SMEs and local industries to spur growth

By Sanjeevi Jayasuriya

Sri Lanka is set to unleash its potential for growth in 2013, despite challenges in economic and environmental problems.

Asoka Hettigoda

“We are positive about the prospects for 2013. However, it is important to be mindful of the challenges as most parts of the world are facing difficulties,” National Chamber of Commerce Sri Lanka, President, Asoka Hettigoda told Sunday Observer Business.

“The Budget has facilitated the development of SMEs and local industries and it will be a launching pad for the country to reach the next stage of development,” he said.

Sri Lanka recorded positive growth among regional countries during the year and this has set the stage for stronger growth in 2013.

Growth will be propelled by the SMEs and their contribution is considered to be the key in the country’s forward march, he said.

There are a number of business fora to be held during 2013 including the Commonwealth Business Forum and these will enhance opportunities to attract more foreign investments and the setting up of joint ventures. The country will benefit immensely through these networking opportunities and we could look forward to the new year with renewed hope.

With policy and regulatory framework in place, Sri Lanka could envisage a better year in 2013, Hettigoda said.