Yarlpanam Chamber welcomes package to revive ailing SMEs | Page 2 | Sunday Observer

Yarlpanam Chamber welcomes package to revive ailing SMEs

19 January, 2020

The Northern Province looks forward with renewed hope for a better economic environment for its businesses, especially the small and medium enterprise (SME) sector.

“We are hopeful that the government will continue its efforts to revive ailing SMEs and with the recently introduced debt relief package, the SME sector is confident that they could contribute more towards the national economy with the funding facilities available for the sector. As the entire business community regards the government’s move as a positive development towards economic growth in the Province, the community works with much vigour to make a significant impact on the economy,” President, Chamber of Commerce and Industries of Yarlpanam (CCIY), K. Vignesh said.

The business community did not have an opportunity to upscale or technology infusion due to many reasons, lack of funding being the major cause. Therefore, we will benefit from the funding facilities and are looking forward to becoming a vibrant economic force in the country, he said.

Lack of financial assistance has been the biggest drawback for emerging businesses and entrepreneurs are encouraged by the government’s approach towards the SME sector. They are eagerly waiting to revive businesses and this is a positive sign towards the upward movement of the economy, he said.

“We see a great opportunity in the Jaffna International Trade Fair 2020 to be held next week as it will provide the much needed platform for entrepreneurs to build business links and contacts while showcasing their abilities and capacities,” he said.

Jaffna International Trade Fair 2020, a one of its kind in the Northern Province, will be launched on January 24 and will go on till 26 at the Muttraweli grounds in Jaffna.

An annual event since 2010, this year Jaffna International Trade Fair will feature trade stalls, live evening musical shows, an amusement park with children’s play area, Hawker type food court and a range of seminars and workshops this year.

The very first Jaffna International Trade Fair was held in 2002, during the ceasefire of the three-decade war on terrorism in the Northern region, as a mechanism to develop and upgrade the trade functions in the Northern region.

The first exhibition was held amidst many challenges such as checkpoints, lack of accommodation facilities and limited resources.

After peace returned in 2009, the second exhibition was held in 2010 which has been an annual event up to this year.

The International Trade Fair serves as a platform to bring together Southern and international entrepreneurs and traders to meet and engage with their Northern counterparts.

Jaffna International Trade Fair 2020 is organized for the 11th consecutive year by Lanka Exhibition and Conference Services (LECS) in association with the Chamber of Commerce and Industries of Yarlpanam (CCIY) with the support of the Jaffna Municipal Council, International Business Council, the Ministry of Industry and Commerce and the Consulate General of India in Jaffna.

The event is known to be a multi-trade affair featuring agriculture, hospitality, education, fashion and food industries with all most all the Northern hotels going on full occupancy and other services and transport and logistics also seeing a rapid growth during the period.

Organisers noted that the exhibition is also a good opportunity to introduce many value added products from Jaffna to the international market, especially the UK, US, Canada, Australia and Switzerland through the Export Development Board.

Jaffna Trade Fair also serves as a platform to introduce global trends to the Northern region of Sri Lanka and as an opportunity for northern communities to exhibit their products and services to the rest of the country.