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SMEs will drive economic growth:
Budget to focus on local industries
This year’s budget proposals will incorporate
some of the recommendations put forward by the National Chamber of
Commerce (NCCSL) to alleviate the difficulties of the SME sector.
The SMEs which comprises 80 percent of the country’s producers have
long being neglected, a top NCCSL official said.
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Corporates anticipate business-friendly Budget
With the countdown for the 2013 Budget to end
soon the corporate community anticipates a Budget which would create
a more business-friendly environment in the country. KIK Group,
Chairman Lalith Kahatapitiya said that the Budget should support
exporters to enhance income for the country which is essential to
reduce the trade deficit and increase foreign reserves.
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SWITCH Asia helps improve green index
Sri Lanka has joined the world on green
initiatives to preserve the environment. The country’s green index
is improving due to numerous measures taken to support the efforts.
The impact of the SWITCH (Sustainable World Introducing
Technological Change) Asia program is encouraging and the policy
interventions have supported the successful implementation,
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Cinnamon exports to hit $1 b
Cinnamon is unique to Sri Lanka and holds the
monopoly for cinnamon in the export market. It is well known that
cinnamon cultivation is the only monopoly that Sri Lanka holds. Sri
Lanka produces and exports over 90 percent of the world’s true
cinnamon, Spice Council (TSC) Chairman, Sarada de Silva said.“Ceylon
Cinnamon has the potential to increase value-added exports to hit $1
b by 2020,”
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Tax Week – a move to create friendly tax culture
Tax experts and analysts hailed the Tax Week as
a sound move to create a friendly and fearless tax culture and
enhance revenue for development. The Inland Revenue Department
launched the Tax Week from November 1-8 to build awareness and
encourage more people to pay taxes.
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‘Sri Lanka Pharma Week’ in December
Three conferences will be held at the Sri Lanka
Pharma Week, from December 3-7 which will address the industry’s
evolving issues of Bio-availability and Bio-equivalence
Requirements, Pharma Medical Detailing Force Effectiveness and
Automation, and Supply Chain and Distribution.
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'Trade facilitation should be addressed realistically'
“It is important for countries in the Asia
Pacific region to address trade facilitation issues in a realistic
and practical manner,” said Senior Minister, International Monetary
Co-operation, Dr. Sarath Amunugama at the inauguration of the Asia
Pacific Trade Facilitation Forum (APTFF) last week.
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