Business
‘Port City Colombo makes progress in attracting key investments’
Port City Colombo, a multi-service Special Economic Zone (SEZ) and a regional financial centre and business hub, has made significant progress in capturing key investments, as the project gears up for a tenacious drive to attract prospective land development and business set-up investors from the South Asian, APAC, and Middle Eastern regions before the end of 2024, a Port City Colombo press release said.
The release added: ‘With a strong emphasis on capturing high-value Foreign Direct Investments, Port City Colombo has on-boarded approximately forty-one companies registered as Authorised Persons (AP’s), as approved by the Colombo Port City Economic Commission. Fifty-two percent (52%) of the project’s Marina District, which includes South Asia’s first-ever luxury yacht marina and 5-star hotel, has further already attracted investment. Reputed international and local corporate entities, including Asiri Port City Hospital (Private) Limited, TIQRI, CODEGEN INNOVATIONS, 99x Technology AS, IVIVA PTE Ltd, Echelon Trade (Pvt) Ltd, and Port City BPO (Pvt) Ltd, have been additionally designated as Businesses of Strategic Importance.
‘Approximately more than twenty prospective investors are presently in the pipeline to register as Authorised Persons, demonstrating strengthened confidence in Port City Colombo’s positive outlook as a competitive regional investment hotspot.
‘Positioned within the Colombo Port City Special Economic Zone, Port City Colombo presents a low-risk financial environment that enhances the ease of doing business for global investors in Sri Lanka, whilst being economically ring-fenced against domestic macroeconomic challenges. This visionary FDI investment destination also showcases a thriving commercial ecosystem and liveable master-planned city, enabling a diversity of businesses to set up operations against the backdrop of transactions in 16 different international currencies with no capital or exchange controls, 100% foreign ownership, and fiscal incentives for 25 plus years.
‘Port City Colombo provides investors two primary options of investment: land development investments, which include residential and commercial property development, and business set-up and investments, which encompass a variety of opportunities in IT/ITes, financial services, hospitality/tourism, logistics, and so forth. Commercial entities, who are interested in investing or setting up business operations, are required to become qualified as an Authorised Person, which is defined as any individual or entity permitted by the Colombo Port City Economic Commission (CPCEC) to conduct business within the vicinity and from the area of authority of the Colombo Port City Special Economic Zone.
‘As Port City Colombo progresses forward with its vigorous AP and BSI drive, the project aims to fulfil the ambition of transforming Sri Lanka into an attractive global investment destination, whilst emulating the successful international economic models of Dubai and Singapore. For more information about our investment opportunities, please visit www.portcitycolombo.lk. ‘
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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