- Published on Thursday, 26 July 2012 10:31
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The Ceylon Chamber of Commerce (CCC), International Alert Sri Lanka and Youth Business Sri Lanka (YBSL) recently launched the ‘Investment Tab’. It is a web based portal to encourage and enable regional entrepreneurs who want to start their own business but do not have sufficient funding to upload their business proposals to the Regional Enterprise Development Initiative (REDI) platform. It is also meant for potential investors and partners, including in the Sri Lankan diaspora, to access information and to increase investment opportunities.
The Investment Tab is an attempt to provide a space to support sustainable regional business development, fulfilling a need of the regional business communities, said Mr. Harin Malwatte, Secretary General/CEO of CCC. He also thanked International Alert and British High Commission Sri Lanka for the support provided to the development of the Investment Tab and its focus to support the development of projects that accommodate and build on the potentials and strengths that already exist in the regions.
Chief Guest Michael Halpin, Head of Trade and Investment of the British High Commission said that the launch of the Investment Tab is crucial with ongoing development in the regions. He explained that it addresses the long awaited need of partner organizations in the districts to get exposure to and the investors to understand regional capacities. He also pointed out the overall development benefits it will bring to emerging businesses and young entrepreneurs.
The Sri Lanka and UK trade relationship is growing with over 100 UK companies in Sri Lanka and exports to the UK estimated at £815 billion with the imports increasing to £154 billion. “Sri Lanka is in the path of growth and it must be maintained through turning the ideas into reality by connecting the small and medium businesses to the global economy”. Hon. Harin Fernando UNP MP of Badulla District stated that he was delighted to see the launch of Investment Tab connecting the districts to Investors. He also mentioned that it acts as opportunity creator for young talent. He mentioned that taking calculated risk will encourage the district economy to progress in the right direction.
As a part of International Alert Sri Lanka and YBSL programme development, the investment Tab supports the initiative of empowering the District Chambers to act as the link between the disadvantage youth by providing resources and access to business contacts, to reduce economic and social disparity through promotion of youth entrepreneurship in least developed/marginalized areas of Sri Lanka, especially in the North and East. This initiative is part of International Alert’s efforts to encourage the Sri Lankan diaspora to review and explore business prospects in the country in a responsible manner. These are the kind of initiatives that can enhance post conflict recovery, through supporting livelihoods and creating tangible economic opportunities at the regional level.
This is expected to be a response to the Government of Sri Lanka’s declared intentions to strive towards more socio-economic cohesion throughout the country, as stated in the Mahinda Chinthana, and the recommendation made in LLRC report towards inclusive development to empower local infrastructure and empower marginalized communities.