SME sector vital for country – Alwis

03 Apr '10

1 min read

The number of Small and Medium Entrepreneurs (SMEs) in the Northern and Eastern regions of the country, which prior to war was 753, has reduced drastically. However, with new entrepreneurs joining the industry the same is expected to rise again.

NCCSL, Chairman, Lal de Alwis, remarked that, it is expected of a country's SME sector to significantly contribute to the nation's Gross Domestic Production (GDP), but Sri Lanka has yet not succeeded in attaining this.

Thus, as a resort to the above need, the National Chamber of Commerce has disbursed funds amongst the SMEs, so as to provide them with financial backing and to assist them in acquiring necessary equipments.

NCCSL has assisted 43 SMEs to obtain grant worth Rs 3 million from the Netherlands Government. As also with a view to boost up value addition, it has initialized the process, whereby it is trying to link up the SMEs with 530 major companies in the country.

Lal de Alwis said that, they will be examining the possibilities of such tie ups as a part of their efforts to introduce new management systems, meant for promoting their products of global standards.

Fibre2fashion News Desk - India