“Many of our industries are in need of being modernized and upgraded. Therefore I believe that it is also time that we consider making relevant changes to the Industrial Promotion Act No 46 of 1990 so that the competitive advantage of our industries are sustained, both here and abroad” said Rishad Bathiudeen, Minister of Industry and Commerce addressing the Launch Event of the eighth SME INOEX 2013 Machinery, Technology, Material and Service Exhibition to be held in October in Colombo.
The INOEX is a leading annual event in Sri Lanka’s industry and SME calendar. The event is organized by SMED-SME development arm of Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) to support the SME sector by providing essential exposure to SMEs, which is the backbone of the economy.
In supporting this FCCISL’s annual initiative, Ministry of Industry & Commerce has so far extended more than $ 109000 in financial assistance during the past seven years alone.
The October 11-13 event, scheduled to be held at Sri Lanka Exhibition & Convention Centre, will host exhibitors from India with more than 100 local exhibitor stalls. 40 foreign participants already confirmed of their attendance.
Several Chinese and Malaysian firms too have expressed their willingness to take part, says the Ministry.
“My Ministry is facilitating the FCCISL to implement this project to create an enabling environment for trade and commerce, so that the commercial-hub concept, under the committed vision of the President Mahinda Rajapaksa is realized well” said Minister Bathiudeen addressing the event.