Lankan corporate sector should have access to more int’l funds

United Kingdom: The Sri Lankan corporate sector should have access to more international funds that can be channeled to the banking sector, said executive vice chairman PDS ventures, Pallak Seth.

He said this at one of the panel discussions during source Sri Lanka apparel and textile so which concluded at Royal Horticulture London here on Tuesday. He said in Bangladesh in addition to the Asian Development Bank, IMF, World Bank and other dona agencies that are commonly available in Sri Lanka there are around 40 other foreign lending institutions that the corporate sector could borrow from.

Due to this, gaining capital and making investments in Bangladesh is easier than in Sri Lanka. He said that the Sri Lankan authorities as well as banks should look at giving the local corporate sector more easier access to borrow from new banking sector channels. He however said despite this area that needs improvement they are very happy investing and doing business in Sri Lanka.

“We have made investments in 15 countries but our Sri Lankan operations can be placed at the top and the best and give them the best returns.”

Another panelist said that the global apparel sector is showing signs of recovering and this sector is expected to see a growth of around 6% in the next five years.

The road show organised by the High Commission, Sri Lanka Export Development Board (EDB), Sri Lanka Apparel Sourcing Association (SLASA) and the Joint Apparel Association Forum (JAAF), was the first such event held after two decades. Organizers hope to hold similar events in Korea, Japan, Germany in the future. It is also the first such an event was held in the UK market making it a historic milestone in the local clothing industry.

This event featured 50 exhibiting booths with several SME companies and it attracted a diverse audience, as buyers and visitors.

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