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Vietnamese Central Bank Governor compliments SL on economic improvements

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Vietnamese Central Bank Governor Mdm. Nguyen Thi Hong meets Sri Lankan ambassador to Vietnam Prof. A. Saj U. Mendis.

Governor of the Central Bank of Vietnam, the latter also known as the State Bank of Vietnam (SBV), Mdm. Nguyen Thi Hong, expressed optimism and voiced encouraging sentiments on the improvement of the economy of Sri Lanka, during the last 12 months, when the ambassador of Sri Lanka to Vietnam, Prof A. Saj U. Mendis, met her at the head office of the SBV.

Both the Governor and envoy discussed in detail micro and macro-economic issues and policies as well as monetary and fiscal policies implemented and executed by Vietnam, resulting in Vietnam attaining unprecedented economic growth during the last couple of decades.

A press release issued by the Sri Lankan embassy in Vietnam said: ‘Governor Hong, was one of the three Governors of Central Banks who were chosen by the prestigious “Global Financial Magazine” as the most effectual and competent Central Bankers in the world.

Ambassador Mendis complimented, both during the meeting as well as in writing, on this achievement, which reflected and manifested the efficacious and result-oriented policies executed by the Central Bank i.e. SBV. On the same note, Governor Hong conveyed the best wishes to the Governor of the Central Bank of Sri Lanka (CBSL), Dr. P Nandalal Weerasinghe, who was also selected by Global Financial Magazine as one of the best and competent Central Bankers in the world.

‘Governor Hong noted that Sri Lanka succeeded in reducing inflation from 65% to 5% within a space of 12 months as well as marked reduction of interest rates, increase of official foreign reserves and stabilizing of national currency of Sri Lanka.

Mendis stated that Vietnam, today, has become one of the fastest-growing economies in the world, thus being noted by major advanced economies and large multinational corporates world over.

‘Mendis added that a Central Bank of any nation, be developed or developing, plays an influential and seminal role in navigating and steering the economy.

That said, Vietnam which had a GDP per capita of only USD 90 in 1990s, today has risen to USD 4,450 as well as bilateral trade exceeding USD 730 billion, including exports of over USD 370 billion in 2022. Vietnam maintains economic and political stability with highly impressive economic indicators, such as inflation, interest rates and unemployment, among others.

‘Prof Mendis also stated that the SBV was pivotal and decisive in creating a milieu for foreign investors, corporates and FDI to flow into the country, since Vietnam received FDI in excess of USD 20 billion in 2022 and envisaging FDI of around USD 30 billion in 2023.

Some of the largest corporates, which are household names, have committed significant investments and FDIs in Vietnam amounting to a total FDI stock of USD 450 billion.

‘Both, the Governor and envoy, agreed that one of the determining and deciding factors of this iconic feat of the economic augmentation of Vietnam was the FTAs and Partnership Agreements it has with a number of key and select countries, numbering 17.

Envoy Mendis also stated that Sri Lanka too has FTAs with major countries in South Asia as well as in the process of concluding a number of FTAs with select countries in order to increase exports and woo FDIs and foreign institutional investments, among others.

Both the Governor and Envoy discussed policies and measures which have led to economic advancement and augmentation of countries, including Vietnam, among others.’



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Cabinet approves establishment of two 50 MW wind power stations in Mullikulum, Mannar region

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Adhering to the broad plan of the Government to reach the objective of accomplishing 70% of the country’s electricity supply from renewable energy sources by the year 2030, the approval of the Cabinet of Ministers was granted on 10.02.2025 to invite requests for resolutions from interested developers of the private sector in order to implement the Mullikulum Wind Power – 100 Mega Watts (two (02) wind power stations of
50 Mega Watts each) on the basis of construction, ownership and execution with a monitoring period of 20 years.

Accordingly, requests for proposals have been called to implement the relevant project by adhering to the international competitive bidding methodology, and seven (7) prospective project proposals were submitted.

