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| Sunday, 17 July 2005 |
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Business |  |
| News Business Features Editorial
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MoU to develop footwear and light engineering sectors by L. S. A. Wedaarachchi The Iindustrial Development Authority (IDA) signed two Memoranda of Understanding (MoUs) with the Department of Mechanical Engineering of the University of Moratuwa, to develop the footwear and light engineering sectors in Sri Lanka recently. After a careful study and fact finding mission headed by a veteran in the Industrial field and an ex-secretary of the Ministry of Industries, IDA prepared a five-year plan ending 2010 to develop nine selected industrial sectors. The signing of the two MoUs is the first step taken by IDA to implement the five-year plan. According to the Chairman of IDA-Western Province Wasantha Jayasinghe the biggest challenge faced by Sri Lankan industrialists specially SME industrialists is obtaining modern technology and know-how and access to the market . These problems will be overcome with modern technology and know-how with the assistance of the Department of Engineering Studies, Moratuwa University. According to the MoU signed by the Industrial Development Authority and the Department of Mechanical Engineering of the University of Moratuwa, both parties, will commence two projects to develop the footwear and light engineering industry, specially the small and medium scale enterprise sector in Sri Lanka. Under the MoU the Department of Mechanical Engineering of the University of Moratuwa will provide the technology. The Moratuwa University will impart a knowledge to manufacturers and other stakeholders involved in the light engineering industry by providing training in quality management and manufacturing to the relevant sectors of the industry. An important area agreed by the MoU by IDA is to assist in finding foreign and local markets for the light engineering and footwear industry. The IDA has already taken steps to develop identified and other industrial areas. The other indsutrial sectors included in the five-year plan are ceramics, flower, agrobased industries, ornamental fish, electronics and gem and jewellery industries. The IDA feels that the industrial development targets can be achieved by launching a systematic program. Organising cordial relationships between the private and public sector, establishing tripartite limited liability companies and organising small scale production and services centres, will be some of the main features. |
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