Govt. to expedite national policy for SMEs; draft available online

Tuesday, 10 October 2017 00:00 -     - {{hitsCtrl.values.hits}}


The Government has expressed its commitment to expedite the national policy for Small and Medium Enterprises (SMEs) given their catalyst role in socioeconomic development. 

The SME framework policy document is now available for download at (under ‘Resources’, ‘Policies’).

“No sooner the first ever national SME policy of the country is finalised we will implement it without delay,” Industry and Commerce Minister Rishad Bathiudeen said yesterday during a progress review meeting attended by top officials from the ministry including Ministry Secretary K.D.N. Ranjith Ashoka.

“It is time we publicise the policy more and start implementing it,” added the Minister. 

The national SME policy was unveiled at the launch of the first ever SME incubator of Sri Lanka in Makandura last month with Prime Minister Ranil Wickremesinghe attending as the Chief Guest and Minister Bathiudeen  serving as the Guest of Honour.

“SME development is a key focus of my ministry. The Prime Minister’s recent policy statement to Parliament also focused on entrepreneurship development,” said Minister Bathiudeen

”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.”

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

In his recent policy statement to Parliament, Prime Minister Wickremesinghe stressed the importance of SMEs. “Local entrepreneurs must now enter the global markets. We will help them enhance their productivity levels and develop competitiveness,” the Premier added.