Federation of Chambers of
Commerce and Industry of Sri Lanka

Asarim Fccisl – Edi Collaboration On Entrepreneurship Development

Entrepreneurship Development Institute of India [EDI] and the Federation of Chambers of Commerce and Industry of Sri Lanka [ FCCISL] signed separate agreements with Aquinas South Asian Regional Institute of Management [ASARIM}] today to launch a major training and consulting progr…

Entrepreneurship Development Institute of India [EDI] and the Federation of Chambers of Commerce and Industry of Sri Lanka [ FCCISL] signed separate agreements with Aquinas South Asian Regional Institute of Management [ASARIM}] today to launch a major training and consulting program in Sri Lanka towards assisting entrepreneurs to plan, develop and fund small and medium enterprises.

The agreements signed today (12 May 2005 ) in Colombo by the Director of EDI Dr. Dinesh Awasthi, Mr. Nawaz Rajabdeen, President of FCCISL and Mr. Guy de Fontgalland, President of ASARIM is an important three-party collaboration which paves the way for EDI’s full scale engagement in Sri Lanka in cooperation with FCCISL and ASARIM.

ASARIM President Mr. Guy de Fontgalland who initiated the 3-party professional collaboration program said that the move is aimed at giving entrepreneurship development in this country a defined focus, a clear set of entrepreneurial skills related to enterprise planning and development and access to funds through local banks and international donors.

ASARIM-EDI-FCCISL collaboration will lead to very specific enterprise development programs. The three institutions expect to train and consult to some 1000 entrepreneurs each year and assist them with access to funds and finance.

FCCISL Chairman Nawaz Rajabdeen said that FCCISL which already is at the forefront of supporting small and medium enterprises in a big way views the ASARIM-FCCISL-EDI collaboration as providing the cutting edge in terms of experience, professionalism and global network of resources.

Dr. Dinesh Awasthi, Director of EDI based in Ahemedabad, India and a livewire behind EDI operation said that the collaboration agreements mark the beginning of a major initiative between Sri Lanka and India and brings together strategic synergies of key institutions in India and Sri Lanka.

ASARIM is a specialized management training, education and consulting institute within the 52-year old Aquinas and is networked on a global basis. FCCISL is an apex organization for the Sri Lankan private sector consisting of some 50 Chambers of Commercial, Industrial and Trade Organizations representing over 8500 business enterprises throughout the country.

EDI is India’s apex organization, headquartered in Ahemedabad, for entrepreneurship development. EDI is classified as a Centre of Excellence by the United Nations Economic and Social Commission for Asia and the Pacific [ESCAP] and is supported by 4 of the top banks in India including the State Bank of India. EDI draws support and assistance from the Indian Technical and Economic Program [ITEC] of the Ministry and External Affair of the Government of India.

At the signing ceremony at Grand Orient Hotel in Colombo, Dr. Dinesh Awasthi and Mr. S.B.Sareen of EDI made a presentation of EDI experience in India with particular reference to the regeneration of earth-quake devastated Gurajarat. Some 75 professionals and businessmen attended the ceremony.

Mr. Jitendra Kumar, First Secretary, High Commission of India in Sri Lanka, participated at the MOU signing ceremony and addressed the participants on India’s efforts to contribute to the entrepreneurship development program. He emphasized the close and growing partnership between India and Sri Lanka and commended ASARIM-FCCISL-EDI collaboration.

ASARIM President Guy de Fontgalland has been appointed Advisor, International Business to the Entrepreneurship Development Institute of India [EDI] in Ahemdabad.

The appointment makes Guy de Fontgalland a roving ambassador for EDI and recognizes the potential of ASARIM as a key South Asian Regional Institute, and his depth of knowledge and experience internationally.

Guy de Fontgalland, who holds a postgraduate degree from Harvard University, is a reputed merchant banker who has worked with the World Bank group, the Westpac Bank, Asia Pacific Bank and the Flanders Federation of Industries in Belgium in senior executive capacities.

EDI is an apex institution in India, specializing in entrepreneurship training and development. It is classified by the United Nations Social and Economic Commission for Asia and Pacific [ESCAP] as a Centre of Excellence and works in close collaboration with major donor agencies and governments.

In India, EDI is set up by four of the top banks, viz: Industrial Development Bank of India, State Bank of India, ICICI Ltd and IFCI Ltd and benefits from support given to it by the Indian Technical and Economic Cooperation [ITEC] program of the Ministry of External Affairs, Government of India and is an inter-regional centre for investment promotion and entrepreneurship of the United Nations Industrial Development Organization [UNIDO].

Guy de Fontgalland negotiated a 3-party alliance among ASARIM, Federation of Chambers of Commerce and Industry of Sri Lanka [FCCISL] and EDI to promote entrepreneurship development in Sri Lanka and Maldives. Collaboration agreements were signed at the Grand Orient Hotel in Colombo on Thursday, May 12.