Sri Lankaโs SMEs are set receive a boost as the sector has come grabbed the attentions of the powerful Swiss investment arm SGE. And for the first time, Sri Lankan SMEs will take part in a leading SME event of Global scale while a top Swiss investment team led by the co-founder of a Zurich merchant bank is scheduled to Colombo for CHOGM Biz. โSri Lanka SMEs need tech capability for them to advance. Your food processing, water bottling, dairy & livestock, and packaging are some of the SME sub-sectors that picked our immediate interestโ said a discerning Beat Ineichen, Senior Consultant India of Switzerland Global Enterprise (SGE), a global SME expert on 30 October in Colombo.
SGE Consultant Ineichen, who arrived in Sri Lanka on 26 October was addressing Rishad Bathiudeen (Minister of Industry and Commerce of Sri Lanka) on 30 October during his courtesy call on Minister Bathiudeen. Previously, Consultant Ineichen already witnessed two special presentations on 28 October by National Enterprise Development Authority (NEDA) and the EDB under the Ministry of Industry and Commerce on Lankan SMEs and the forthcoming โReflection Sri Lankaโ โ the trade, tourism and investment exposition to be held in parallel to forthcoming CHOGM. Consultant Ineichenโs SGE brand, the powerful entity operating under the Swiss government, is Switzerlandโs center of excellence for internationalisation and it is involved in exports, imports and investments (to Switzerland) and works very closely with Swiss SMEs to achieve these objectives. Director Schanzenbach was in Sri Lanka on a fact finding mission, and to explore emerging and other investment opportunities here for Swiss investors, especially in Sri Lankaโs SMEs.
In 2012 Sri Lanka received Foreign Direct Investment (FDI) from Switzerland totalling $ 14.46 Mn.
โI have 17 years of SME experience in Asia alone with four in Malaysia. I am here on a fact finding mission as a follow up to 03 October visit of Wolfgang Schanzenbach, Regional Director Asia Pacific of Switzerland Global Enterprise (SGE) who met you Hon Minister. I am now hopeful that we collaborate closely with Sri Lanka. Sri Lanka can immensely benefit from the innovative side of Swiss SME, which is more than 95% of the Swiss economy, except for the bog-boys such as Nestle and Holcimโ said New Delhi based SGE Consultant Ineichen, and added: โSri Lanka SMEs need tech capability for it to advance. Your food processing, water bottling, dairy & livestock, and packaging are some of the SME sub-sectors that picked our immediate interest. We invite Sri Lankan SMEs to the forthcoming Asia Pacific SME event in Switzerland in June 2014, more details of which we will provide in the due course. I am also pleased to inform you that a Swiss Business Delegation of ten firms will be arriving in Sri Lanka for CHIOGM Biz forum led by Mark Dangel, Chairman of Sri Lanka Committee of the Swiss Asian Chamber of Commerce (SACC). Dangel co-founded Zurichโs Swiss merchant bank โA&A Actienbankโโ.
Responding to Consultant Ineichen, Minister Bathiudeen said: โWe are highly encouraged by SGEโs immediate follow up on my 03 October meeting with Wolfgang Schanzenbach, SGEsโ Regional Director Asia Pacific, in Colombo. This shows SGEโs keenness and action orientation which we believe can be a win-win for SMEs at both sides. National Enterprise Development Authority (NEDA) under my Ministry has launched an international level initiative to link our SMEs to global markets with the web portal sme.lk. In fact, I would say that this is the time that our SMEs need support than in any other times. I also urge SGE to focus on SME sector in the North and East so that the powerful SME capacities of these regions can be re-awakened.โ
During the meeting, both Minister Bathiudeen and Consultant Ineichen also discussed Sri Lankaโs SME outlook, need for new SME data as well as NEDAโs many initiatives for Sri Lankan SME sector.
Leader of All Ceylon Makkal Congress