Business
‘Port City Colombo SEZ project has attracted USD 1.3 billion FDI since inception’
Since its inception, the Port City Colombo SEZ project had attracted USD 1.3 billion in foreign direct investment without imposing any liability or cost on the Sri Lankan government, COO, Colombo Port City Economic Commission Revan Wickramasuriya said.
A press release said in this connection: ‘Port City Colombo (PCC), the ground-breaking infrastructure project aimed at reshaping Sri Lanka’s economic landscape, celebrated a momentous milestone as its infrastructure development phase nears completion and commercialization is set to begin. The occasion was marked by a moment of unity with a multi-religious ceremony, invoking blessings on the nation and the project’s success. The Sales Gallery of Port City Colombo was adorned with a commemorative plaque, symbolizing the project’s progress and transformative impact, with the theme, “Bridging Boundaries, Limitless Possibilities”.
‘Mahinda Yapa Abeywardana – Speaker of the Parliament, Ministers and Members of Parliament, Governor of the Central Bank of Sri Lanka, Members of the Monetary Board, Secretary to the Ministry of Investment Promotions, ambassadors and representatives from foreign missions in Sri Lanka were among the dignitaries gracing the occassion, highlighting the collaborative efforts and unwavering commitment of all stakeholders involved in this pivotal economic and infrastructure development initiative.
“The 269 hectares of reclaimed land is 100% owned by the government of Sri Lanka and has already contributed approximately USD 3 to 4 billion to the GDP, creating over 12,000 direct jobs and providing training for more than 4,000 Sri Lankan workers across over 20 Sri Lankan sub-contractors”, emphasized Revan Wickramasuriya, Chief Operating Officer of the Colombo Port City Economic Commission.
‘Looking ahead, the next phase of the Colombo Port City, the Construction Stage, is about to commence and is expected to attract over USD 14 billion of investment. This phase will result in approximately USD 4.1 billion in locally sourced labour and materials, generating over 450,000 employment opportunities, of which over 400,000 will be for Sri Lankans. The estimated contribution to GDP from the Construction Stage alone is projected to reach USD 24 billion.
‘Once fully operational, Port City Colombo, as the country’s single largest development and foreign direct investment to date, is poised to contribute USD 13.8 billion annually to Sri Lanka’s GDP, offering over 140,000 direct employment opportunities.
In his concluding remarks, Wickramasuriya affirmed that Port City Colombo is ready for business as the region’s first multi-currency, export of services Special Economic Zone, with the Colombo Port City Economic Commission acting as its single-window investment facilitator. This framework ensures a conducive operating environment and streamlined business procedures for both local and foreign investors.
‘Port City Colombo represents a visionary endeavour with ambitious objectives to foster global investments, spur innovation, and create new employment opportunities, ultimately enhancing Sri Lanka’s competitiveness on the international stage. Situated strategically along the Western Coastline and neighbouring the heart of Colombo, PCC encompasses a sprawling 269-hectare area of reclaimed land, featuring a pristine waterfront and meticulously planned urban spaces. The ongoing construction progress exemplifies the project’s momentum, and upon completion, Port
‘City Colombo will present a vibrant fusion of residential, commercial, and recreational zones, catering to the diverse needs of residents and visitors.
‘The recent plaque unveiling ceremony signifies a significant juncture in PCC’s evolution, marking its emergence as a hub that celebrates progress and promises a transformative impact for Sri Lanka. PCC aspires to become a world-class business and lifestyle destination, leveraging its strategic location, extensive land area, and state-of-the-art infrastructure. By attracting global investments and fostering economic diversification, Port City Colombo is poised to redefine Sri Lanka.’
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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