JAFFNA: The Associated Chamber of Commerce (ASSOCHAM) of India has offered to partner with Sri Lankan companies to revive sick companies or acquire those on the verge of closure, said Vinay R. Sharma, National Council member of ASSOCHAM.
Speaking at the inauguration of the Jaffna International Trade fair here on Friday, Sharma said that with South Sri Lanka getting "saturated for Indian businesses", Indian firms would like to move to Jaffna and the Northern Province which are "virgin".
He said that ASSOCHAM would be interested in setting up industrial estates too.
The Sri Lankan Minister of Commerce and Industry Rishad Bathiutheen, said that the Northern Province offers immense scope for new industries because it is still to develop.It accounts for only 3.5 % of the Sri Lankan national GDP in contrast to the Western Province which accounts for 31 % of the GDP. However the North's GDP is growing fast at the rate of 12 % a year since 2012-13, he noted.
The Indian Consul General in Jaffna A, Natarajan urged the 475,00 -member ASSOCHAM to invest in North Sri Lankan has this region is still to attract Foreign Direct Investment.