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NCE welcomes removal of emergency; says it will boost investment and trade

Sep 2, 2011 3:27:10 PM - www.ft.lk

The National Chamber of Exporters of Sri Lanka (NCE) which has a membership of over 400 corporates said yesterday it welcomes the removal of the emergency by President Mahinda Rajapaksa.
“It will give confidence to the Private sector to invest, upgrade and expand their operations further,” NCE President Sarath De Silva said in a statement.

The NCE which represents the major sectors of the economy such as tea, rubber, coconut, spices, fisheries, gems and jewellery, boat making & ship building, and agricultural products etc., will now be able to invest in human resources and market expansions to achieve the export target of Rs. 20 billion by 2020.
“The President and the members of the Council are unanimously of the view that the country is ready to harvest the peace dividend and expand development to the North and East,” the statement added.
De Silva said the local investments harnessed will increase the confidence of foreign investors to bring in more direct foreign investments.
“The stable rupee, single digit inflation and the low interest rate regime coupled with the lifting of the emergency will enable exporters who worked under extremely difficult conditions for the past 30 years and survive, to enjoy the benefits of peace with a better business environment,” NCE Chief said.
“This move will give the President and the Government of Sri Lanka the necessary private Sector support, to strengthen the Public Private partnership,” he added.