Japanese assistance for SMEs

Ramani Kangaraarachchi

The Government will hold a series of discussions with the Japanese Government on the SME sector in Sri Lanka.

Speaking at the fifth Key Person Forum on ‘Making Sri Lankan Business Globally Competitive - Role of the Government’ External Affairs Minister Prof G.L. Peiris said the Government expects a strong growth in the economy following these discussions with the Japanese Government.

He said the SME sector is the backbone of the country’s economy and as such the technology, know how, capital, fertilizer and value addition are vital issues. Sri Lanka can get a lot of Japanese assistance.

Prof. Peiris also said the country must see how best the Government and private sector could work together to develop the economy. Constructive networking is vital and there should be a close relationship between the two parties. He said that the public sector must be energized in many ways. However, the priority of the Government at present is resettlement of displaced community in their own homes. “A home grown solution is necessary to this problem,” he said.

FCCISL President Kosala Wickramanayake said Sri Lanka needs to raise its productivity level to maintain global competitiveness. Sri Lanka’s position in competitiveness compared to countries in the Asian Region is not sufficient to compete in the international market.

Easy access to financial facilities, infrastructure development are essential to improve competitiveness, he said.