Business
Vietnamese Central Bank Governor compliments SL on economic improvements
Governor of the Central Bank of Vietnam, the latter also known as the State Bank of Vietnam (SBV), Mdm. Nguyen Thi Hong, expressed optimism and voiced encouraging sentiments on the improvement of the economy of Sri Lanka, during the last 12 months, when the ambassador of Sri Lanka to Vietnam, Prof A. Saj U. Mendis, met her at the head office of the SBV.
Both the Governor and envoy discussed in detail micro and macro-economic issues and policies as well as monetary and fiscal policies implemented and executed by Vietnam, resulting in Vietnam attaining unprecedented economic growth during the last couple of decades.
A press release issued by the Sri Lankan embassy in Vietnam said: ‘Governor Hong, was one of the three Governors of Central Banks who were chosen by the prestigious “Global Financial Magazine” as the most effectual and competent Central Bankers in the world.
Ambassador Mendis complimented, both during the meeting as well as in writing, on this achievement, which reflected and manifested the efficacious and result-oriented policies executed by the Central Bank i.e. SBV. On the same note, Governor Hong conveyed the best wishes to the Governor of the Central Bank of Sri Lanka (CBSL), Dr. P Nandalal Weerasinghe, who was also selected by Global Financial Magazine as one of the best and competent Central Bankers in the world.
‘Governor Hong noted that Sri Lanka succeeded in reducing inflation from 65% to 5% within a space of 12 months as well as marked reduction of interest rates, increase of official foreign reserves and stabilizing of national currency of Sri Lanka.
Mendis stated that Vietnam, today, has become one of the fastest-growing economies in the world, thus being noted by major advanced economies and large multinational corporates world over.
‘Mendis added that a Central Bank of any nation, be developed or developing, plays an influential and seminal role in navigating and steering the economy.
That said, Vietnam which had a GDP per capita of only USD 90 in 1990s, today has risen to USD 4,450 as well as bilateral trade exceeding USD 730 billion, including exports of over USD 370 billion in 2022. Vietnam maintains economic and political stability with highly impressive economic indicators, such as inflation, interest rates and unemployment, among others.
‘Prof Mendis also stated that the SBV was pivotal and decisive in creating a milieu for foreign investors, corporates and FDI to flow into the country, since Vietnam received FDI in excess of USD 20 billion in 2022 and envisaging FDI of around USD 30 billion in 2023.
Some of the largest corporates, which are household names, have committed significant investments and FDIs in Vietnam amounting to a total FDI stock of USD 450 billion.
‘Both, the Governor and envoy, agreed that one of the determining and deciding factors of this iconic feat of the economic augmentation of Vietnam was the FTAs and Partnership Agreements it has with a number of key and select countries, numbering 17.
Envoy Mendis also stated that Sri Lanka too has FTAs with major countries in South Asia as well as in the process of concluding a number of FTAs with select countries in order to increase exports and woo FDIs and foreign institutional investments, among others.
Both the Governor and Envoy discussed policies and measures which have led to economic advancement and augmentation of countries, including Vietnam, among others.’
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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