University for skills development of entrepreneurs

by Ananda KANNANGARA

Industry and Commerce Minister Rishad Bathiudeen highlighted the major role played by Small and Medium Enterprises (SMEs) in the country's economic growth and said the Government would establish a university to improve skills development of entrepreneurs.

He was speaking at the Industrial Excellence Awards- 2010 of the Sri Lanka Chamber of Small and Medium Industries.

He said entrepreneurs are the life organ of any economy as they play a significant role to accelerate the economic growth and also provide employment to a large section of youth.

"My Ministry has embarked on a number of projects in collaboration with the Moratuwa University to introduce new technology and designs for local industrialists,".

Sri Lanka Chamber of Small and Medium Industries, President, Aloy Jayawardene urged the Government to implement programs to encourage Small and Medium enterprises since they are vital in the country's economy which represent 70 percent of the Gross Domestic Product (GDP).

He said he was happy to note that the Central Bank Governor recently gave an assurance that the forthcoming Budget would grant many benefits to the Small and Medium sector.

Over 30 local entrepreneurs received awards at the ceremony for the commitment they extended to develop local industries. General, Patritia Yoon Moi Chia and Ambassador of Cuba in Sri Lanka Nirsia Castro Guevara were also present.