|
|
|
  |
| Sunday, 20 February 2005 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
Incentives for SME exporters by Hiran H. Senewiratne The government has launched an incentive scheme to the tune of Rs 1 billion to boost value added exports in Small and Medium Enterprises (SMEs) in the country. The objective of the scheme is to reward exporters of value added products and services, encourage greater export oriented investment projects and enhance international competitiveness, Minister of Enterprise Development and Advanced Technology Rohitha Bogollagama said. This scheme to be implemented by the Export Development Board (EDB) has been titled as Dahas Diriya. Minister Bogollagama told the launching ceremony that incentives are available for exporters whose turnover is below Rs 60 million and they should improve the annual export earnings in US Dollar terms within three years. He said that the Dahas Diriya program was a part of the 2005 budget. These enterprises should export products with a local content of 35 per cent. This scheme came into effect from January 1, 2005. He said that Sri Lanka failed in terms of making a proper policy framework for the development of value added products for the export market. "We are now looking at our SME exporters to penetrate into overseas markets in a meaningful manner. For that we need to remodel and re-fashion the SME sector," Minister Bogollagama said. He said that this scheme is ideal for small and medium exporters who specialise in value added products. "Higher exports will help the country across the board. We should also set export targets and measure their performance in the future," he said. Treasury Secretary Dr P.B. Jayasundera said that Dahas Diriya would be a great strength to the government's export drive that focuses on higher value added exports. "We need to make a turnaround by exporting more than what we are importing. Sri Lanka's exports have to grow 13 - 14 per cent annually as against 8 per cent in the past," Dr Jayasundera said. He said Sri Lanka needs to move on to more upmarket and value added products for export and added that this scheme would tremendously help to achieve all our economic goals. EDB Chairman Rohantha Athukorala said that it is hoped to boost export
turnover by Rs 3.5 billion to increase productivity and employment
opportunities to help exporters to face challenges from global economic
conditions and encourage them to bring down export proceeds as claims are
made on receipt of inward remittances by banks. |
|
| News | Business | Features
| Editorial | Security
| Produced by Lake House |
