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| Friday, 5 December 2003 |
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Mega exhibition to showcase industrial boom By Shirajiv Sirimane Sri Lankan industrial sector has come of age in recent times with a significant improvement witnessed in the export sector the Minister of Industries Rohitha Bogollagama said. He said that this factor has accounted for the industry to grow by 77 percent this year. This comprises of 50% of garment exports, 23 percent agriculture and other industrial exports. However the apparel exports which had been at 67 percent last year had dropped by 17 percent. The number of industrial related export items too has now grown up to 1200. "The dream of creating a new industrial culture is now finally a reality," he said. There are 125,000 small and medium sector industries in Sri Lanka. He said that in a bid to highlight this development to the public, the Ministry would be organising an exhibition, Nawa Dekma (new Vision) at the Viharamaha Devi Park Colombo from December 12 to 22 at a cost of Rs. 40 million. He said that government funds would not be utilised for this exhibition as the Ministry has a mechanism to raise this amount through private sponsorship. "We have sold over 600 stalls and many BOI companies too would be participating and selling items at duty free rates." The Minister is expecting a visitor turn out of one million for the exhibition and he says that this is possible since there are nearly one million people visiting Colombo every day. He said that the Yuga Dekma an industrial exhibition and Nawa Dekma were held in Trincomalee Embilipitiya since 2001 and they have helped to develop infrastructure in the area. "After hosting the Yuga Dekma in Trincomalee the image of the city changed and many investors such as Prima came forward to invest Rs. 3000 million and Mitsui cement Rs. 750 million for their projects. In addition many private banks have opened branches while cellular companies too have provided coverage to the area. He said that a sum in the excess of US. 10 million has to be invested to the restore Kankesanthurai Cement factory that is not in operation for over 20 years. "With the present political situation in the country we could not find a investor for this project." The Minister said that he has requested the Prime Minister to take off the 15 percent luxury tax imposed on Micro cars manufactured in Sri Lanka. "This is an absurd tax which will discourage local investors. The government should give every encouragement to this venture by taxing them. The government is driving away future Lankan entrepreneurs who are looking out to invest on similar ventures." He said that though many Ministers have visited the Micro car factory none of them have made a request of this nature. |
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