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Embracing the Tide of Change EMBRACING THE TIDE OF CHANGE THE NATIONAL CHAMBER OF COMMERCE OF SRI LANKA THE NATIONAL CHAMBER OF COMMERCE SRI LANKA THE NATIONAL • ANNUAL REPORT 2019/2020 ANNUAL REPORT 2019 • 2020 FINANCIAL YEAR : 1ST APRIL 2019 TO 31ST MARCH 2020 OPERATIONAL YEAR : 1ST JANUARY 2020 TO 31ST DECEMBER 2020 The Vision of National Chamber of Commerce of Sri Lanka is to be the leading source of services and assistance to businesses countrywide for promotion of domestic and foreign trade with special emphasis on the development of Micro, Small and VISION Medium Enterprises. The Mission is to provide trade promotion services and assistance required by businesses to function competitively in domestic and overseas markets and to represent them in matters of common and individual interest at all for including discussions and deliberations convened by the government. The Mission is to be achieved primarily through enhancing the efficiency and competitiveness of firms countrywide and strengthening the dialogue with the government to assist in creating a MISSION conducive business environment. • Meeting member expectations • Giving awareness to the stakeholders at the right time • Giving a helping hand to SMEs • Respect the equality • Empowering stakeholders • Bringing the international business flavour to VALUES local businesses EMBRACING THE TIDE OF CHANGE Standing at the crossroads of uncertainty and hope for the future, each individual and each entity has been compelled to adapt; forced to realise the limits of our potentials in order to evolve within the fast pace of change. But this does not imply that our limits cannot be changed and expanded; in fact, for most, it has been the contrary. For some, it has become a journey of resilience that has pushed them to redefine their potentials and set new goals for the future. NCCSL continues to weather these challenges alongside our SMEs and the wider business community, as we too have altered our goals and services to be a strong and dependable organisation for our members and for the entrepreneurs of our nation – enabling them to embrace the tide of change. Contents Past Presidents and Secretary The Chamber Generals/CEOs 45 Standing Committee Structure About this Report 03 46 The Governing Council & 06 About the National Chamber Secretariat 47 Training and Knowledge Sharing Journey of the National Chamber 08 48 Programs Business Development 11 Highlights on Flagship Events Programs – SME 52 Bilateral and 61st Annual General Meeting of the Diplomatic Initiatives Chamber 12 54 International Trade 19 Message from the President 55 Strategic Initiatives Secretary General’s Review 57 23 Capital Report Executive Team - www.fromsrilanka initiative 60 28 National Chamber of Commerce Youth Forum Chamber Representation in 65 Other Organisations 30 32 The Council of 2020 Management Discussion Past Leadership 37 68 Management Discussion The Operational Team 38 Risk Management 74 Chamber Services 42 Financial Statements 44 Network for SME Development 78 Financial Statements About this Report Report Content and Boundary This year’s report culminates the work, programs and The 2019/20 annual report of the events coordinated and hosted by the National Chamber, and gives a comprehensive account of our work in National Chamber of Commerce promoting bilateral trade and enhancing diplomatic relations Sri Lanka, was compiled to provide with other nations. Given the extraordinary circumstances of the respective its members and stakeholders a operational year, our endeavours were limited, and our plans were on the most part delayed till the next operational clear and comprehensive view year. However, even within this context, we took strategic approaches to enhance the services we provide our of the Chamber’s work and members. its progress across the period Audience The report was compiled for the reference and use of under review. The annual report the members of the Chamber, the business community, prospective businesspersons and other stakeholders of the covers all operational aspects and National Chamber. developments of the National Declaration Chamber, which transpired The Financial Statements presented in the report, were audited and prepared by KPMG Chartered Accountants in between 1st January 2020 and 31st accordance with the requirements of the Companies Act 2007 and has been certified by Mr. Gamini Wimalasuriya, December 2020 along with“ our Honorary Treasurer and was also approved by Mr. Asela de Livera - President of the National Chamber and Mr. Nandika financial performance till end of Buddhipala, Senior Deputy President of the National Chamber of Commerce Sri Lanka. 31st March 2020. 