NCCSL presents Rs. 12.5m to 60 SMEs

Lumbini Edirisinghe

The National Chamber of Commerce of Sri Lanka (NCCSL) presented Rs. 12.5 million to sixty Small and Medium Enterprises at the Hotel Galadari yesterday.

Secretary General, NCCSL, Lal De Alwis presenting a certificate to a recipient. Picture by Sumanachandra Ariyawansa

This was initiated by NCCSL in collaboration with the Royal Netherlands Government, which also launched a Business Development fund targeting the SME sector islandwide. The total commitment from the Netherlands to develop the SME sector for three years is Rs. 200 million. The funds were utilized successfully. (99.9%)

"The Netherlands Government would also provide the equipment for SME entrepreneurs in rural areas of the country. This amount was presented by the Netherlands Government to be distributed among 618 entrepreneurs islandwide," said Senior Vice President Asoka Hettigoda.

The Royal Netherlands Government was keen to improve the small and medium enterprises engaged in rattan, clay, ornamental fish, handicraft and cut flowers industries.

"Earlier the funds and technology were only presented to the enterprises in the Western Province. However, we now are facilitating these funds for rural areas," he said.

Small and medium enterprises are the key to boost the country's gross domestic production.

If one considers the global crisis carefully small and medium enterprises have not been affected to a great extent. The SME sector in Japan has made a huge contribution to the Japanese economy, which were over 99 percent. The highest contribution to Japan's economy has not come from large companies like Toyota or Mitsubishi. "These large companies have only contributed around 7% to the GDP," said Secretary General the NCCSL, Lal De Alwis.

"National Chamber of commerce hopes to provide new technology of the developed countries to those who initiate the Small and Medium enterprises in their regions. Most developing countries are willing to share their technology as well as their expireance," he said.

The Fund Disbursement Ceremony of financial assistance to sixty Small and Medium Enterprises recipients was held yesterday.

"Every month we would monitor the success of the enterprises and check the quality of the enterprises, "he added.