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Vietnam lauded for its assistance to SL

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The senior officials of the Embassy of Sri Lanka in Viet Nam including both the Minister Counsellor, Mahesh Premathilaka, and Ambassador Prof A. Saj U. Mendis met with Tran Sy Thanh, Chairman of the Hanoi People’s Committee and former Deputy Chairman of National Assembly of Viet Nam. The chairman of Hanoi People’s Committee is the apex and extremely influential body focused on the administration and management of the entire city of Hanoi consisting well over seven million residents.

Tran Sy Thanh too has been the Deputy Chairman of National Assembly Office, just before taking over as the Chairman of Hanoi People’s Committee, which is constitutionally the highest Government organization as well as the highest-level representative body of the people of the entire country. The congenial and informative meeting with the Chairman of Hanoi People’s Committee lasted well over an hour at the Head Office Ha Noi People’s Committee.

During the discussion, Ambassador Mendis commended the assistance and cooperation extended to Sri Lanka over the years as well as the support extended to Sri Lanka at a number of multilateral forums including the Human Rights Council. Further, Ambassador Mendis requested to facilitate visas, temporary resident cards and work permits for Sri Lankan expatriates since many of them are eager to live and work in Viet Nam, mostly in the high-skilled and professional disciplines. While Tran Sy Thanh and his delegation, consisting senior officials from the Ministries of Foreign Affairs, Culture and Tourism, agreed to look favorably on the aforementioned issues given the most affable and close relations of the two countries, Tran Sy Thanh also broached the idea of having an MoU between Ha Noi and a select major city in Sri Lanka such as Colombo or Kandy, thus further widening the relations in all aspects.

Both Tran Sy Thanh and Prof Mendis discussed and explored myriad of ways to further strengthen, deepen and elevate the relations between the two countries with particular focus on economic, investment and commercial activity. In this context, Tran Sy Thanh stated that direct connectivity between Hanoi/Ho Chi Minh city and Colombo would markedly and significantly increase not only the two-way tourism but also economic activity in all spheres and provinces. Prof Mendis stated that Viet Nam had over 13 million Vietnamese nationals travelling out of Viet Nam, mostly to ASEAN countries, Japan, China and South Korea as well as to other countries. He added if Sri Lanka could attract just a meager percentage of 0.2% of the Vietnamese overseas travelers, this figure would translate to 26,000. On the same note, Mendis stated that Sri Lanka has been chosen as amongst the five most desired and sought-after touristic destinations in 2018/2019, before the COVID pandemic, by well noted travel and tourism magazines as well as electronic media including but not limited to Lonely Planet, National Geographics, BBC Good Food and CNN.

Tran Sy Thanh too stated that the economic, investment and commercial potential the two countries have are yet to be exploited and unleashed. Further, both the Chairman and Ambassador added that Viet Nam has become a nation which attracts 8% of the GDP as foreign direct investments, which is one of the highest in any given nation, since Viet Nam received USD 21 billion in 2022 and anticipating USD 32 to 34 billion in 2023 respectively. With regard to trade, Viet Nam is one of the largest trading nations in the world ranked as the 15th largest with a bilateral trade of USD 732 billion last year. This includes imports amounting to over USD 350 billion. Mendis did highlight that the total bilateral trade between the two countries is in the vicinity of less than USD 300 million with a large trade deficit on Sri Lankan side. The chairman of Hanoi City, Tran Sy Thanh, stated that his office would efficaciously implement and address the propositions and ideas with the embassy of Sri Lanka in Hanoi, which were expressed by Prof Mendis.

Sri Lankan embassy in Vietnam



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Three Sinha Industries wins award for excellence at SLIA

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Managing Director Manjula Ariyakumara receiving the award

Three Sinha Industries Pvt. Ltd. has been recognised with the Award of Excellence at the Sri Lanka Institute of Architects (SLIA) Annual Product Awards, held recently in Colombo. The award was presented for the company’s high-quality, fire-resistant doors, which are made using locally sourced materials and designed to meet the highest safety standards. The award ceremony was held recently in Colombo, and Managing Director Manjula Ariyakumara accepted the award on behalf of the company, marking yet another milestone in Three Sinha’s journey of excellence.

