Business
Hambantota International Port Group signs MOU with Chinese automotive giant
The Hambantota International Port Group (HIPG) signed a Memorandum of Understanding (MoU) with Xiamen King Long United Automotive Industry Co., Ltd (King Long) in Fujian China, last week.
This is a direct result of the investment promotion in Fujian, led by the Sri Lankan Ambassador in China Dr. Palitha Kohona and HIPG’s investment promotion team headed by Justin Zhang, General Manager, Port Investment Services.
Established in 1988, Xiamen King Long United Automotive Industry Co., Ltd., manufactures large and medium sized buses, coaches and vans. With three large manufacturing bases, King Long’s products have been exported to over 140 countries and regions worldwide and is ranked among the top 10 automobile brands in China.
Vice President of King Long Motor Group, Zhang Bin said, “we can fully take this good opportunity to further discuss the possibility regarding local assembly factory in HIPG industrial park. With the Hambantota Port being so strategically located, we would be able to reach newer markets in South East Asia .”
Johnson Liu, Chief Representative of China Merchants Group in Sri Lanka and CEO of HIPG said the collaboration with the Sri Lankan Embassy in China and the efforts by Ambassador Kohona is an important link in bringing investment to Sri Lanka.
“We are exploring many other avenues in promoting investment and our investment promotion team is working very well with the Sri Lankan Embassy in China. We believe there is great synergy to be achieved between China and Sri Lanka trade. The Hambantota Industrial Park is being promoted globally and it is our goal to have a vibrant international investor community operating within the zone.”
The signing of the MoU took place at the King Long offices in Xiamen city, with the HIPG team and the Sri Lankan Ambassador attending. Speaking at the ceremony the Ambassador said that Sri Lanka and China have maintained stable economic relations with each other and the world.
Enterprises investing in Sri Lanka will be able to enjoy multiple tax incentives, and the benefits arising from Sri Lanka’s free trade agreements, and preferential treatment such as, GSP plus.
“Sri Lanka welcomes Chinese high end manufacturing facilities setting up in Sri Lanka and commend King Long for choosing the Hambantota International Port Group’s Industrial Park to expand its regional footprint. No doubt this strategic partnership will be of great benefit to King Long, HIPG and the Sri Lankan economy.”
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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