SL considers establishing life sciences park in latest industrial push

• “2012-3Q industry growth 7.3%”: Rishad
• 2013’s first Key Person’s Forum a hit among Kandyan industrialists
• “Let’s continue this”: Kandyan industrialists

In the wake of Sri Lanka’s industry sector showing a strong 7.3% growth in Q3-2012, the country is considering the possibility of setting up a dedicated park for life sciences development.

“A dedicated zone for life sciences is being planned for the production of pharmaceuticals and medical equipment to reduce the loss of foreign exchange,” revealed Minister of Industry and Commerce of Sri Lanka Rishad Bathiudeen on 15 January.  

Bathiudeen was addressing the Key Persons Forum (KPF) at Queen’s Hotel in Kandy on 15 January, where more than 100 representatives from various industries in Central Sri Lanka, anxiously gathered to meet him to directly consult with him on various industrial issues faced by them.

During the lengthy and in-depth Kandy KPF session, Bathiudeen along with his top officials from the Department of Commerce, EDB (regional) and other departments, successfully addressed many issues faced by Central regional industrialists on the spot.

Among the issues addressed were difficulties Kandyan industries face when linking with international markets through the Export Development Board, facilitation of the region’s SME sector for international trade fairs, and land and tax issues faced by them.

Interestingly, during the same session, Bathiudeen also volunteered to address several issues beyond his Ministry’s scope such as farming issues in various micro sectors in the region and also Kandy’s tourism promotion.

The 15 January KPF was organised by the Small and Medium Enterprise Developers (SMED) arm of FCCISL and the Chamber of Commerce and Industry of Central Province, in collaboration with the Asia Foundation supported by the Australian Agency for International Development.

Many Kandyan industrialists were full of praise for the first KPF of 2013, hailing it as a great success even before the sessions came to a close at 1 p.m.  “We are very happy that Minister Bathiudeen met us directly to discuss our issues,” Woodworld Enterprises, Pallekele, Kandy Manager W.M.R. Weerasooriya.

“For the first time we received an opportunity to meet the Industry Minister to highlight our issues and we are delighted to see a successful session today. For today’s initiative to be fruitful, we need to continue similar sessions in future as well,” stressed Weerasooriya, who is a former Presidential Awards Winner for Innovation (IDB) and also the President of the Central Province Chamber of Commerce.

“Our doors are always open for you, the regional entrepreneurs. You can contact us directly at any time for an appointment for discussion where our officials will take up the matter immediately,” Bathiudeen assured.

“The Government has set up the Ministry with big fund outlays to serve you, the industrialists of the country. But we believe that Lankan industrialists are not making use of our resources sufficiently or reaping the maximum benefits offered by our Ministry. Remember, we are here to assist you,” Bathiudeen added.

More than 150 firms of every scale function in Kandyan region, providing direct and indirect employment to a workforce exceeding 9,000. Plastics, woodcraft, jewelleries, stationery, umbrellas, vehicle body fitting and brass are among leading medium to large scale industries in the region.

“Our industry sector was able to show an impressive growth rate of 10.3% in 2011, for the second consecutive year, contributing to that year’s 8.3% GDP growth. In the first, second and third quarters of 2012, the industry sector grew by 10.8%, 9.5% and 7.3% respectively,” Bathiudeen revealed.

“We believe that the behaviour of the industry sector needs to be more strategic, focused and energetic so that it becomes a viable input to achieve US$ 20 billion worth of exports by 2020 under President Mahinda Rajapaksa’s vision.

“Our contribution towards a value creating economy starts with the exported products and market diversification efforts. The bulk of our exports are still in primary form while we continue to rely on a few key markets for our exports earnings. Hence, diversifying domestic production and external markets is an urgent requirement.”