Business
Controversy on new recruitment to BOI
Following a controversy erupted among the employees of The Board of Investment (BOI) upon recruiting professionals from the private sector to a so-called specialised unit with high-pay, some of whom they say are less qualified than existing employees, the BOI sent the following press statement to the media last week.
It said: The initiative is based on recommendations made by a Committee headed by the Secretary to the Treasury, and the Cabinet of Ministers already granted approval to recruit professionals on contract basis to selected positions identified and for the formation of a special unit in BOI.
“Professionals who would be recruited to this unit would need to possess deep business knowledge, international exposure, and a proven track record of identified private sector-based industry and domain specific skills, in addition to professional and academic qualifications,” the BOI said in a press release last week.
With the global FDI pool declining by over 40 percent, the BOI reiterated that aggressive and targeted actions are urgently required to secure targeted investments inflows to the country by competing with over 1000 odd IPAs in the world.
“Aggressive and targeted actions of leading international promotion agencies (IPA) around the world have reinforced the need for IPAs to invest strategically in promotion-based activities in order to not only secure a greater share of a contracted FDI, but even to ring-fence investments they already have in pipeline.
Such campaigns should not only be adequately funded, but they must also be professionally executed with a combined public-private sector expertise, if they are to yield exponential results,” it elaborated.
The talent infusion is part of a broader ‘Revamping the BOI’ agenda that is deeply focused on building an enabling, cohesive and globally competitive organization, and a strong public-private partnership.
“Other thrusts actioned already include the secondment of private sector professionals to the BOI for short term exposure programmes and vice versa.
As paperless contact is the way of the future, simultaneous focus on a digitization drive has also been initiated to facilitate a seamless customer experience for all requests received. Accordingly, an online customs documentation system has been actioned along with online payment platforms, with projects underway to introduce an online process for investor project submission and approval as well,” the BOI noted. Meanwhile, the BOI said that it was able to secure projects worth over US$ 2.3 billion in 2020 despite the pandemic-infused challenges.
Commenting on upcoming investment projects, the BOI noted that the dedicated textile manufacturing zone in Eravur would come into operations in September this year after securing the first investment of US$ 35 million while additional investors already on the process of reserving land plots in the zone. “Once operational, the zone will localise a significant quantum of fabric related imports which approximate US$ 2 billion. It will also generate 5000 plus employment opportunities for a region that otherwise ranks high on youth employment relative to the rest of the country,” it added.
The BOI has identified that six thrust sectors which includes manufacturing, ICT, tourism & hospitality, agri & food processing, infrastructure, and other selected services for focus in attracting FDIs, based on its high potential to the country’s economy, the BOI press statement said.
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
Rahuman questions sudden cancellation of leave of CEB employees
