Sri Lanka initiates 500 production villages that would support start-ups
Sri Lankan authorities are currently in the process of setting up 500 production villages that assist the self-employed and start-ups around the island.
Named the ‘Saubhagya Production Villages’ programme, it focuses on building an economic link between remote communities and the city and targets the establishment of 500 manufacturing villages under the ‘Self-Employment Empowerment’ programme.
Sri Lanka’s State Minister for Samurdhi, Household Economy, Micro Finance, Self-Employment, Business Development and Underutilised State Resources Development, Shehan Semasinghe has said during a recent webinar that around 110,000 people had already been identified under the programme.
The State Minister has made these remarks during a webinar titled: ‘How to help the Home Economy and Self-Employment Promotion to Solve Economic Problems Caused by the Corona Epidemic,’ organised by Sri Lanka’s Department of Government Information.
Semasinghe has said that the selection was made based on the recommendations and investigations of the Government agencies relevant to the business sector of the self-employed.
OSL take:
Sri Lanka is engaged in an aggressive development programme covering all key economic sectors in the country. The country’s economy is on the path to recovery after facing the pandemic impact and is showing signs of further growth. Several key economic sectors have recorded positive growth in the past few months amidst Covid 19. Given the country’s geographical positioning in the Indian ocean, trade agreements as well as concessions enjoyed by the country and the continuously improving ease of doing business environment have helped Sri Lanka develop as an emerging business hub in the South Asian region.
| Article Code : | VBS/AT/10092021/Z_1 |