Business
Webinar on economic cooperation between Sri Lanka and South Korea
The embassy of Sri Lanka in the Republic of Korea in close coordination with the Ceylon Chamber of Commerce (CCC), Korea Importers Association (KOIMA), Korea Business Council and the embassy of the Republic of Korea in Colombo conducted a webinar, last week, with particular focus on business opportunities and vistas, strategies to enhance bilateral trade particularly exports of goods and services of Sri Lanka to South Korea, investment and commercial opportunities and tourism, among others.
The key speakers were the ambassador of South Korea in Colombo Amb. Jeong Woonjin, chairman & CEO of KOIMA Kwang-hee Hong and Senior International Director of KOIMA Joong-hyun Jough, Chief Economist of CCC Shiran Fernando, president of Sri Lanka-Korea Business Council Priyantha Mendis and ambassador of Sri Lanka to Seoul Dr. A. Saj U. Mendis respectively. Ms. Lilakshini de Mel, Senior Assistant Secretary General of the CCC, coordinated, orchestrated and publicized all spheres of this high-profile webinar along with the two embassies and KOIMA.
A number of noted corporates, entrepreneurs, business houses, senior bureaucrats and technocrats and academics mostly from Sri Lanka as well as from South Korea participated in this Webinar. The president of Sri Lanka-Korea Business Council made the opening welcome remarks, while Shiran Fernando of CCC, introduced the respective speakers of the webinar as the moderator.
Ambassador Jeong Woonjin stated that being in Sri Lanka for only two months, he could witness at first-hand basis the potential and vistas of the country, particularly in the context of the manner in which the general elections were conducted on 5th of August 2020 as well as efficacious containment of COVID-19. He accentuated two key factors, which were trust and confidence of the peoples of Sri Lanka and of the international community vis-à-vis Sri Lanka. He further enunciated a very positive and sanguine message of Sri Lanka, particularly to Korean corporate leaders and entrepreneurs to be engaged with Sri Lanka.
The chairman of KOIMA expounded the goods and services imported to the RoK and ways and means to enhance and aggrandize the exports of Sri Lanka to the RoK, in particular. It may further be noted that the KOIMA is the focal Institution in the entire country with regard to imports to the RoK similar to the BOI of Sri Lanka with regard to FDI and FII. The Senior Director of International Affairs of KOIMA made a comprehensive presentation which encompassed opportunities in the import sector of South Korea.
Ambassador Dr. A. Saj U. Mendis stated the courses of action Sri Lankan corporates and entrepreneurs should implement and execute in order to capture and penetrate the highly competitive Korean market, thus enhancing the exports to South Korea. He added that today South Korea is the 9th largest economy in the world and in 1960s was one of the poorest nations in the world. He added that the imports of South Korea in 2018 were in the vicinity of USD 530 billion and if Sri Lanka could capture, only 0.1%, it would amount to USD 530 million. This would be an increase of over 700% compared to the exports from Sri Lanka to the RoK in 2019. Dr. Mendis also added that 50% of Sri Lanka’s exports to the RoK comprised of apparels, coconut and rubber products and tea and accentuated the vitality and seminality to diversify the export basket.
(The embassy of 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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