25 entrepreneurs in the export sector were given incentive and stimulus packages in recognition of their successful achievement of export targets in the face of the world economic and financial crisis.

The incentives in cash and Treasury Bonds amounting to Rs.5501.3 million were given to them by President Mahinda Rajapaksa at Temple Trees today (Sep.28).

The recipients of these S & I packages were chosen on the basis of bringing in 90% of the value of their foreign exchange earnings in the previous year (2008), their consistent high productivity and maintaining of the same number of employees in their establishments, without any retrenchment.

The Minister of Export Development & International Trade Prof. G. L. Peiris speaking this occasion said recipients should recognize these stimulus packages as the government's support for them to remain competitive in a difficult business climate. They should consider that Sri Lanka was a land of promise and opportunity with many Western investors, from non-traditional sources seeking opportunities for investment here. In improving business activity the highest priority should be given to expanding employment opportunities.

The Governor of the Central Bank, Ajith Nivard Cabraal said the speed with which the government reacted to the global financial crisis which began in September 2008 had resulted in the success of our exporters remaining competitive and strengthening their business activities. It was necessary to give priority to maintaining full employment in view of the many advantages the exports sector had gained through the government's economic policies.

He mentioned the stable exchange rates that prevail during this crisis period, unlike in the aftermath of the Tsunami; the steady decline in interest rates and the decline of inflation below 1% as major advantages to the private sector in general, and exporters in particular. All of these should be looked at as larger incentives to the private sector extended by the government.