Connect with us

Business

Govt commits to boosting investments in people, joins the WB’s Human Capital Project

Published

on

The Lankan Government of Sri Lanka committed to accelerate more and better investments in human capital – health, education, and social protection – becoming the 82nd country to join the World Bank’s Human Capital Project.

At a high-level Human Capital Summit held Wednesday, at least 12 Ministers and State Ministers, Secretaries and State Secretaries, and several high-ranking officials including the Director General of the Ministry of Finance came together in person to discuss priorities to accelerate investments in human capital for increased future productivity and economic growth, and enable green, resilient, and inclusive development. The event also attracted around 200 virtual observers connecting from around the world and based in Sri Lanka.

Minister of Finance Basil Rajapaksa said: “Investing in people is at the center of our government strategy, and is key to ensure a successful post COVID-19 recovery. We will continue to prioritize investments in human capital, to improve early childhood education, achieve universal primary and secondary education, increase access to and quality of higher education, as well as technical and vocational education, enhance quality of the health care system to face future health care challenges, and support vulnerable individuals and families through Samurdhi and other safety nets and employment programs.”

Sri Lanka’s solid human development outcomes are reflected in the country’s relatively high pre-COVID-19 Human Capital Index score, which is higher than the South Asia region and global averages. However, the COVID-19 pandemic has had a significant impact on human capital accumulation in Sri Lanka, including job losses, a devastating learning crisis, and worsening malnutrition. This has led to increased poverty and vulnerability, especially among those groups who lack coping mechanisms and were already disadvantaged.

The World Bank is supporting the Government of Sri Lanka to address its human capital challenges through targeted engagements across health, education, and social protection, aligning with the Government’s National Policy Framework of Vistas of Prosperity and Splendour.

World Bank Vice President for South Asia Hartwig Schafer said: “Protecting and investing in people will be key to Sri Lanka’s recovery from the pandemic and boosting future productivity and economic growth. Sri Lanka’s membership in the Human Capital Project is timely for the country to protect its hard-won gains. The World Bank stands ready to support Sri Lanka to accelerate human capital development and pave the way for more inclusive, resilient growth.”

The Human Capital Project is a global effort to accelerate investments in people for inclusive economic growth. It makes the case for investment in the human capital of the next generation; provides access to a program of measurement, research, and analysis that helps to invest in and protect human capital; and supports peer-learning for countries as they develop and implement accelerated priorities for human capital development.

Committing to the cause of accelerating investments in people, the Ministers participating at this event made statements as follows:

Minister of Education Dinesh Gunawardena said: “Investments in education are central to reach higher levels of human capital outcomes for Sri Lanka. Our Ministry has made every effort to provide inclusive early childhood education and school education to all children. The opportunities to receive quality higher education and vocational training help to increase productivity, resilience, and enhance labor market outcomes. We look forward to working with the World Bank to invest in children and youth to realize their potential to contribute to the economy.”

Minister of Health Keheliya Rambukwella said: “A healthy population is the bedrock for the enhancement of a nation’s human capital. Prioritizing investments in nutrition at every stage of a human being’s life and ensuring a responsive, robust healthcare system are paramount. At the same time, leveraging technology will further enhance the efficiency, quality, and governance of healthcare service delivery.”

Minister of Labour Nimal Siripala De Silva said: “Securing and restoring jobs and incomes will be central to Sri Lanka’s recovery from the pandemic. We need more ambitious policies and programs to tackle these challenges, along with effective social protection strategies and social insurance programs. Sri Lanka can benefit fully from investments in human capital by improving labor market programs, especially for migrant workers. We look forward to working with the World Bank to improve Sri Lanka’s labor market programs, social protection and labor policies to realize full potential of all Sri Lankans.”



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Low-floor buses launched to boost accessible public transport for differently-abled

Published

on

A new low-floor bus service that gives priority to persons with disabilities and special needs was launched last Tuesday (21) from the Makumbura Multimodal Center (MMC).

The service was inaugurated under the patronage of Minister of Transport, Highways and Urban Development, Bimal Rathnayake.

Accordingly, ten specially designed low-floor buses have been introduced into the transport service today. These buses are specially designed so that wheelchair users, visually impaired passengers and also expectant women can board the bus with ease, the Transport Ministry said.

Each bus has 30 passenger seats and separate seating areas have been allocated for passengers using wheelchairs.

The pilot project operates on routes from Makumbura to Colombo Fort and from Makumbura to Kadawatha. These routes also cover major hospitals including the Colombo National Hospital and the Maharagama Apeksha Hospital.

Speaking at the event, Subject Minister Bimal Rathnayake stated that while these buses prioritize the differently-abled community, they will also provide a comfortable and reliable transport service for all passengers.

