Financial Times

Protect local industry against foreign domination
By Quintus Perera in Hambantota
A top politician of the opposition has urged the government and authorities to protect local industry against multinational pressures, saying there should be an end to the concept of 'wideshiyakaranaya' (make everything foreign) and provide more and more opportunities to local entrepreneurs.

Mahinda Rajapakse, made these comments while speaking as chief guest at the 10th anniversary celebrations of the Hambantota District Chamber of Commerce (HDCC), recently.

Day-long celebrations were held at Hambantota to commemorate the anniversary event, more than 10 years after seven leading businessmen got together and formed a limited liability company under the Companies Act calling it Hambantota District Chamber of Commerce.

Rajapakse said that several countries including India, China and Japan were protecting their local industries and entrepreneurs by imposing various restrictions on imports. In awarding contracts the first preference in those countries go to local companies.

However in Sri Lanka, he noted, due to equal treatment of foreign imports and local products, there is no protection for industry and entrepreneurs in the country threatening the industry. In large road projects here, Sri Lankan firms just get technical and other human resource tenders.

Large building construction projects too have been awarded to foreign firms. He said that the authorities should consider offering subsidised electricity to local industries and farmers so that their cost of production would come down and be competitive in international markets.

Rajapakse insisted that protection must be provided to entrepreneurs to enable them to produce and market their output not only locally but internationally. They should also be given large building and road construction contracts.

The opposition leader, whose roots are in the south, raised a critical point in saying that during trade talks with other countries, only the elite business community is represented while the mass business and industrial community in the country is ignored.

At the celebrations HDCC identified, honoured and rewarded outstanding entrepreneurs in the district. Shop keepers, retailers, hardware store keepers, textile traders were among these outstanding entrepreneurs. In the past 10 years HDCC has achieved commendable progress compared to other district level chambers that have been established subsequent to the establishment of HDCC.

It is affiliated to the Ceylon Chamber of Commerce, The Federation of Chambers of Commerce and Industry of Sri Lanka, The National Chambers of Commerce and Industry of Sri Lanka and the International Chamber of Commerce.

Among its varied activities, HDCC has collaborated with local agencies to facilitate the business community and youth to acquire knowledge and skills required to be better equipped in order to face the future with hope and confidence.

These agencies are the Coast Conservation Department, Export Development Board, Ministry of Tertiary Education and Training, Plan Sri Lanka and the Open University of Sri Lanka.

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