New Industrial Estate policy to develop SMEs

The Traditional Industries and Small Enterprise Development Minister Douglas Devananda said that all Industrial Estates that come under the mandate of the Industrial Development Board must come under a new Industrial Estate development policy focusing on the development of SME's when he met the senior officials of the Industrial Development Board at the Ekala Industrial Estate.

The Minister said that the future of Sri Lanka's growth is on SME development and almost seventy percent of GDP contribution of the country comes from the SMEs in the country. Hence the new vision of the Ministry must be aligned to the Mahinda Chintana Idiri Dekma that requires a change in the new policy that will come in to effect in the country in the near future.

Selecting high potential small enterprises and helping them access markets in the home country and key export markets must be included in the new policy of the Industrial Parks, said the Minister.

Ideally once the enterprise achieves a critical mass the company must compete in the commercial environment while a chance is given for another SME to access to preferential rent, rates and common security and amenities that the Government offers to the industrial sector were the views strongly recommended to the senior officials of the Ministry. The senior officials of the Ministry present were Secretary Sivaghanasoorthy, Chairman IDB Udayasri Kariyawasam, Board Member Rohantha Athukorala and the Ministry Advisor Jeagarasasingam.

The Minister will appoint a high level task force within a week, said the Ministry.