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Finance Ministry to hold islandwide exhibitions to attract investors and promote exports
View(s):The Finance Ministry, in order to increase Investor opportunities and promote exports has drawn up plans to conduct an exhibition every 3 to 4 months at selected locations islandwide.
Finance Minister Mangala Samaraweera and State Finance Minister Eran Wickremaratne on Wednesday briefed investors on the proposed programme which coincides with the 2025 Vision programme launched by the Government.
The inaugural exhibition will be held in Moneragala in August followed by an exhibition in December in Anuradhapura, and thereafter one in Jaffna.
Minister Samaraweera said the Enterprise Sri Lanka scheme was proposed in the Budget, based on Vision 2025, to create a new class of entrepreneurs.
He said that the domestic sector dominated the economy and Foreign Direct Investments (FDI) were stagnant, External Assets were dropping and Debt Servicing exceeded Borrowings in the past.
“A series of reforms were commenced by the Government to restore stability,” he said.
“As a result, much of the reserve growth are earned reserves as opposed to borrowed reserves, inflation has dropped and stability has been achieved in external markets and labour markets,” he said.
“Exports and FDI reached record levels. Export growth benefited from the GSP plus concessions and Government strategy. It is clear the export and FDI model is already showing results,” he said.
He said that, on June 22, enterprise loan schemes will be launched by the President and Prime Minister.
He said it was necessary for the state to directly invest in the rural sector, particularly, carry out rehabilitation of rural tanks, which will have an impact on the agriculture sector.
He said that, under a “Green Park” concept, they hope to have a gym and a rooftop garden for meditation and yoga, whilst investing in rural road development projects
“A change of mindset will enable to connect villages to global markets,” he said.
State Minister Wickremaratne said the total number of persons involved in enterprises is about 230,000 or, 2.8% of the population, which is comparatively low to other countries.
Mr. Wickremaratne said they were looking to the business sector to participate in the exhibitions, which is expected to draw 200,000 and 300,000 respectively, in Moneragala and Anuradhapura.
He said there will be different zones such as banking & financial services, learning, environmental, local innovation, media etc,
He said the private sector participation will help create more enterprises, and the objective was to connect small & medium enterprises to the local supply chain.