12 726 OVER 1,500 NEW MOUs CORPORATE CONNECTED SMES MEMBERS The National Chamber of Commerce of Sri Lanka 3 Annual Report 2019/20 THE CHAMBER The Chamber fulfilled this objective in its formative years, and since then continues to “ provide leadership and guidance in developing enterprises. About the National Chamber expedited numerous ventures that not only provide For 72 years, the National Chamber enterprises with opportunities for growth within domestic of Commerce Sri Lanka has served markets but also exposure to global trade and commerce. the nation’s business enterprises Development of Businesses and Industries The development of the SME sector has been one of our and industries, by supporting biggest objectives. As a result, we have initiated several strategic endeavours in developing the sector and its their objectives of growth and aspiring entrepreneurs. In 2003, the Chamber initiated multiple projects to support SMEs in the country. development. As one of the key One of our key responsibilities is providing the right guidance and direction to entrepreneurs of Small and Chambers of the country, NCCSL Medium Scale Enterprises, providing the necessary information on regulations, standards, processes and spur is committed to uplifting and strategic thinking, empowering them to grow. Furthermore, the National Chamber also trains SMEs with the ability developing businesses, with a special to think innovatively and be receptive to the fast-evolving focus on shaping the SME sector. needs of both domestic and global markets. As the country’s foremost chamber of commerce, we Moreover, our determination is in continuously assess the myriad of challenges faced by businesses, especially in terms of innovation and adoption safeguarding the interests of the of technological advancements. As part of our efforts “ towards bridging the digital void between local businesses country’s businesses while taking and the global marketplace, the National Chamber developed and launched a B2B portal (fromsrilanka.com), every enterprise to the next phase of which connects buyers and sellers on a global scale. The portal provides exposure to businesses across 50 growth and success. categories, which collapses further into 900 products and services. This gateway site is now promoted across various sectors and industries and continues to gather the interest For the past seven decades, we have succeeded in of domestic and international companies. achieving both regional and global recognition and continue to create new avenues for our entrepreneurs, connecting Training and Development them with the world beyond national boundaries. The National Chamber has become one of the most sought Reminiscing on our inception in 1948, the National after and credible sources of knowledge dissemination, Chamber was established to provide a unified nationalistic business training and professional development. framework for our businesses, safeguarding domestic Knowledge sharing and business development programs enterprises. At the time of our inception, our immediate are organised on a regional and national scale. These focus was in establishing a forum, which would address programs aims to train entrepreneurs, educate them on challenges that surrounded the Ceylonisation of trade and various aspects of business management and empower in creating a positive and conducive climate for businesses them to think through the clutter. to operate. Our founding members represented this unified national objective proudly, as the National Chamber Our members also benefit from Chamber Services, which became the common voice of all ethnicities in matters of covers a broad base of services from providing trade and trade and commerce. business-related certifications to providing secretariat services to Associations. NCCSL also gathers research The Chamber fulfilled this objective in its formative years, and information for the benefit of our members. As a result, and since then continues to provide leadership and in 2011, the Chamber established a Certificate Course in guidance in developing enterprises, and in broadening ‘Entrepreneurship Management (CIEM)’ in association with trade-related prospects for our businesses. Serving the University of Colombo. the nation by promoting domestic industries, we have 6 The National Chamber of Commerce of Sri Lanka Annual Report 2019/20 Strategic Undertakings Additional Areas of Responsibility Each operational year, the Chamber hosts many trade The National Chamber also takes the initiative in assisting discussions, meetings and events that enhance bilateral businesses that require strategic guidance in developing trade and diplomatic relations between Sri Lanka and other their potentials. These mainly include: nations. • Provide value additions to the life cycles of products The Chamber also expedites Memorandums of and services in several
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