Sri Lanka’s CCC signs MoU with Australia’s flagship private sector development programme
The Ceylon Chamber of Commerce (CCC) of Sri Lanka has reportedly entered into a Memorandum of Understanding (MoU) with the Market Development Facility (MDF), which is Australia’s flagship private sector development programme, in order to support the private sector in innovating to achieve growth and new economic opportunities for Sri Lanka.
MDF is an Australian Government-funded multi-country initiative, implemented by Palladium in partnership with Swisscontact, which promotes sustainable economic development through higher incomes for women and men in its partner countries in the Indo-Pacific.
According to local media reports, through this joint initiative, CCC and MDF intend to host seminars and workshops, and encourage knowledge sharing through publishing research findings and business insights on topics that will drive bottom-line growth for the private sector.
“These discussions to inspire sustainable economic growth in Sri Lanka are timely, and Australia, through MDF, is proud to support the Ceylon Chamber of Commerce in this initiative,” Australian High Commissioner to Sri Lanka David Holly has been quoted as saying.
The first event to stem from this initiative is expected to focus on increasing awareness among agribusinesses on the risks of climate change and its impact on business models.
The planned climate change workshop is to also encourage investments into climate adaptation strategies to improve agricultural livelihoods. A series of engagements are underway to organise an online forum with industry leaders to share their experience and business cases for this purpose.
CCC Chief Executive Officer (CEO)/Secretary General Manjula de Silva has been quoted as saying, “This is an important occasion as we enter into this MoU. CCC has a close relationship with the Australian Government and we are happy to be a part of this effort. There are clear purposes in getting into this partnership to carry out joint events, seminars, and workshops of mutual interest. It is great to have one more partner added to our network.”
MDF Sri Lanka Country Director Momina Saqib has stated, “MDF is excited about the initiative and recognises the Chamber’s important role in supporting the private sector, as well as its longstanding advocacy for private sector growth. MDF has a mandate of promoting private sector-led inclusive growth. We see shared goals and common objectives between CCC and MDF and believe this collaboration will contribute to Sri Lanka’s prosperity.”
OSL take:
With Sri Lanka fast becoming a business hub in the South Asian region supported by its geographical positioning in the Indian ocean and the many trade agreements as well as trade concessions enjoyed by the country, the island is being promoted as a business/investment/trade destination in the region. Sri Lanka’s economic expansion even during the Covid 19 pandemic has increased the confidence of foreign businesses/investors.
| Article Code : | VBS/AT/20210611/Z_7 |