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Emphasis laid on critical role played by Sri Lanka’s SMEs in driving the economy

Emphasis laid on critical role played by Sri Lanka’s SMEs in driving the economy

Sri Lanka’s small and medium enterprises (SMEs) and micro sectors have clearly proven their critical role in not only sustaining the domestic FMCG supplies, but even saving households from shortages – and hunger itself, Confederation of Micro, Small and Medium Industries (COSMI) has said.
COSMI has reportedly hailed the achievements of SME and micro sellers and delivery rider services during lockdowns as a clear proof of the sector’s untapped potential as the last mile link in FMCG supply chains.
“We saw their capacity for Just In Time (JIT) delivery of essential items and groceries. With remarkable speed they largely saved people from shortages and hunger,” COSMI Founder President Nawaz Rajabdeen he been quoted as saying in the local media while assessing the outcomes of door-to-door delivery services.
“Along with essential services, the security forces and healthcare workers, another service system came to our frontlines unexpectedly. These are our SME and micro sellers and micro delivery riders and taxi services – they all took brave risks, rose to their challenge, took over disrupted supply chains to deliver essential food deliveries to households, thereby saving lives of residents in lockdown – and also reducing the burden of the Government from food delivery problems,” Rajabdeen has further stated.
“These SME and micro delivery persons supplied a vast range of essential products to households –and more. In addition to various processed meats, seafood, groceries and fresh fruits and vegetables, they supplied medicines and other medical aid, personal protective equipment such as masks, various beverages, books and stationery items and even computer equipment,” he has said.
“All in all, it is the SME and micro sectors that clearly rose to meet the consumer demand pressures during the lockdown. Large scale supermarkets and FMCG firms too were delivering door-to-door but SME and micro deliveries pierced every nook and corner with speed. We thank the officials and Police service of Sri Lanka for giving SMEs, micros and the riders the required support in curfew passes. We also call officials to support them in boosting their sanitary standards and immunity boosting,” he has added.

OSL take:

Sri Lanka’s SME sector has become the engine of growth where the country’s economy is concerned. Given the global economic constraints, Sri Lanka is focused on developing its manufacturing sector in order to be self sufficient as well as target the export market. Much emphasis at this juncture is placed on the country’s SME sector. Therefore an investment/partnership with stakeholders in Sri Lanka’s SME sector would yield positive results for the potential investor/partner.

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Article Code : VBS/AT/20052020/Z_3

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