Six BOI establishments set up under matchmaking
CCC, Norway program to help Sri Lankan industrialists
Sri Lankan industrialists could benefit under industrial
co-operation, a matchmaking program facilitated by the Ceylon Chamber of
Commerce between Sri Lanka and Norway. Six BOI establishments have been
set up through the matchmaking program, Chief Executive
Officer/Director, Euronor Hemantha Wickramasinghe told Daily News
At a glance
* Euronor set up with $700,000 investment
* Employment opportunities for 40 people
* Matchmaking program funded by NORAD
Euronor, a 100 percent Norwegian company was set up with an
investment of US $ 700,000 in September 2008 to manufacture kindergarten
furniture, wooden toys and sports equipment.
The company has exported goods to the value of US $ 200,000 and plans
to penetrate the global market, he said.
Euronor has a potential market for its products with the green
concept that is popular in European countries. We need to capitalize on
this and increase production and the market share, he said.
“We appreciate the services rendered by the Ceylon Chamber of
Commerce (CCC) to set up joint ventures with Norway.
The Norwegian Government considers matchmaking as a role model to
boost investment. It is important to build investor confidence to
attract more investments to the country”, he said.
Euronor has provided employment to 40 people - 70 percent females and
30 percent males. It also engages in Corporate Social Responsibility
projects to assist temples and kindergartens. Around 20-30 clients from
Norway visit Sri Lanka annually to identify the target sectors and set
up joint ventures.
The matchmaking program conducted by the CCC for industrial
co-operation and trading has recorded 88 success stories under technical
and trading collaborations.
CCC is the national contact point for the program. It is funded by
the Norwegian Agency for Development Co-operation (NORAD) and functions
under the Ministry of Industrial Development with an Advisory Committee
of representatives from the Board of Investment, Sri Lanka Export
Development Board, CCC and Sri Lanka Nordic Business Council, said
Project Manager CCC Anuradha Perera.
The objective of the program is to transfer Norwegian competence to
Sri Lanka through a matchmaking process.
The program envisages joint ventures/partnerships with third country
partners, provided the production is based in Sri Lanka and could take
the form of licence agreements, joint ventures, industrial
co-operations, technical co-operation arrangements and in special
circumstances, trading arrangements for companies having a manufacturing
The program is open to all registered business enterprises in Sri
Lanka, he said.