Jaffna International Trade Fair 2012 – FCCISL Investor Forum

Exploring enormous business opportunities and broadening the relationship between the local traders, general investors, regional chamber members and local community of Jaffna, the Jaffna International Trade Fair (JITF) was successfully concluded on the month of January. JITF held at the beginning of 2012 was an effective New Year wakeup business call to all stakeholders of Jaffna businesses and Industry.

The third annual Trade Fair organized by the Lanka Exhibition and Conference Services (Pvt) Ltd in collaboration of the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) held from January 20-22 at the Durayappah Stadium in Jaffna. Honorable Minister Douglas Devananda, Ministry of Traditional Industries and Small Enterprise Development inaugurated the trade fair and with the participation of Mayor Ms. Yogeswari Patkunarajah, Government Agent Ms. Emalda Sukumala, President of FCCISL Mr. Kumara Mallimaratchi and Council General of India Mr. V Mahalingam.

The centerpiece of the Trade Fair was the two day Investor Forum organized by FCCISL with the focus on development of the Jaffna region with the focus on investment opportunities in Northern Region of Sri Lanka. The forum created synergy in and between representatives from diversified companies, service providers, investors, government officials and many other traders looking for investment opportunities and business expansions.

The topics discussed were ranged from Existing Economic and Business Environment in Northern Province, Potential Investment Opportunities in Northern Province and Investment Incentives by BOI, Facilitation for Investment & Business by the District Secretariat and Public Offices in Northern Province and Future Development Plan for Northern Region and Current Investment Opportunities through Uthuru Wasanthaya. K Poornachandran, President, Chamber of Commerce and Industry of Yarlpanam, Mrs. Renuka Weerakone, Director (Secretariat) BOI, Mrs. Imelda Sugumar, Government Agent, Jaffna, Mr. V. Premachandran, Director, Regional Development Unit – Ministry of Economic Development were among the panel of resource persons.

Indian delegates also participated at the Investor Forum. Furthermore, the delegates were afforded an opportunity to conduct one-to-one business discussions with their counterparts from the North and Government Officials. In these sessions three major issues in Jaffna District were highlighted which are electricity and energy issue, lack of skilled labour and lack of collateral requirements for SMEs loan facilities. According to the Jaffna Government Agent the electricity issue will be sorted out as on going electricity projects will be completed within the year and consequently capacity of the energy generating will be increased.