Business
Investing in Sri Lanka’s Potential is a bet for the long term
By The Coca-Cola Company, Managing Director – Sri Lanka & the Maldives, Pankaj Sinha
Coca-Cola, with its 62-year presence in Sri Lanka, has remained committed to supporting this beautiful country through its challenges. As someone who has made Sri Lanka his home since 2019, and seen the country grapple with natural disasters, acts of terrorism, and now an economic crisis, I am humbled and honored to witness Coca-Cola’s unwavering commitment to investing in Sri Lanka and giving back to the communities we operate in.
This commitment is driven by the belief in Sri Lanka’s vast potential, which is evident through its abundant natural resources, skilled workforce, thriving tourism industry, and developing infrastructure. Coca-Cola’s investments in the country have already started making a positive impact, and here’s why the company remains optimistic about Sri Lanka’s future.
Natural resources – a boon to tourism and operational excellence in businesses
Sri Lanka’s rich natural resources serve as a catalyst for both tourism and operational excellence in businesses. With diverse wildlife reserves, stunning coastlines, and picturesque landscapes, the country attracts tourists from the UK, India, and Europe, creating opportunities for eco-tourism services and demand for accommodation, food, beverages, and unique offerings.
As a global beverage brand, Coca-Cola is well-positioned to serve and refresh these tourists, but its role goes beyond that. The company actively collaborates with partners and volunteer networks to preserve ecologically rich sites, combat pollution, and minimize waste, enhancing the experience for both tourists and locals.
Additionally, Sri Lanka’s natural resources offer opportunities for investing in clean and cost-efficient renewable energy, such as solar power. Embracing renewable energy sources has already improved Coca-Cola’s operations, contributing to the local economy and global environmental preservation efforts.
Fast Developing Infrastructure
Following the end of the ethnic conflict, Sri Lanka has experienced a significant infrastructure boom that has attracted investors worldwide. Upgraded seaports, international airports, and better roads and highways have facilitated economic growth and made it more convenient for tourists and businesses to travel within the island. This improved infrastructure has made Sri Lanka an appealing destination for global brands looking to expand their operations in South Asia, with enhanced transportation networks making it easier to import and export goods.
Skilled Workforce – the driving force behind Sri Lanka’s progress
Sri Lanka’s highly skilled and adaptable workforce, proficient in English, makes it an attractive destination for global businesses. Colombo, in particular, employs over 80,000 people in the IT and BPM industry, with a low attrition rate and a rapidly growing labor force. The city’s cost competitiveness and lower wage pressures compared to other sourcing destinations make it an ideal location for businesses aiming to optimize their operations. Coca-Cola recognizes the potential of Sri Lanka’s workforce and seeks to empower it through direct and indirect employment opportunities, including related industries such as plastic recyclers and waste collectors.
Strategic Location
Sri Lanka’s location has long been recognized as a key advantage for businesses expanding their regional reach. Its position at the crossroads of major shipping routes connecting the East and West provides easy access to regional markets. This makes it a highly attractive destination for trade and investment. With its proximity to major ports, Sri Lanka has become a hub for shipping and airfreight services, enabling companies to transport goods quickly and efficiently.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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