Business
SLAEA president encourages foreign investment in sustainable fabric manufacturing at Shanghai conference
The Sri Lanka Apparel Exporters Association (SLAEA) participated in the 16th Global Textile and Apparel Supply Chain Conference held in Shanghai, China recently with a focus on innovation and the development of national high-end textile advanced manufacturing clusters.
Representing Sri Lanka at the annual conference, President of SLAEA Indika Liyanahewage spoke on ‘Green dynamics and intelligent empowerment’ with special emphasis on sustainable fabric manufacturing.
“Apparel is a significant industry in Sri Lanka, accounting for 6 percent of our country’s GDP, providing employment to 350,000 individuals,” stated Liyanahewage. “Despite challenges brought about by COVID-19, followed by the economic crisis that led to double-digit inflation, the industry continued business operations.”
Providing an overview of the current state of Sri Lanka’s economy, Liyanahewage noted that with domestic debt restructuring now completed and the second tranche of the IMF being worked on, the country is on the path to stability.
He further emphasized that the country’s apparel sector had placed sustainability and compliance at the core of its agenda, with the majority of its members embracing WRAP, LEED and GOTS certifications. “The sector has over 70 MW of installed rooftop solar power capacity and we continue to invest in renewable energy. We are passionate about sustainability, a commitment that is driven on a top-down approach. A number of apparel manufacturers are truly dedicated to circularity, with many green factories emerging and material recycling becoming an important aspect of our efforts.”
SLAEA also called for further collaboration in fabric manufacturing and innovation. “While most of the yarn and materials are imported from China, the growing demand for organic or recycled fabric necessitates a stronger partnership. The Eravur Fabric Park in the East coast of Sri Lanka will play a pivotal role in this. We invite investors and fabric manufacturers to collaborate, as this will enable faster turnaround times and increase our production capabilities.”
Spanning over 300 acres, the zone offers opportunities for various verticals related to textile manufacturing. Manufacturers can establish plants in the zone and reduce material lead times with locally sourced fabric, thereby reducing input costs. Some of the key incentives for manufacturers include 5-10 year tax holidays for exports, zero percent duties and taxes on imported raw materials, tax exemptions and 100 percent repatriation of profits.
“Sri Lanka’s strategic location in the Indian Ocean is an advantage we must harness,” Liyanahewage stressed.
The 16th Global Textile and Apparel Supply Chain Conference had the participation of high-ranking officials from the Chinese government and key stakeholders in apparel manufacturing including fabric, yarn, trims suppliers and apparel manufacturers from around the world. The three day event also witnessed the appointment of an expert committee for high-end textiles.
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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