Boost for SMI sector industries
The Government aims at upgrading 5000 small industries to medium
level and 200 medium level industries to large scale industries on an
annual basis. Traditional Industries and Small Enterprise Development
Ministry Secretary V Sivagnanasothy said the SME sector is a prime force
of value creation in the economic development of the country and the
sector will be stimulated by improving marketing opportunities through
promoting backward and forward linkages with large scale and foreign
He was speaking at the launch of the national program to mobilize SME
scale entrepreneurs at the Foundation Institute yesterday.
Development of subcontracting arrangements will form these linkages
and will facilitate SMEs to expand their operations.
He said the objective of setting up this umbrella organization is to
encourage, strengthen and empower them to achieve the development goals.
The Sri Lanka Federation of Industrial Association will facilitate
SMEs to find solutions to their problems, in diversifying industries and
manufacturing quality products through application of appropriate
technology. Industrial Development Board Chairman (IDB) Udaya Sri
Kariyawasam said 144 associations have been set up already under
divisional secretaries and 21 district level associations also will be
set up representing the regional level associations and other allied
organizations in the industrial sector.
These associations at regional, district, and national levels will be
monitored by a steering committee comprising a senior IDB officer, two
officials representing public and private sector banks and a specialist
in the industrial sector along with a representative of the Chamber of
Industries and Commerce.
Kariyawasam said funds will be accured through membership fees,
financial allocations, implementation of development projects, obtaining
allocations for purchase equipment raw materials from government and non
governmental organizations in keeping with the objectives of the
federation, obtaining loans will be put in place for the benefit of the