Low interest rates to boost business

by Ananda KANNANGARA

Science and Technology Minister Prof. Tissa Vitharana on Friday highlighted the reduction of interest rates by the Government and said that it would greatly benefit local entrepreneurs to build up their business ventures and eventually to access even the international market.The Minister made these observations at a ceremony, held at the BMICH to coincide with the 14th annual Sri Lankan Entrepreneur awards presentation, conducted by the Federation of Chamber of Commerce and Industry of Sri Lanka.

Prof. Vitharana gave away the prestigious platinum trophy to Chairman and Managing Director of R.N. Construction, Ruwan Edirisinghe who was selected as the Sri Lankan Entrepreneur of the year-2008.

Special awards were also given to the proprietors of Maliban Biscuits Co. Ltd, D. Samson Industries, Abdul Gafoor Co. and Eswaran Brothers Ltd. for their valuable contribution made towards the field of business in the country. Referring to the Government launched `Vidatha' program, Prof. Vitharana said that entrepreneurs will in future largely benefit with the development of science and technology, at every nook and corner of the country. "In addition, we have also focused attention towards the development of `Nano' technology which will also benefit local entrepreneurs to begin various industrial projects, since `Nano' is the latest technology, used by developed countries today.The Minister also highlighted the global economic crisis which badly hit the economies in countries such as USA and the UK and said that despite this situation our country achieved a healthy growth rate between five to six per cents last year.

Prof. Vitharana reiterated with the dawn of peace, the Government has taken bold steps to help local entrepreneurs to think of profitable business ventures and the reducing of interest rates is the first step of the new initiative.