Business
Commonwealth Enterprise and Investment Council chairman Lord Marland’s Sri Lanka visit a resounding success
Commonwealth Enterprise and Investment Council (CWEIC) Chairman Lord Marland concluded a successful 3-day visit to Sri Lanka as part of a larger trip to South and South East Asia. The visit presented a significant opportunity to foster further ties between the government, business sector, and the CWEIC.
CWEIC is a commercial, not-for-profit membership organisation with an official mandate from the Commonwealth Heads of Government to facilitate trade and investment throughout the 56 Commonwealth member nations. CWEIC has multiple Strategic Partners (members) in Sri Lanka including Port City Colombo, Capital Maharaja Group, Hypower Engineering International, and LOLC Holdings from the Private sector. In 2023, the Government of Sri Lanka rejoined as a Strategic Partner. Lord Marland’s visit showcased promising opportunities for international investors, particularly in Sri Lanka’s vibrant hospitality, energy, and financial service sectors.
During the visit, Lord Marland engaged in productive discussions aimed at unlocking the immense potential for mutual growth and prosperity and he emphasized that the Commonwealth is a platform for collaboration and economic opportunity. With over 2.5 billion people and a combined GDP exceeding $13.1 trillion, the Commonwealth boasts 56 member states, including some of the world’s fastest-growing economies. This global network offers Sri Lanka a pathway to forge deeper partnerships worldwide. Moreover, a combination of cultural, legal, and economic factors means that it is 21% cheaper for Commonwealth countries to trade with one another, an effect known as the ‘Commonwealth Advantage’, which further offers Sri Lanka opportunities for growth.
During the meetings with President Ranil Wickremesinghe and State Minister of Investment Promotion Dilum Amunugama, the CWEIC reaffirmed its commitment to support the government as part of the Strategic Partnership. Furthermore, Lord Marland extended a formal invitation to President Ranil Wickremesinghe to participate in the Commonwealth Business Forum, which is one of the four official Forums that are convened alongside the Commonwealth Heads of Government Meeting in October in Samoa.
Minister Dilum Amunugama is due to visit London in March as part of the Ministry of Investment Promotion’s investment drive. During the visit, CWEIC will convene Strategic Partners and stakeholders keen on investing in Sri Lanka for a roundtable discussion. Lord Marland also held a meeting with British High Commissioner Andrew Patrick during which he was informed of the way the United Kingdom is engaging in Sri Lanka and key priority areas such as renewable energy and education.
Port City Colombo (PCC) also hosted a special networking event with Lord Marland at the Port City Colombo Sales Gallery. This event served as a prime opportunity for PCC to showcase its upcoming investment opportunities, with Lord Marland expressing strong support for PCC’s investment promotion efforts. Minister Dilum Amunugama and various dignitaries were also in attendance. In his address, Lord Marland praised Sri Lanka’s resilience, hospitality, and entrepreneurial spirit, highlighting its current economic growth of 1.6% and positioning Sri Lanka as ‘a nation on the move’.
Throughout his discussions and media interviews, Lord Marland pointed out that Sri Lanka has been one of the cornerstone countries of the Commonwealth when it was founded after independence and has always been very active within the Commonwealth. He discussed the Commonwealth’s role in Sri Lanka’s economic recovery and the work of CWEIC and spoke of various key priorities for the Commonwealth, such as balancing the energy transition with economic development, as well as the role of the private sector in driving such sustainable economic growth. He elaborated that given Sri Lanka’s proximity to Commonwealth nations in South Asia, there is great potential to build on existing channels to expand into those markets. He also noted that Sri Lanka has got huge possibilities in Africa with its 1.4 billion population, 70% of who are under the age of 30.
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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