Business
COYLE explores collaborative opportunities with Chinese embassy
In a recent dialogue, COYLE (Chamber of Young Lankan Entrepreneurs) expressed its interest in fostering closer ties with the People’s Republic of China, and sought Chinese support to help drive an economic recovery in Sri Lanka. The conversation, which involved plenty of back and forth, with both sides presenting their views and concerns, centred around avenues for collaboration, particularly focusing on business delegations and opportunities for mutual growth.
The ambassador of China, Qi Zhenhong, shared insights into the existing channels of cooperation between COYLE and the embassy. Emphasizing the embassy’s role as a vital contact point, Qi Zhenhong highlighted ongoing cooperation with organizations such as EDB (Export Development Board) for exhibitions and trade fairs in China. The ongoing projects in the North, particularly by Chinese company, Paragon, were highlighted, demonstrating China’s confidence in and commitment to Sri Lanka. However, some concerns were also discussed, with both parties agreeing to work together in the future.
Highlighting tourism, COYLE discussed the potential for expansion of China’s tourism presence in Sri Lanka compared to the pre-covid numbers as well as other regions presently. However, the Ambassador pointed out that significant growth of Chinese tourism in the country was already underway. He emphasized that China has ascended to become the third-largest tourist origin for Sri Lanka, surpassing Russia and Ukraine. However, Ambassador Zhenhong stressed the need for more concerted efforts, on the part of Sri Lanka, to promote the Island as a travel destination to China and the rest of the world, highlighting the nation’s welcoming environment and natural attractions.
Against the backdrop of global economic uncertainties, the ambassador conveyed China’s strategic confidence and strategic determination. The conversation also delved into the status of the Central Expressway construction project. The ambassador acknowledged delays were attributed to economic challenges and the need for further foreign investment into Sri Lanka.
He shared that assessments from the International Monetary Fund (IMF) were pivotal factors influencing the project’s progression.
Lastly, the discussion touched on the responsibility of borrowing parties to manage funds better with credibility and efficiency. While COYLE expressed Sri Lanka’s hope for continued Chinese support, the Chinese officials emphasized the need for borrowers to take responsibility in terms of utilization of funds. It was made clear that Chinese investments were made with the intention of infrastructure development and not “debt trapping”, however, Sri Lanka failing to utilize funds correctly had resulted in certain challenges, compounded by changes on the political front and global issues such as the pandemic.
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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