Business
‘There is a business case for employer- supported childcare’
Across the globe, there has been a renewed commitment to expand early years’ services for children under five years of age. Early Childhood Care and Education (ECCE) includes both education and childcare, and while they have traditionally occupied distinctly different spheres, there has been a growing trend to integrate the two to provide more efficient and effective ECCE services for families.
In Sri Lanka, the government provides free access to compulsory primary and secondary education, but not to preschool education which is not mandatory. 70.8 percent of preschools and 78 percent of day care centers are privately operated and entail levy fees, thus reducing access and affordability for a sizeable segment of the population. Enrolment rates in primary and secondary education are high at 99 percent and 84 percent respectively. These rates were 56.6 percent in 2016 for preschool children between 3-5 years of age.
Access to affordable childcare directly affects the country’s labor force. It is worth noting that despite the high educational attainment of Sri Lanka’s women, the country’s female labor force participation rate was just 34.5 percent in 2019. A 2018 study by the International Finance Corporation (IFC) found that having a child under five years of age reduced a Sri Lankan woman’s participation in the labor force by 7.4 percent as compared with a woman who did not have young children.
What’s more, as Sri Lanka’s population ages—it has the most rapidly aging population in South Asia—family structures and gender roles change. Reduced support from the extended family is likely to leave families less able to care for young children at home, increasing their demand for childcare.
The good news is that employer support for childcare is growing. However, it does not reach parents who work in the informal sector, which in 2019 accounted for 57.4 percent of all workers.
Since 2000, successive governments have recognized the need to invest in early years services. The country has traditionally delivered these services through a multisectoral approach, with the involvement of several key ministries led, until August 2020, by the Ministry of Women and Child Affairs and Social Services (MWCASS). In addition, provincial authorities also have the power to pass legislation for the management and supervision of preschools in their provinces.
The involvement of multiple stakeholders and the lack of clarity in administrative structures has posed a major challenge for the ECCE sector. It has led to inadequate policy coherence, impacted resource allocation, and resulted in a duplication of functions. This has made it difficult to enforce uniform standards and regulations, particularly concerning the regulation of and coordination with the private sector.
In January 2020, the Sri Lankan cabinet approved a national Policy on Preschool Education tabled by the Ministry of Education (MoE). Following the parliamentary elections in August 2020 and the reorganization of ministerial mandates, ECCE was brought under the purview of the MoE, and the MWCASS was named as the State Ministry of Women and Child Development, Preschool and Primary Education, School Infrastructure and Education Services (SMWCDPPESIES). Discussions surrounding the details of this reorganization are currently underway.
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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