Business

HIP achieves highest cargo volumes during pandemic

Published

4 years ago

2021/03/10

Cargo volumes at the Hambantota International Port (HIP) have been steadily on the rise, reaching an all-time high during the months of December 2020 and January 2021. Despite the challenges faced by the ports and shipping industry last year, HIP has remained consistent in its progress.

A total of 388,031 units of RORO were achieved in 2020, with 58,996 units handled in the month of December, the highest recorded since the port’s inception. The second highest volume was handled in January this year which is 55,068 units.

“Managing the high need for manpower for operations while ensuring that our employees were protected was one of our biggest priorities in the past year,” says Senior General Manager- Operations, Sylesh Peerez. “We managed this successfully, on a roster basis, ensuring that we met the high demand while strictly adhering to Covid-19 health and safety guidelines,” he adds.

The consistency of HIP’s cargo volumes was first seen in the month of September, 2020 and can be constituted to HIPG’s aggressive marketing activities in the first half of 2020 as well as the introduction of new RORO business models. This strategy has paid dividends with the transshipment of thousands of vehicles via Sri Lanka’s southern port, during a period when the country itself is under a ban on vehicle imports. Vehicles coming from India, Korea, Japan and China are discharged at HIP for transshipment to the Middle East, South Africa and South America.

The port was not only successful in increasing their RORO cargo but experienced improved volumes of LPG and dry bulk cargo handling, taking their overall figure of cargo handled to 1,788,995 Metric Tons. Of this, 388,031 units were RORO cargo, a noteworthy achievement in a rather tough year of lockdowns and restrictions and a considerable improvement from the figures of 2019. The Hambantota International Port has proved itself to be a top of the line multi-purpose port that is remarkably resilient and consistent in achieving its goals even in the midst of a global pandemic.

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Business

Seven Acts under the subject of institutions implemented under the Ministry of Industry and Entrepreneurship Development to be amended

Published

5 hours ago

2025/04/29

Priyan

The Cabinet of Ministers has approved the joint proposal presented by the Minister of Industry and Entrepreneurship Development to include the aforesaid amendments of the Acts to the Legal Compilation Program of the government in the year 2025 for the amendment of the following Acts.

• National Gem and Jewellery Authority Act, No. 50 of 1993.
• Technical Development Act No. 36 of 1969
• Sri Lanka institute of textile and apparel Act, no. 12 of 2009
• Sri Lanka Export. Development Act, No. 40 of 1979
• National Enterprise Development Authority Act No. 17 of 2006 and National Enterprise Development Authority Act No.18 of 2014 (Amendment)
• National Crafts Council and Allied Institutions Act No. 35 of 1982
• National Crafts Council and Allied Institutions Act No.4 of 1996 (Special Provisions)

[It has been planned to amend the above acts that come under the subject of institutions implemented under the Ministry of Industry and Entrepreneurship Development this year to create a strong and suitable institutional framework to expedite economic conversion in Sri Lanka]

Business

‘A meeting of minds, markets and opportunities’

Published

14 hours ago

2025/04/29

Sahan Weerasooriya

Dignitaries and industry leaders inaugurate the Global Franchise Forum 2025

The Global Franchise Forum 2025, held at the Sheraton Hotel in Colombo recently was seen by dignitaries present as delivering significant benefits to Sri Lanka’s economy, entrepreneurs and the country’s global standing. Gaurav Marya, chairman, Franchise India Group, complimenting the event said, among other things, that the event was a ‘meeting of minds, markets and opportunities’.

The event attracted global brands, investors and business leaders, connecting them with Sri Lanka’s entrepreneurial community and was seen as laying the groundwork for long-term economic growth and collaboration.

Gaurav Marya, further said:

“We are thrilled to see such an enthusiastic and relevant audience in Sri Lanka. The energy in the room reflected the hunger for growth and the readiness of Sri Lanka’s entrepreneurs to embrace global brands and scale with purpose.”

Knowledgeable observers added: ‘Franchising offers a tested pathway for small and medium enterprises (SMEs) to grow sustainably. Through partnerships with established global brands, Sri Lankan entrepreneurs now have better access to proven business models, reducing startup risks and improving scalability. This promises to generate significant employment opportunities in sectors like hospitality, healthcare, retail, and education, thereby strengthening the social and economic fabric of the country.

“The forum also helped reinforce Sri Lanka’s strategic position as a gateway to South Asia. Highlighting the country’s growing consumer base, skilled workforce and improving business environment, the event attracted international attention, signaling Sri Lanka’s readiness to play a larger role in regional trade and investment flows.

“Support from respected organizations—including the Indo-Lanka Chamber of Commerce, ICC Sri Lanka, and FCCISL—helped foster new partnerships and cross-border collaboration opportunities. By encouraging foreign investment and knowledge-sharing, the forum is set to help Sri Lankan businesses become more competitive regionally and globally.

“Panels, workshops, and one-on-one business meetings equipped attendees with vital knowledge about franchising strategies and global business practices. The presence of industry experts offered Sri Lankan entrepreneurs valuable tools for success, promoting a culture of innovation and strategic growth.”

Reflecting on the broader significance of the event, Gaurav Marya added,

“Sri Lanka is clearly moving toward economic recovery. Despite global headwinds, including recent trade policy shifts, the Global Franchise Forum 2025 Sri Lanka Edition has helped catalyze timely conversations and build sustainable partnerships that support long-term economic development and resilience.”

By Ifham Nizam

Business

National Savings Bank appoints Ajith Akmeemana,Chief Financial Officer

Published

14 hours ago

2025/04/29

Sahan Weerasooriya

National Savings Bank (NSB) announces the appointment of Ajith Akmeemana as the Chief Financial Officer (CFO), effective immediately.

Ajith Akmeemana has nearly 35 years of experience in the financial services industry driving financial strategies and ensuring sustainable organizational growth and profitability.

He brings extensive experience in corporate planning, asset-liability management, treasury management and corporate finance activities, complemented by C-suit leadership roles at Nations Trust Bank and Bank of Maldives. His career commenced at Standard Chartered Bank, Sri Lanka, and includes a strong foundation in audit and advisory services at Ernest & Young.

Akmeemana is a Fellow Member of the Institute of Chartered Accountants of Sri Lanka and holds an MBA from the University of Manchester, UK. He is also a Graduate Member of the Sri Lanka Institute of Directors and an Associate Member of the Institute of Bankers of Sri Lanka.

Commenting on his appointment, Akmeemana said, “It is an honor to join National Savings Bank, an institution with a strong legacy and an essential role in Sri Lanka’s financial sector. I look forward to supporting NSB’s mission and contributing to its continued growth and success.”

The Chairman, Board of Directors, GM/CEO, and the entire NSB team warmly welcome Akmeemana and are confident in his ability to lead the Bank’s financial operations in alignment with its strategic direction.