By Umer Nangiana
With the aim to amplify the existing market knowledge of Sri Lankan entrepreneurs and guide them towards prospective opportunities, the first-ever Sri Lanka Business Forum in Qatar was held at Radisson Blu on Thursday.
The event was organised by the Sri Lankan Business Council (SLBC) under the patronage of Sri Lanka Embassy and Sri Lanka Coordinating Committee (SLCC).
Headed by Sri Lankan Ambassador to Qatar Jayantha Palipana, the forum’s chief objective was to provide an opportunity to Sri Lankan entrepreneurs to enhance their knowledge in business activities and take guidance towards new gateways and prospective opportunities available in emerging fields in Doha.
Two eminent Sri Lankan experts on laws and regulations in Qatar and understanding SMEs markets briefed the participating businessmen about laws and basic taxation in Qatar, besides offering tips on how to establish businesses here and then expand them.
The SLBC also officially launched its website, which contains vital and useful information to their business partners in Qatar. The coordinating body for Sri Lankan businessmen also delivered a mini business directory with information on Sri Lankan businessmen database in Doha.
After inaugurating the forum by lighting an oil lamp, Sri Lankan Ambassador to Qatar Jayantha Palipana said he was happy to meet and greet all Sri Lankans, especially the entrepreneurs.
“You are all Sri Lankans and all of you are same to me. You not only contribute to the betterment of the Sri Lankan community but also to the goodwill of others,” said Palipana, addressing the audience at the opening of the forum.
“I especially speak to entrepreneurs. You have the Sri Lankan identity and in many ways represent Sri Lanka. It is important that you keep the good name of motherland and develop bridges with the local and other communities. You will always be successful,” the ambassador added.
He acknowledged the hard work put in by the SLBC to bring Sri Lankan businessmen together on a single forum and congratulated it on its re-launch. He hoped that the SLBC will also contribute towards encouraging more investments in Sri Lanka from Qatar and assist Sri Lankan businesses and businessmen to establish commercial partnerships in Qatar.
The ambassador also appreciated Sri Lankan businessmen’s contribution and participation towards community activities and causes with their time, energy and resources and urged them to continue doing so.
Speaking to the audience, SLBC President Tenison De Silva hoped that the business forum will lay a firm foundation for Sri Lankan businessmen in Qatar and help further solidify the existing cordial relations between the two countries, helping elevate Sri Lankan businessmen to new heights.
“We’ll make this forum the beginning of a new era for Sri Lankan entrepreneurs to set up new business entries in a more successful manner. I hope SLBC will achieve a significant milestone in Sri Lanka-Qatar corporate relations through private sectors’ contribution in the promotion of trade and development,” said De Silva.
Providing statistics, the SLBC president said Qatar is Sri Lanka’s 33rd biggest import partner and 65th biggest export partner, citing Department of Commerce of Sri Lanka. In 2013, bilateral trade between Sri Lanka and Qatar stood at $66m, with Sri Lanka’s top exports to Qatar being nuts and other seeds, plantains, tea and fresh fruit.
67% of imports from Qatar were plastics, followed by fertilisers (27%), and petroleum gases (4.4%). Sri Lanka’s “Doing Business” global rank has reached the 81st level, up from 102nd in 2010. “These impressive and growing figures light positive hopes in terms of doing business in Qatar,” said De Silva.
He said Sri Lanka and Qatar have always enjoyed consistently cordial and friendly relations, which were further enhanced with the opening of a resident mission in Doha by Sri Lanka in 1997 and the reciprocal opening of the Embassy of Qatar in Colombo in 2004.
“[The embassy] has come a long way in facilitating over 130,000 job opportunities for the Sri Lankan expatriates in Qatar,” said the SLBC president, adding that the recent visits of the leaders of the two countries have also provided a golden opportunity for the Sri Lankan entrepreneurs to venture into the Qatari market.
Rizwan Yaseen from KPMG Qatar in his presentation on “Scope of law, regulation and basic taxation in Qatar” urged the Sri Lankan entrepreneurs to focus on long-term business plans and loyalty towards their businesses as there is no short-cut to success.
Providing useful tips and an introduction to the opportunities in the local market to prospective businessmen from Sri Lanka, Yaseen urged them to focus on the projects in Qatar that have surplus for them.
Explaining ways of establishing businesses in Qatar, he advised the businessmen to regularly pay their taxes and file tax returns, something he said is “important” for the longevity and goodwill of their businesses.
The SLBC also presented a short video on Sri Lanka documenting its rich resources, development and awe-inspiring beauty.
In his presentation on “Understanding the SMEs (Small and Medium Enterprises) Market Environment,” Deepthi Yatiyawela emphasised on the importance of planning a business right from the beginning. “Plan everything from access to market, finances and resources to demand and supply gap and management operations,” said Yatiyawela.
Citing lack of planning as the main reason for the failure of most businesses in the world, the expert urged the entrepreneurs to think in terms of long-term establishment of their businesses and refrain from half-hearted attempts.
He said starting a business is always a bold decision but once it has been taken, it is important for the businessman to employ continuous improvements in their enterprises and services.
He also advised them to choose their banks with care as it was one of the most essential parts of running a successful business. He urged the Sri Lankan businessmen to focus on SMEs as the Qatari government is focused on their growth and is empowering various organisations to contribute towards that goal.
General Secretary of the SLBC, WL Upali closed the forum with his remarks that the SLBC activities are directed at the benefit of running and planning of business ventures and will catalyse the process of win-win partnership of the bilateral dealings between Sri Lankan entrepreneurs and their Qatari counterparts.
“I do hope that you will find our official website useful as it provides information on all SLBC activities besides the most recent information about economies and available business opportunities,” said Upali, addressing the audience.
The president and the executive committee of the SLBC conveyed their heartfelt gratitude to the ambassador and the officials of Sri Lanka embassy, SLCC, Sri Lanka Benevolent Fund Committee, Sri Lanka Majilis, Hotel Raddison Blu management and staff, the two guest speakers, sound engineer Costa, Dammika Waththage from the music band and Mohamed Azeem Saheer, the presenter for their support in making the event a success.
The forum was followed by a dinner and a musical extravaganza.