From its establishment as a small-scale business, Three Sinha has grown into a trusted name in Sri Lanka’s construction industry. The company has built a strong reputation for its commitment to quality, innovation, and reliability, earning both local and international recognition. Over the years, it has received several certifications for maintaining top-tier quality standards. Three Sinha has also received many other local and international awards.

Three Sinha Industries offers a diverse range of products and services, including roller doors, shutters, and fire-resistant doors that provide enhanced safety and durability. The company also specialises in aluminum fabrications, sensor doors, and automatic barriers, ensuring a comprehensive suite of solutions for the construction sector. Embracing sustainability, Three Sinha has expanded into green energy solutions, offering three types of solar PV electricity systems: on-grid, off-grid, and hybrid. Additionally, its subsidiary, IKLO Industries, focuses on pre-fabricated and pre-engineered steel buildings, incorporating advanced technology to meet modern construction demands. IKLO has also ventured into the agricultural sector by introducing tractor trailers tailored for farming needs. Moreover, the company manufactures high-quality diesel tanks that meet the standards of both the Ceylon Petroleum Corporation and the Indian Oil Corporation.

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Amana Life Insurance Delivers Exceptional Returns to Policyholders in 2024

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Gehan Rajapakse, CEO of Amana Takaful Life PLC

Amana Takaful Life Insurance PLC has once again demonstrated its commitment to delivering unparalleled financial security and growth, delivering attractive returns for long-term policyholders for 2024. As a trusted long-term insurer, Amana Life provides policyholders with the best investment choices, ensuring they can build and secure their financial future with confidence.

This achievement is driven by the company’s diverse, risk-rated investment options, strategically allocated across fixed deposits, bank investments, equity markets, and gold funds. This structure allows policyholders to balance security and growth, selecting funds that align with their financial goals while adapting to market conditions. As the only life insurer in Sri Lanka offering such flexibility, Amana Life empowers customers to optimize their investments while maintaining long-term financial stability.

The review of Funds as of December 31, 2024, demonstrates exceptional returns across all investment avenues, reaffirming Amana Life’s position as the insurer of choice for those seeking the best investment opportunities. The Protected Multiple Fund (PMF), with a Fixed Deposit base of 90% of its fund value, demonstrated steady returns, despite Sri Lanka experiencing interest rate cuts regularly over the past 24 months. PMF produced returns of 18.1% for the said period on an annualized basis while the market rates for Fixed Deposits reached single digits towards the latter part of 2024.

“At Amana Life, we are committed to providing our long-term policyholders with both protection and rewarding investment opportunities,” said Gehan Rajapakse, CEO of Amana Takaful Life PLC. “These results prove that we are not just offering life insurance, but also a well-structured pathway for long-term financial security and growth. However, it is important to note that past returns are not a guarantee of future performance, as market conditions can influence future results.”

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Edward and Christie Acquires 60% Stake in Dolphin Marine Lanka, Expanding into Sri Lanka’s Shipbuilding Industry

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Edward and Christie Pvt Ltd has acquired a 60% stake in Dolphin Marine Lanka Pvt Ltd, marking a significant step in its strategic expansion into Sri Lanka’s growing shipbuilding and repair industry. The acquisition supports the company’s vision of diversifying beyond its core construction business to boost industrial growth in the country.

To commemorate the move, Dolphin Marine Lanka and Edward and Christie celebrated the keel-laying ceremony for two steel ferries commissioned by the Road Development Authority (RDA). The ferries, designed to enhance transportation between Kurinchakarney Lagoon and the Kurikadduwan-Nainatheivu route, will improve efficiency, safety, and connectivity.

Edward and Christie Chairman, Cristy Arawwala, emphasized the long-term strategy of integrating SMEs and advancing the maritime sector, while Dolphin Marine Lanka MD, Amarasiri Withanawasam, highlighted the investment’s role in expanding regional markets and innovation.

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