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| Sunday, 24 August 2003 |
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| News Business Features Editorial
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Potential for small, medium businesses great by Pelham Juriansz Minister of Enterprise Development, Industrial Policy and Investment Promotion, Professor G.L. Peiris said the Government is determined to help small and medium-scale enterprises because they are the backbone of industry. Prof Peiris told the 40th anniversary celebrations of the Sri Lanka Chamber of Small Industries that US$ 4.5 billion has been allocated to develop small and medium enterprises, which has brought about a certain amount of buoyancy to the Government. Karu Jayasuriya, Minister of Power and Energy, the chief guest at the celebrations, said that we as a nation should be thankful to the far-sighted and eminent personalities who founded the Chamber 40 years ago. In post-independent India, Prime Minister Nehru had given priority to small and medium-scale enterprises. Aloy R. Jayawardene, President of Council of Management of the Sri Lanka Chamber of Small Industries said Sri Lanka had the potential of overtaking Singapore in the 1950s. "Now Singapore has overtaken us, and Dubai, instead of Sri Lanka, has become the gateway to the Indian subcontinent. We still have the potential to become the Hong Kong of this region, the main gateway to the region, which is going to be one of the fastest growing economies in the 21st century," he said. "The miraculous growth of Singapore in the 80s is directly attributed to the high quality of its institutions and the competence of its civil service. A highly motivated public service will be a key element of our future success". The 40th anniversary celebrations started with the International Industrial Fair 2003 at the BMICH Exhibition Centre in May. Over 15 Indian exhibitors were present among the 100 odd participants. |
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