Business
‘Wide-ranging investment opportunities at Port City Colombo’
Many opportunities are available to a broad spectrum of investors as Port City Colombo comes into fruition, given the strategic location, business friendly policies and the outstanding infrastructure that is under development, Sir Hugo Swire, Deputy Chairman, Commonwealth Enterprise Investment Council (CWEIC) said.
A press release said in this connection: ‘An investor event showcasing the Port City Colombo Special Economic Zone was held at the High Commission of Sri Lanka in the United Kingdom on 26th April 2022. It was organized by the Project Company, CHEC Port City Colombo (Pvt) Ltd in association with the High Commission and the Commonwealth Enterprise and Investment Council (CWEIC), in which the Project Company is a Strategic Partner.
‘High Commissioner Saroja Sirisena pointed out that Sri Lanka has maintained long-standing strong linkages with the United Kingdom particularly in areas such as education; welcoming a diverse group of participants comprising corporate leaders, high net worth individuals, and private equity investors. Sir Hugo Swire, Deputy Chair of the CWEIC, highlighted that the Port City offers many prospects for Sri Lanka to significantly benefit from trade and internationalisation, aiding an early recovery from the prevailing economic circumstances in Sri Lanka.
‘The purpose of the event was to create awareness of the Multi-services Special Economic Zone established by the Colombo Port City Economic Commission Act No. 11 of 2021 in May 2021. Thulci Aluwihare, Assistant Managing Director of CHEC Port City Colombo, in his presentation highlighted the numerous business-friendly provisions in the legislation that augments the ease of doing business in Sri Lanka. While inviting investment to Port City, Aluwihare also elaborated on the opportunity for Port City to collaborate with the Board of Investment (BOI) in an effort to revive the Sri Lankan economy by attracting Foreign Direct Investments to the manufacturing and services sectors.
‘Aluwihare emphasized the need to reinforce Sri Lanka’s commitments towards investor protection in this difficult economic situation and highlighted the relevant legal provisions affording investor protection as per the newly enacted Colombo Port City Economic Commission Act. He emphasized the need for Port City to be economically ring-fenced to insulate businesses and investors from macro-economic challenges of the domestic economy. It is important to instill Investor confidence and regulations are currently being drafted by the Colombo Port City Economic Commission to assert this position, he said.
‘Dr. Harsha Alles, Chairman of the Gateway Group, who has entered into a Memorandum of Understanding with the Colombo Port City Economic Commission and CHEC Port City Colombo to facilitate the development of a state-of-the-art international school in Colombo, shed light on the rigorous process followed in this regard, assisted by Oxygy – education advisors in the UK. He indicated that while many esteemed schools in the UK have expressed interest in setting up Port City, the objective of the investor consortium is to select the institution that offers the most holistic student experience. He invited the participating investor community to join the investment consortium pioneering the entry of a renowned UK-based education brand’s entry into South Asia.
‘As a landmark development project in Sri Lanka, Port City Colombo will continue to invite investment from across the world to augment the economic recovery of Sri Lanka. CHEC Port City Colombo will embark on a series of investor events across the region over the coming months to highlight the investment opportunities on offer.’
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.”
US sports envoys to Lanka to champion youth development
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