Business News: The MarCom Collective congratulated Prime Minister Mahinda Rajapaksa and his newly appointed cabinet of ministers as well as all other Members of Parliament over their victory at the recently concluded General Elections.
“We would like to congratulate President Gotabaya Rajapaksa, Prime Minister Mahinda Rajapaksa, the Cabinet of Ministers and all other Members of Parliament on having won the trust and confidence of people to take the nation forward during these trying times. The strong mandate received by the new government holds great promise for business,” said Tharaka Ranwala, President, International Advertising Association (IAA) – Sri Lanka Chapter, representing the MarCom Collective. The IAA is a uniquely poised association that has clients (brand owners), agencies and media institutions as its members.
The Marketing Communications sector employs over 100,000 people directly and indirectly, with approximately 200,000 people depending on it. It generates an annual revenue of Rs.151 billion, as per an ongoing study by Ernst & Young Sri Lanka.
The MarCom Collective is made up of 8 associations intrinsically linked to the advertising and marketing communications industries as well as businesses and professionals from both sectors. They came together following the crippling impact of COVID-19 to actively engage with the government and other key stakeholders on shaping policies that would help revive the sector and empower it to drive economic growth.
Commenting on this, Tharaka added, “Iconic Sri Lankan brands in sectors like garments, tea, spices and tourism continue to stand tall in the global marketplace and reap significant dividends from their investments in brand building. The current global health and economic crisis makes it even more prudent to create and nurture strong export brands that can help bring in much needed foreign exchange earnings. Drawing on the collective experience of our members, we look forward to working closely with the government and all other stakeholders on powering more Sri Lankan brands to the global stage.”