Evaluating the said proposals, based on the recommendations submitted by the negotiation committee appointed by the Cabinet of Ministers, the Cabinet of Ministers granted approval to the resolution furnished by the Minister of Power to award the contracts of establishing the two (02) 50 Mega Watts Wind
Power Stations to Consortium of Vidullanka PLC & David Pieris Motor Company (Lanka) Limited and WindForce PLC.

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UNDP, together with partners, brings together immersive insight into the cruel realities of SGBV

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UNDP 16 Days of Activism against Gender Based Violence held at the Sri Lanka Foundation.

The 16 Days of Activism Against Gender-Based Violence is a global campaign observed annually from 25 November to 10 December, beginning on the International Day for the Elimination of Violence against Women and concluding on Human Rights Day. The campaign aims to raise awareness and inspire collective action to end all forms of violence against women and girls.

This year, in line with this, the United Nations Development Programme (UNDP), together with its key partners through ongoing flagship project initiatives, is taking a unique, never-before-seen approach to advocacy. ‘Through Her Eyes,

wef.aoEiska, அவளின் பார்வையில்’ narrates the heart-wrenching journey of ‘Sara’ in her search for justice through multi-medium storytelling that merges stage theatre, film and creative audio production techniques.

‘Through her eyes’ is in line with three UNDP Sri Lanka projects; Enabling Access to Justice for Victim-Survivors of SGBV in Sri Lanka funded by the Government of Canada and implemented together with UNFPA Sri Lanka; the Support to Justice Sector Project (JURE) funded by the European Union in partnership with the Ministry of Justice, and implemented together with UNICEF Sri Lanka; and the Action and Anticipation for The New Agenda for Peace (AAA) supported through UNDP’s Funding Windows with funding from the Governments of Denmark, Luxembourg and the Republic of Korea.

Commenting on the timeliness of such public activations, Azusa Kubota, Resident Representative, UNDP in Sri Lanka, stated, “As the country recovers from one of its worst natural disasters in its recent history, the focus on gender equality, inclusion, and structural change is more vital than ever. We all know SGBV leaves a deep scar in survivors, those around them and the society they live in. Yet, do we really know what it is like to live through that experience? In a crisis, how do we address root causes of SGBV that get exacerbated? We wanted to mark this year’s 16 days differently – by creating an experience where we, irrespective of our gender, culture, and all other differences, put ourselves in the shoes of those who live through the pain and hardships, and collectively think through ways in which we can tackle persistent challenges confronted by many. Our advocacy efforts aspire towards a nation and world free from SGBV- to achieve gender equality and empower. ‘Through Her eyes’ is a unique experience that is designed to bring this issue in front of a broad demographic audience, by bringing together stakeholders from across the Government, private sector, development partners, youth and CSOs, as we stand together to end SGBV and support Sri Lanka to build back better.”

Sharing the perspective from the Government of Sri Lanka, Minister of Justice Harshana Nanayakkara commented, “Through Her Eyes’ invites us to pause and truly understand the lived realities of survivors. It is a powerful reminder that every survivor who comes forward does so with immense courage. Their pathway to justice must be dignified, safe and free from fear. Ensuring the safety and empowerment of women and girls is not a task that can be achieved in isolation. A holistic approach is vital. Law enforcement, the judiciary, health services, social services, educators, civil society, the private sector and communities must stand together as allies.”

As a key partner, Kiril Iordanov, Head of Cooperation at the High Commission of Canada noted, “Addressing GBV is a shared responsibility. Canada continues to collaborate with partners to design and champion innovative solutions. Our approach is rooted in the belief that promoting gender equality and empowering women and girls has a multiplier effect on development. By placing women and girls at the centre, we contribute to building a more peaceful, inclusive, and prosperous world.”

The Safe Space of this immersive production also highlights the support and work being carried out by the projects, to support better access for justice for victim-survivors of SGBV, capacity building for relevant public sector institutions, media ethics when reporting SGBV and the promotion of male allyship and bystander intervention as a mechanism to eradicate SGBV in Sri Lanka.

