the importance of safeguarding economic gains.