Business
Sri Lankan ambassador to Viet Nam in warm discussion with leading Southeast Asian EV manufacturer
The Sri Lankan embassy in Viet Nam had a meeting with the top-most management of the iconic automobile manufacturer, Vinfast, at the latter’s corporate head office in Ha Noi to discuss and explore commercial and investment opportunities, thus benefiting both Sri Lanka and Vinfast.
Vinfast is under parent company, Vingroup, one of the largest listed corporates in South-East Asia. Ambassador Dr. A. Saj U. Mendis along with the Minister Commercial, Ms. Kishani Wickramasinghe, met with Vingroup chief of International and Government Affairs cum Vinfast Deputy CEO, Ms. Bui Kim Thuy, along with the senior management of Vinfast. The meeting lasted over an hour and discussed a myriad economic, commercial and trade opportunities.
Vinfast is one of the very few auto manufacturers specialized in manufacturing electric vehicles (EVs) as well as other conventional vehicles. Being one of the largest auto manufacturers not only in the region but in the world, when Vinfast was listed on the US stock exchange, Nasdaq, in August, 2023, the price of shares soared to make Vinfast the second most valuable auto company in the world just behind that of Tesla, yet another EV manufacturer.
Market capitalization of Vinfast in August 2023 was higher than the combined market cap. of both General Motors and Ford of the US as it exceeded USD 110 billion or over 25% of the total GDP of Viet Nam. During the recent past, Vinfast, which is highly aggressive in expanding and penetrating new markets, is in the process of investing USD 4 billion in the state of North Carolina in the US on a state-of-the-art manufacturing facility and USD 500 million in the Chennai in India as well as has investment propositions to commit USD 1.2 billion in Indonesia respectively.
Dr. Mendis and Deputy CEO of Vinfast at the Vinfast showroom exchanging mementos
Ambassador Mendis commended the achievements and attainments of Vinfast of Vingroup stating that today Vinfast has basically become a household name mostly in Asia as well as in other countries. Vinfast produces around 300,000 vehicles per year and has the potential to produce one million vehicles. Dr. Mendis stated to Deputy CEO, Ms. Thuy, to consider Sri Lanka favorably, to have commercial operations such as outsourcing, manufacturing or assembly plant, thus facilitating and ensuring the smooth functioning of the global supply chains as well as complementing the manufacturing facilities of Vinfast.
Further, ambassador Mendis listed out the compelling and appealing factors and attributes of Sri Lanka in order to be considered as an investment destination as well as to be engaged on commercial activity as pertinent. For all record purposes, Vinfast has one of the most advanced state-of-the-art manufacturing facilities in the entire region. Dr. Mendis impressed upon and accentuated to Deputy CEO, Ms. Thuy, that given the number of FTAs and trade agreements Sri Lanka has as well as the strategic location with easy access to Central & South Asia and Middle-East, among other incentives, Sri Lanka would be an ideal and quintessential location for commercial and economic activity for Vinfast.
(Sri Lankan embassy in Ha Noi )
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.”
US sports envoys to Lanka to champion youth development
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