Business
Russian entrepreneur targeting over Rs. 7 billion investment in SL’s healthcare sector
By Ifham Nizam
In a significant development for Sri Lanka’s tourism and healthcare industries, a Russian investor has announced ambitious expansion plans, running into over Rs. 7 billion, following the success of the Palm Garden Ayurveda Resort, Group’s Consultant Dr. Sohan Harsha Fernando told The Island Financial Review.
The Palm Garden Ayurveda Resort, a 6 million USD project, includes a separate spice garden which supplies produce for its dedicated Ayurveda center, spearheaded by the same investor. It has emerged as a beacon of wholeness in the country’s tourism sector.
Building upon this success, the investor now intends to invest a staggering Rs. 7.2 billion in further ventures across the country.
The Palm Garden Ayurveda Resort, nestling just 600 meters from Kabalana Beach, epitomizes tranquility and relaxation. Boasting an outdoor swimming pool, spa and wellness center and luxurious accommodation, the resort has set a new standard for wellness tourism in Sri Lanka.
Its success is a testament to the investor’s commitment to excellence and dedication to promoting holistic wellbeing, tourism sources said.
With the Palm Garden Ayurveda Resort serving as a blueprint for success, the investor aims to replicate this model across five additional locations in Sri Lanka, it is learnt.
‘These new Ayurveda resorts will not only enrich the country’s tourism offerings but also create job opportunities, promote Sri Lankan Ayurveda and stimulate economic growth in the region, Fernando said.
Fernando added: ‘Moreover, the investor’s plans extend beyond the hospitality sector. In a groundbreaking move, he intends to establish a Russian medical school in Sri Lanka, signaling a significant advancement in the country’s healthcare infrastructure.
‘This initiative promises to elevate medical education standards and foster collaboration between Russian and Sri Lankan medical professionals, ultimately enhancing healthcare delivery nationwide.
‘Additionally, the investor’s exploration of medical herb cultivation for pharmaceutical purposes underscores his commitment to innovation and scientific advancement.
‘By harnessing the therapeutic properties of medical cannabis and other indigenous plants, he seeks to develop cutting-edge treatment and bolster Sri Lanka’s pharmaceutical industry.
‘As the Russian investor’s multi-million-dollar expansion plans unfold, they are poised to make a transformative impact on Sri Lanka’s economy and society. Their visionary approach and substantial investment reflect a deep belief in the country’s potential as a hub for tourism, education, and medical innovation.
‘With the Palm Garden Ayurveda Resort as a shining example of success, these new ventures are sure to generate excitement and anticipation among stakeholders across various sectors, paving the way for a brighter future for Sri Lanka.’
Business
Priority areas for deepening Japan-SL economic ties
Japan Business Council (SLJBC) of The Ceylon Chamber of Commerce recently held its 47th AGM, with the Ambassador of Japan and the Patron of the Council, Akio ISOMATA, attending as the Chief Guest.
Addressing the gathering, Ambassador ISOMATA outlined three priorities for deepening bilateral economic relations: an effective and forward-looking trade and investment policy, the promotion of domestic industrial policy, and expanded investment in renewable energy. He noted that Sri Lanka’s ongoing review of its Free Trade Agreement policy would be important in shaping the country’s future negotiating landscape. He encouraged Sri Lanka to look Eastward toward Southeast Asia and Japan, proposing that the country adopt an export-oriented industrial model. The Ambassador welcomed the Government’s National Export Development Plan 2026 and National Mineral Policy 2026 as consistent with Japan’s vision of connecting Sri Lanka’s export-related manufacturing sectors with India’s high-growth manufacturing base.
In his address, President Athulla R F Edirisinghe reflected on nearly seven decades of humanitarian and development support extended by Japan to Sri Lanka, and paid tribute to the Chairman of the Sasakawa Peace Foundation Yohei Sasakawa, for his magnanimity in establishing the Foundation. Reflecting on the history of Japanese investment in the region from the 1970s onward, he observed that Sri Lanka had missed many opportunities to attract Japanese foreign direct investment. Highlighting the 2025 proposal for a Sri Lanka – Japan Economic Corridor by the Ministry of Economy, Trade, and Industry Japan, he called on Sri Lankan businesses, industry associations, and the wider community to come together in dialogue with the Government to ensure the country does not miss this opportunity as well.
2026/27 Committee: President: Athulla R F Edirisinghe – Director, Hirohama Ceylon (Pvt) Ltd, Senior Vice President – Ruwan Waidyaratne – Managing Director, Hayleys Advantis Ltd, Vice – President – Shamil Mendis – Managing Director, Spear International (Pvt) Ltd, Treasurer – Rohitha Mendis – Managing Director of Prudential Shipping Lines (Pte) Ltd, Immediate Past President – Mahen Kariyawasan – Managing Director, Andrew The Travel Company (Pvt) Ltd, representatives from Amano Lanka Engineering (Pvt) Ltd, BOV Capital (Pvt) Ltd, Brandix Apparel (Pvt) Ltd, Heritage Teas (Pvt) Ltd, Kalhari Enterprises (Pvt) Ltd, Lanka Harness (Pvt) Ltd, Dentsu Grant (Pvt) Ltd, MAC Holdings (Pvt) Ltd, and Vidullanka PLC. By invitation: HVA Foods PLC (subsidiary of George Steuart & Co), Spillburg Holdings (Pvt) Ltd, and Vaughan Chemicals (Pvt) Ltd.
