Basil assures full backing for SMEs

Economic Development Minister Basil Rajapaksa has assured the Government’s fullest support for small and medium scale entrepreneurs and self-employed persons to start and maintain their businesses since they are a cornerstone of the country’s economy.

The Minister Rajapaksa gave this assurance when he participated as the chief guest in the ceremony held to launch the National Enterprise Development Authority website (www.sme.lk) and its directory and the introduction of Omega-enriched eggs to the market, at the Galadari Hotel on Friday October 4.

He noted that although special laws have been introduced in Europe and America to protect their local industries, Sri Lanka had failed to do so and consequently such enterprises here have collapsed as a result of some agreements this country had signed in the past.  

This is the first time Omega 3 DHA eggs has been produced in Sri Lanka. These eggs containing - three fatty acids, linolenic, Eicosapenaenoic Acid(EPA) and Decpsahexaenoic Acid(DHA) control blood pressure, help growth of children’s brains and in general improve heart health. These eggs - manufactured by Arogya Farm in Welekanda, Polonnaruwa under the guidance of the Industrial Technology Institute - are priced at around Rs.23 per egg. Daily about 30,000 of them are marketed. Sri Lanka’s poultry farmers, supply 80 percent of the country’s annual egg consumption which is around 1.2 billion to 1.3 billion eggs.

Minister Basil Rajapaksa said that the President has launched several programmes to assist small and medium scale entrepreneurs since the current regulatory and legal framework pertaining to such industries greatly discourage potential entrepreneurs. At present they are required to fill countless forms when applying to start a business.

It is to deal with this problem that the directory giving the addresses and contact numbers of organizations serving the needs of entrepreneurs has been launched. The website will help them to promote their industries and provide information on them.

Commerce and Industry Minister Rishad Bathiudeen, Eastern Provincial Councilor Ameer Ali and National Enterprise Development Authority(NEDA) Chairman N.M. Saheed were among those attended the event.