IDB and Ceylon Federation of MSMEs sign historic MoU

IDB Chairman Dr. Saranga Alahapperuma (right) and Ceylon Federation of MSME President Sashika de Silva with the copy of the MoU signed between the two organisations and their officials – Pic by Lasantha Kumara

Marking a significant milestone for Sri Lanka’s entrepreneurial landscape, the Ceylon Federation of MSMEs and the Industrial Development Board (IDB) last week signed a momentous Memorandum of Understanding (MoU). 

IDB Chairman Dr. Saranga Alahapperuma and Ceylon Federation of MSMEs President Sashika De Silva were the signatories.

De Silva said the Federation’s journey has been one of immense dedication and achievement, evident in the successful implementation of the Federation for Entrepreneurship.

“This authentic platform has not only benefited entrepreneurs but has also positively impacted the broader community. The MoU with IDB signifies another crucial step towards realising the Federation’s strategic objectives,” she added.

It was noted that the IDB’s unique role in addressing tasks that are essential for entrepreneurs is often overlooked. While many institutions focus on achievable tasks within the country, the Federation recognises the global dimension of entrepreneurship. By connecting with international standards and needs, the Federation aims to elevate Sri Lankan entrepreneurship to a global platform.

One fundamental aspect is marketing—an indispensable component of entrepreneurship. Additionally, the Federation aims to foster unity and collaboration among various government institutions, streamlining resources and opportunities for entrepreneurs within a structured system.

Transitioning from an import-oriented economy to one centred on sustainable export oriented manufacturing culture is no small feat. It requires a fundamental shift in policies, regulations, and practices, a task that cannot be accomplished by the government alone.

The Federation’s approach encompasses strategic partnerships and a cohesive ecosystem to drive this transformative change.

Looking ahead, entrepreneurs can expect tailored solutions and support, addressing key challenges and paving the way for sustainable growth.

The Federation is inviting professionals, stakeholders, and the entrepreneurial community to join hands in this transformative journey towards a vibrant and resilient entrepreneurial ecosystem.

Reflecting on the Federation’s journey so far, de Silva said notable achievements include engagement with international bodies like the International Monetary Fund, constructive dialogues with Government officials, and strategic collaborations with investors and organisations. These milestones underscore the Federation’s commitment to creating a conducive environment for entrepreneurship and economic growth.

She said signing of the MoU with IDB marks a pivotal moment in Sri Lanka’s entrepreneurial evolution, signalling a new era of collaboration, innovation, and prosperity for the nation’s entrepreneurs.

The event saw the participation of the Federation’s Board members, including Vice Presidents S.N. Raghavan and Mahendra Perera, Treasurer Shohan Wijesinghe, Director Yasasiri Rodrigo, National Organiser Ajith Kumara, Secretary Nandalal Lekamge, and Founder Suran Weerarathne. Their presence highlighted the collective commitment towards fostering a vibrant entrepreneurial ecosystem in Sri Lanka. From the IDB, its Director General H.M.S. Samarakoon, and Director Regional Development P.P.P.S. Dikwella, Director Industrial Estates I.M.J. Illangakoon, and the staff were present.