Local enterprises should rely on innovation and efficiency - Malwatte | Daily News


 

Local enterprises should rely on innovation and efficiency - Malwatte

Deputy Minister of Development Strategies and International Trade Nalin Bandara, Industrial Development Board (IDB) Chairman Navin Adikarama and other officials at the Footwear and Leather Fair 2019, held at BMICH.
Deputy Minister of Development Strategies and International Trade Nalin Bandara, Industrial Development Board (IDB) Chairman Navin Adikarama and other officials at the Footwear and Leather Fair 2019, held at BMICH.

Local enterprises should rely on innovation and efficiency, not on government subsidies or import duty concessions all the time to thrive in a more competitive global marketplace, Chairperson of Sri Lanka Export Development Board, Indira Malwatte said.

Malwatte noted that entrepreneurs should make it a priority not to depend on import duty concessions being given to them; instead they need to make efforts to continue their business activities outside the GSP plus concession.

“We shouldn’t always depend on government, expecting them to do things for us all the time. We must be independent irrespective of governments and industries must move on. It is the duty of the government to facilitate local industrialists; however it doesn’t mean that we should depend on government for concessions every time,” Indira Malwatta told at the ceremonial opening of the 11th edition of Footwear and Leather Fair 2019, held at BMICH last week.

The event was organized for the 11th consequent year by the Sri Lanka Footwear and Leather Products Manufacturers Association (SLFLPMA), in collaboration with the Centre for Development Leather Products and Footwear of the Industrial Development Board (IDB), a key partner of the Fair Along with Export Development Board (EDB), DSI and several other organizations involved in the industry.

The apparel sector achieved its target of US $ 5 billion in 2018. In most countries, with the apparel sector, the footwear and accessory sectors have also grown, she said adding that, “but for some reasons, although the apparel sector has grown and achieved its targets in Sri Lanka, but we don’t see the similar growth scenario in the footwear and the travel goods sector.”

Noting that Sri Lanka has a tremendous advantage when it comes to manufacturing travel goods, Malwatte said plans are underway to elevate the position of apparel sector in Sri Lanka and to attract more young people to get engaged in the sector.

She also pointed out that, country doesn’t make use of special concessions granted for travel goods under the United States’ Generalized System of Preferences (GSP) program.

“We all talk of GSP program; before long we will go to the threshold of U S $ 4000 per capita income level. And country will lose its GSP concessions in another three to four years time.” she said. Meanwhile, welcoming the guests at the ceremonial opening of the International Footwear Leather Fair 2019, Industrial Development Board (IDB) Chairman Navin Adikarama said that the event was of great significance and a big achievement to conduct footwear and leather fair for the eleventh consecutive year. Chairman Adikarama further said that around 470 industrialists participated in the event, representing about 20,000 families.

He said the industry has been able to create employment opportunities to around 300,000 families covering many parts of the country with a GDP contribution of Rs 400 million and the IDB has the potential to be part of the Rs 200 billion dollar industry by 2020 and IDB was in its way to achieve that target.

Deputy Minister of Development Strategies and International Trade Nalin Bandara speaking at the event reiterated the government’s commitment to develop the sector thereby provide necessary assistance to develop the technical know-how of local footwear manufactures and to help them create much needed business links with their global counterparts.

“I believe, this industry has immense potential to become one of leading foreign exchange earning sectors in Sri Lanka. To this end, the government assistance is essential to realize the full potential of the industry,” Minister Bandara said.

Minister further said the work on the first phase of Export Processing Zone in Bingiriya, Kurunegala will commence on February 28, 2019 under the patronage of Prime Minister Ranil Wickremesinghe as part of government’s ambitious plan of setting up export processing zones across the country.


Visit Kapruka.com Sri Lanka's Largest online shop. Over 125,000 unique categories such as Fresh Flowers, Cakes, Food, Jewllery, Childrens Toys and other Sri Lankan e-commerce categories. Low delivery cost to most cities here and free delivery in Colombo.

 

Add new comment