The Sri Lanka – Japan Business Council plays an important role in promoting trade, tourism, and investments between Japan and Sri Lanka. For membership inquiries contact Kiyara at The Ceylon Chamber of Commerce via E-mail: businesscouncils1@chamber.lk or Tel.: 011 5588875/ 5588800.
Business
Rekawa turns turtle conservation into a 30-year community business model
By Ifham Nizam
What started 30 years ago as an effort to protect sea turtles has evolved into a community-based economic model that has generated livelihoods, attracted tourists and transformed Rekawa into one of Sri Lanka’s best-known nature tourism destinations.
The Rekawa Turtle Conservation Project, launched on September 2, 1996, by the Turtle Conservation Project (TCP) in partnership with the Department of Wildlife Conservation and the Rekawa community, marked its 30th anniversary last week, demonstrating how biodiversity protection can become an economic opportunity for communities living alongside sensitive natural resources.
Speaking at the anniversary celebrations, TCP chairman Thushan Kapurusinghe said the project currently provides direct livelihoods for 28 people, but its economic impact extends considerably beyond those directly employed by the programme.
‘Today, 28 people directly earn their livelihood through this project. But its impact goes far beyond those 28 individuals, Kapurusinghe said.
He pointed to the transformation of the area over the past three decades, arguing that the growth of tourism in the community has been closely linked to the turtle conservation programme.
‘If you travel from Netolpitiya to this area, you can clearly see how much the village has transformed over the years. There is no doubt that the growth of tourism in this community has been driven by the Turtle Conservation Project, he said.
The economic significance of Rekawa lies in its ability to convert the protection of a natural asset into a source of recurring community income.
Tourists do not come to Rekawa merely to see a beach. They come to witness sea turtles emerging from the ocean and nesting in their natural habitat—a tourism experience that depends directly on the continued protection of the nesting beach.
Kapurusinghe said tour operators regularly bring visitors to Rekawa, with some tourists traveling there after visiting major attractions such as the Kandy Esala Perahera.
The model represents a fundamental shift from viewing conservation as an expense to recognising biodiversity as an economic asset that can generate sustainable livelihoods when properly managed.
The 30th anniversary celebration at the Rekawa Turtle Conservation Project Information Centre brought together Southern Wildlife Region Director of the Department of Wildlife Conservation Channa Suraweera, government officials, conservation organisations, community representatives and long-standing supporters of the initiative.
Individuals who had contributed to the project over the past three decades were also recognised with awards for their service to sea turtle and environmental conservation.
Rekawa’s experience has attracted international attention because of precisely this combination of conservation and community development. The project has received international recognition as well as the Green Employment Award from the Ministry of Environment and Natural Resources. Earlier international recognition included a highly commended ‘Tourism for Tomorrow’ award, while the project’s turtle-watch programme subsequently received further recognition in responsible tourism and conservation.
Business
Ceylinco Life brings premium policyholders closer to the magic of the Kandy Perahera
For an evening, the timeless spectacle of the Kandy Esala Perahera unfolded at especially close quarters for a select group of Ceylinco Life’s most valued policyholders and their families, who were hosted to an exclusive viewing experience by the Company’s Customer Relations Division.
Held at the Ceylinco Life Kandy Branch on Kings Street, the annual event coincided with the second Randoli Perahera, bringing guests into the heart of one of Sri Lanka’s most spectacular expressions of culture, tradition and pageantry.
As the procession made its majestic passage through the streets of Kandy, guests enjoyed VIP seating at a prime vantage point, allowing them to experience the colour, movement and grandeur of the Perahera up close. The evening offered a fitting setting for Ceylinco Life to celebrate its enduring relationships with its premium clientele.
The experience extended well beyond the spectacle outside. Guests were welcomed with evening refreshments and an exclusive dinner buffet presented by the prestigious Amaya Hills Resort, adding a fine-dining dimension to an already memorable evening.
Families, too, were at the centre of the occasion. A private movie theatre experience provided entertainment for children and adults alike, while each attending family received a beautifully framed family photograph as a personalised souvenir, a tangible reminder of an evening shared together against the backdrop of one of Sri Lanka’s most treasured cultural traditions.
Besides being a much sought-after opportunity to watch the Perahera, the occasion was an expression of appreciation. Through its continuing Customer Relationship Management activities, Ceylinco Life seeks to create experiences that recognise its most valued policyholders not simply as customers, but as relationships to be celebrated and nurtured. And on this particular August evening, the enduring splendour of the Kandy Perahera provided the perfect setting for doing just that.
-
News6 days agoDenied of promotion to SC despite vacancies, justice Gurusinghe retires
-
Latest News7 days agoGrade 5 scholarship exam results released
-
News6 days ago22A: SC urged to suspend hearing, appoint full bench
-
News4 days agoNamal remanded until Sept. 18 over Airbus deal investigation
-
Latest News3 days agoTharanga creates history with Diamond League crown in Brussels
-
News6 days agoGovt. seeks NATO assistance
-
Editorial6 days agoStrange arithmetic goes unchallenged
-
News3 days agoDispute which triggered listed company director being detained at BIA resolved
