National Chamber of Commerce welcomes positive aspects of Budget 2025

Friday, 21 February 2025 00:04 - - {{hitsCtrl.values.hits}}

The National Chamber of Commerce of Sri Lanka (NCCSL) yesterday in a statement commended the Government’s 2025 Budget, recognising its strategic focus on Micro, Small, and Medium Enterprises (MSMEs), export growth initiatives, and enhanced support for Research & Development (R&D) and innovation.

Speaking on the national Budget proposals, NCCSL President Anura Warnakulasooriya said: “It is a positive move that the Government is prioritising MSME support and export growth initiatives. Additionally, the introduction of an Innovation Invention Fund with an allocation of Rs. 1,000 million demonstrates a strong commitment to leveraging research for economic growth. This initiative will foster collaboration between research institutions, universities, government agencies, and the private sector, ensuring alignment with industry needs.”

The Chamber acknowledges the importance of fostering a strong innovation ecosystem that can drive entrepreneurship and economic transformation. The allocation of dedicated funding for R&D and innovation is a crucial step toward strengthening Sri Lanka’s competitive position in global markets. By promoting research-driven advancements, the Government is creating opportunities for local enterprises to develop cutting-edge solutions, improve productivity, and expand their international market reach.

Furthermore, the NCCSL appreciates the emphasis placed on export-driven growth, as it aligns with the Chamber’s ongoing efforts to facilitate trade and investment opportunities, particularly through bilateral collaborations. Strengthening MSMEs and enabling them to integrate into global supply chains will not only boost economic resilience but also enhance employment generation and regional development.

NCCSL said as a leading voice in Sri Lanka’s business community, it stands ready to support and collaborate with the Government in implementing these initiatives. The Chamber will continue to engage with stakeholders to ensure that the proposed measures translate into tangible benefits for businesses and the economy at large.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.