Highlighting the priorities of the European Union, Carmen Moreno, Ambassador of the European Union to Sri Lanka and the Maldives, commented, “Gender-based violence endures when access to justice is made difficult by fear, stigma or indifference. This exhibition invites us to understand the experience through the eyes of the victim, and it forces us to question—and dismantle—the barriers that allow violence to continue without consequences. Justice systems Justice systems must act with determination in confronting this problem, but they cannot do so in isolation. Real change requires a society that supports women, recognises the realities of gender-based violence, and refuses to look away.”

In light of the current situation of the country, the event also hosted an interactive dialogue on the theme ‘Delivering Economic Independence for Survivors of Sexual and Gender-based Violence during Crises’ on the sidelines of the event. With participation from key individuals, including the Government, development partners, private sector leaders, civil society organisations and youth groups, the dialogue looked at key areas of Gender-responsive and intersectional crisis planning; protection, safety, and justice built into disaster preparedness and humanitarian response; safeguarding shelter design, ensuring access to health and reproductive services, psychosocial support, and safe reporting mechanisms.

The campaign aims to raise awareness and inspire collective action to end all forms of violence against women and girls. It calls on governments, organisations, and individuals to challenge harmful gender norms, support survivors, and demand accountability from perpetrators.

‘Through Her Eyes, wef.aoEiska, அவளின் பார்வையில்’ is open to the public from the 2nd to 7th of December from 10 AM to 7 PM at the Sri Lanka Foundation Institute.

To know more and engage in the immersive experience: https://go.undp.org/through-her-eyes

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Outstanding AI & Fintech Governance Leadership Award 2025 for Sopnendu Mohanty

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Asian Digital Finance Forum and Awards Convener and Global Fintech Institute (Singapore) Industry Fellow Rajkumar Kanagasingam (left) presents the award to Sopnendu Mohanty during the GFTN Insights Forum held in conjunction with the Singapore FinTech Festival 2025 at Marina Bay Sands, Singapore.

Sopnendu Mohanty, former Chief FinTech Officer of the Monetary Authority of Singapore (MAS) and current Group CEO of the Global Finance & Technology Network (GFTN), has received the Outstanding AI & Fintech Governance Leadership Award 2025 for his global contribution to responsible fintech advancement, cross-border policy innovation, and AI governance.

While the recognition was announced at the Asian Digital Finance Forum & Awards held at Port City Colombo, the formal handing-over ceremony was held recently in Singapore, during the GFTN Insights Forum that took place in parallel with the Singapore FinTech Festival 2025 at Marina Bay Sands Expo & Convention Centre.

Presenting the award, Rajkumar Kanagasingam, Convener of the Asian Digital Finance Forum & Awards and Industry Fellow of the Global Fintech Institute (Singapore), lauded Mohanty’s unique global impact.

“Sopnendu has set global benchmarks in innovation-friendly regulation, Kanagasingam said.

“From cross-border payment connectivity to AI ethics and multi-CBDC frameworks, his leadership has not only shaped Singapore’s fintech ecosystem but has helped entire regions transition into the digital economy responsibly.”

He added that Mohanty’s strategic influence continues beyond regulatory leadership.

“His ability to galvanise central banks, policymakers and innovators onto common platforms is rare. What he built in Singapore is now influencing multiple jurisdictions, and that continuity through GFTN is immensely valuable.”

Serving from 2015 to 2025 as MAS’s inaugural Chief FinTech Officer, Mohanty is widely acknowledged for transforming Singapore into one of the most forward-looking and trusted digital finance environments.

Mohanty has also endorsed Sri Lanka’s initiative to shape the Colombo International Financial Centre (CIFC) at Port City Colombo as a South Asian fintech gateway. He was presented with an interim policy blueprint during the DigiEcon Global Investment Summit.

By Ifham Nizam

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