Sri Lanka speeds up SME support work

• ‘SME national policy already unveiled, now time for work’ –Rishad
• Calls officials for an implementation schedule

Industry and Commerce Minister Rishad Bathiudeen (centre) and Industry and Commerce Ministry Secretary K.D.N. Ranjith Ashoka (third from right) at yesterday’s progress review meeting

No sooner the first-ever national small and medium enterprise (SME) policy of the country has been unveiled, Sri Lanka is moving to implement it without delay, the country’s Industry and Commerce Ministry said.

“It is time we publicise the policy more and start implementing it,” stressed Industry and Commerce Minister Rishad Bathiudeen, who was addressing a progress review meeting joined by his top officials and the ministry Secretary K.D.N. Ranjith Ashoka. 

At the launch of the first-ever SME incubator of Sri Lanka in Makandura last month by his ministry, Bathiudeen joining Prime Minister Ranil Wickremesinghe, unveiled the first national SME policy finalised by his ministry.

“SME development is a key focus of my ministry. The prime minister’s recent policy statement to parliament too focused on entrepreneurship development,” said Bathiudeen.

He added, “We have recently launched the SME national policy with the prime minister. The policy is wide ranging; it identifies high-potential SME clusters, enabling environments, modern appropriate technologies, entrepreneurial culture and skills development, access to finance, market facilitation, research and development and SME resource efficiencies.

 It is time we publicise the policy more and start implementing it.”

Bathiudeen thereafter directed his top officials to work on a schedule for speedy implementation of the policy and assist the more than one million registered SMEs and another large number of unregistered SMEs across the country that are expected to reap benefits from it.

In his recent policy statement to parliament, the prime minister stressed the importance of SMEs. 

“Local entrepreneurs must now enter the global markets. We will help them enhance their productivity levels and develop competitiveness,” said Wickremesinghe.

The SME framework policy document is now available for download at neda.gov.lk.