He also noted that 122 low-floor buses are planned to be introduced into service before the end of this year, and that in the future the service will be expanded to areas such as Kandy, Batticaloa, Matara and Jaffna.

Continue Reading

Business

Nestlé Lanka Announces Change in Leadership

Published

on

Nestlé Lanka Limited has announced the appointment of Manav Sahni as its Chairman and Managing Director effective 01 May 2026. He will be succeeding Bernie Stefan, who will be transitioning to a new global role within the Nestlé Group. Bernie Stefan led Nestlé’s Sri Lankan operations through a particularly challenging time since 2023 – and has successfully guided the company through a strategic turnaround, positioning it on a axis for sustainable growth.

Speaking on his tenure at Nestlé Lanka, Bernie commented “Leading Nestlé Lanka has been a deeply meaningful chapter in my Nestlé journey. I am grateful to have worked alongside an amazing and resilient team that continues to make a difference for Sri Lankans across the country. On a personal note, it was an amazing opportunity to live on this beautiful island and experience firsthand the openness, warmth and kindness of its people, which has been the highlight of my Nestlé career to date. As Nestlé Lanka marks 120 years of enriching Sri Lankan lives, it is especially humbling to reflect on the role we have played in building on this legacy – positively touching individuals and families, strengthening community partnerships, and advancing our sustainability commitments. I am thankful to my colleagues, partners and stakeholders for their collaboration and trust, and to the wider business community, including through my role as a Board Member of the Ceylon Chamber of Commerce, for the opportunity to reinforce Nestlé’s commitment to responsible corporate citizenship. I leave very confident in the strength of the team and the journey that lies ahead.”

Manav Sahni brings with him over 18 years of experience in the FMCG & Telecom sector. Prior to taking on the role as Chairman and Managing Director of Nestlé Lanka Limited, he has been heading Nestlé’s Dairy business for the South Asia Region, where he expertly managed a highly diverse portfolio, driving sustainable business transformation.

“I am thrilled to take on the role of Chairman and Managing Director of Nestlé Lanka at such a pivotal moment in its journey. Nestlé has been part of Sri Lankan households for generations, and I am excited to work with the team to continue delighting consumers with tasty and nutritious products, while strengthening the positive impact we create through our brands and initiatives.”

Continue Reading

Business

Majestic Cineplex Returns Bigger Better and More Immersive

Published

on

Ceylon Theatres will unveil the newly revamped Majestic Cineplex on the 29th of April 2026, beginning a new chapter for one of Sri Lanka’s best known cinema destinations. Located at Majestic City Colombo, Majestic Cineplex returns with major technology upgrades, enhanced comfort, and a range of premium viewing options, reinforcing Ceylon Theatres’ long standing reputation for raising the bar in cinema entertainment experiences in Sri Lanka. Accordingly, the upgraded Cineplex will be completely open to the public from 29th April 2026 onwards.

For generations of moviegoers, Majestic Cineplex has been a landmark venue in Colombo, and its latest transformation brings together the nostalgia of a familiar name with the excitement of a modern cinema experience. Leading the new screen line up is Majestic Platinum, which introduces Sri Lanka’s first and only digital LED cinema screen. Designed to deliver sharper visuals, deeper contrast, richer colour, and outstanding clarity, the auditorium features a 3D 4K Tricorne LED Cinema Screen together with Dolby Atmos surround sound. Majestic Platinum offers 226 seats, including 18 VIP recliner seats for those chasing a premium cinema experience.

The cineplex also features three additional theatres, each designed to offer a high quality movie experience. Majestic Superior includes Barco 2K projection, 3D capability, and 7.1 surround sound, with seating for 150 patrons. Majestic Ultra features the same advanced projection and audio systems with 149 seats. Majestic Gold offers a more private luxury setting with Barco 2K projection, 3D capability, DTSX surround sound, and 30 leather recliner seats, ideal for those looking for the most premium and exclusive experience.

Patrons can also enjoy an upgraded café experience with freshly prepared and ready to eat food available for purchase at the counter, along with convenience of being served to your seat. The new café experience, together with the upgraded theatres make for a more relaxed, enjoyable, and fulfilling experience for everyone.

Discussing the relaunch, Ganga Rathuvithana, General Manager Operations at Ceylon Theatres said, “Majestic Cineplex has always been a special part of Colombo’s cinema culture, and we are proud to welcome audiences back with an experience that reflects the future of movie entertainment. We have always believed in investing in the best available technology, from introducing Sri Lanka’s first 3D cinema to now launching the country’s first digital LED cinema screen. Our revamped Majestic Cineplex is designed to give movie lovers something truly special.”

Continue Reading

Trending