INCOM National Industry and Commerce expo launched

Thursday, 14 July 2016 00:00 - - {{hitsCtrl.values.hits}}

Sri Lanka’s first-ever national exhibition combining the country’s industry and commerce sectors was launched on 12 July in Colombo. The pioneering expo is scheduled to alternate among the provinces and shall give the much-needed platform for regional industries to link with national and international buyers.

Minister of Industry and Commerce Rishad Bathiudeen addressed the launch press event of the exhibition called INCOM at Hilton Colombo Residences, joined by State Minister Champika Premadasa and Ministry of Industry and Commerce Secretary T.M.K.B. Thennakoon. The lead agency under Industry and Commerce moving INCOM forward is the Industrial Development Board (IDB).

“Industries have played a major role in Sri Lanka’s post-independence development and are playing an important role even today. As you may know Sri Lanka’s leading export merchandise is apparel which is an industrial output,” said Bathiudeen.

He added: “In fact almost 70% of our exports are industry and manufacturing products. Industries also contribute to one third of our GDP. Also more than one fourth of our labour force is engaged in manufacturing and industries. The development reform vision of the Unity Government which aims to give one million jobs also envisions major industrial reforms in the coming years. Many dedicated industrial zones and large scale industry parks are planned with the objective of FDI and employment. Therefore it is time that the impact of our industry sector is showcased well to highlight its way forward.”

The Ministry has decided to showcase its industrial capacities through a series of exhibitions called INCOM focused on industry and commerce and launched at this event. These exhibitions will be held regionally.

“I am pleased to announce that the first expo will be held in Eastern Province at Sammanthurai Technical College from 26 to 30 August. This series of exhibitions will involve all small medium and rural industries in agriculture, fishery industry, handlooms, light engineering and handicrafts in all the provinces to empower them. It paves the way for identifications of Industrial potentials in the provinces while improving their existing capacities as well as identification of new technologies and sophisticated machinery equipment and deploying them to their trade giving new dimensions to their traditional practices in productivity reducing the cost of production. More importantly they will receive competitive networking and research and development opportunities to enter the Global Market and to widen their market. I commend the Industrial Development Board (IDB) under our Ministry for their lead role in getting this event off the ground and making it a reality.”

The first exhibitions in this series is scheduled to be held in Eastern Province at Sammanthurai Technical College from 26 to 30 August.

In 2015, 69% of Sri Lanka’s exports were from the industry and manufacturing sectors, totalling to $ 7.8 b.