Business
Inclusive and Sustainable Enterprises to be promoted for Sustainable Development in Sri Lanka
The Sustainable Development Council, in collaboration with the Trade, Investment, and Innovation Division of the United Nations’ Economic and Social Commission for Asia and the Pacific (UNESCAP), aims to develop a practical and effective strategy to advance inclusive and sustainable enterprises in Sri Lanka to accelerate Sri Lanka’s progress on the Sustainable Development Goals (SDGs).
An exploratory mission by UNESCAP took place from June 26th to 29th, with the purpose of evaluating priorities related to establishing a private sector strategy for sustainable development in Sri Lanka. The mission also focused on specific initiatives such as Inclusive Business interventions in specific industries and social enterprise models.
Throughout the mission, consultations were conducted with key government agencies, including the Offices of the President and Prime Minister, as well as the Ministries of Industries, Agriculture, Finance, and Environment. Additionally, discussions were held with entities such as the Board of Investment, Central Bank, Export Development Board, Sri Lanka Accreditation Board, prominent business chambers, and industry associations, including the Ceylon Chamber of Commerce, Colombo Stock Exchange, UN Global Compact, Biodiversity Sri Lanka, Sri Lanka Banker’s Association, Finance Houses Association, Joint Apparel Association Forum. International Development Partners, including the UNDP, ADB, ILO, UNIDO, WHO, IOM, JAICA, Embassy of Japan, European Union, and technical agencies such as the SLYCAN Trust, Verite Research, Chrysalis, National Cleaner Production Centre were also consulted.
To achieve inclusive and sustainable development, it is crucial for the private sector to play a more significant role in supporting the country’s development objectives. This sector is instrumental in providing innovative solutions on a large scale to address pressing challenges, including the current “triple crisis” in food, energy, and finance. Moreover, it can contribute to mitigating the on-going impact of climate change and promoting inclusive and sustainable growth.
Inclusive enterprises offer commercially viable goods, services, and livelihood opportunities to individuals with low incomes. They contribute to poverty reduction efforts while fostering economic growth and diversification. Sustainable enterprises adopt practices that prioritize environmental sustainability in their operations, embrace circular business models, and address climate change and the green transition through their products and services.
Recognizing the significant role of inclusive business in driving social impact at scale, numerous governments have begun implementing strategies to promote it. For instance, ASEAN member states adopted the ASEAN Inclusive Business Framework in 2017, followed by the Guidelines for Promoting Inclusive Businesses in ASEAN in 2020. Governments can facilitate the emergence and success of inclusive businesses by implementing policies that raise awareness of these business models, provide targeted incentives, and offer services and investments that enable firms to develop inclusive business models.
Across Asia and the Pacific, particularly in the agribusiness sector, there are several valuable examples of inclusive business models that are commercially viable and have a substantial social impact. Sri Lanka already showcases numerous successful models of inclusive and sustainable business developed and implemented by the private sector, which should be scaled up.
Drawing upon UNESCAP’s extensive experience in promoting inclusive and sustainable enterprises throughout the Asia Pacific Region, including in India, Cambodia, Vietnam, and Thailand, it is anticipated that a White Paper will be produced to promote inclusive and sustainable business models that support the country’s sustainable development trajectory.
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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