Business
SL targeting more than I million Chinese tourists; 3000 Chinese athletes to participate in May marathon
By Ifham Nizam
Sri Lanka will go all out to get more than 1 million Chinese tourists to visit the island nation within the next few years, Sri Lanka Institute of Tourism and Hotel Management (SLITHM) chairman Shirantha Peiris said.
Peiris, who is involved in launching the tourism arm of what is referred to as the China Project, told The Island Financial Review that attracting Chinese visitors here is one of the prime objectives of the Project.
A study tour of China was organized by the Prime Minister’s office and the delegation was led by State Minister of Social Empowerment Anupa Pasqual.
Peiris added: ‘During the study tour I was able to connect, Agro Tourism / Home stays and discuss collaborations with hospitality & tourism institutes. I also had discussions with VP Chongqing Vocational Institute of Tourism on exchange programs.
‘I was involved in launching Sri Lanka’s Ni Hao Zhong Guo (China Project) Smart Tourism (System) Industry Education project.
‘As a result of these projects, we have already initiated a dialogue for a marathon to take place in Sri Lanka during the first week of May 2024, with 2000 – 3000 athletes participating from China. We will also have support staff and families accompanying the athletes. Sri Lankan athletes too will be invited to take part.
‘The first batch of Chinese tourists is due to arrive this month for leisure travel, while the second batch of some 5,000 is scheduled to visit in May to participate in the first Chinese marathon here.
‘With regard to the SLITHM degree program, we have successfully held the Institutional Review last year and gone through the Subject Review in January 2024. SLITHM is hoping to introduce the degree program for locals and international students in 2025, subject to all approvals, including Cabinet approval being granted.’
Speaking at a press briefing in Colombo on Wednesday, Sri Lanka Tourism Development Authority (SLTDA) Director General Nalin Perera said the tourism sector is anticipating Rs. 7 billion in revenue this year.
‘Out of this, Rs. 5.18 billion will be from embarkation fees and a further Rs. 2,087 billion will be utilized from the Tourism Development Levy, he said.
Perera added: ‘Out of this amount, 70 per cent will go to the Sri Lanka Tourism Promotions Bureau (SLTPB) 14 per cent to the SLTDA, 12 per cent to the SLITHM and the rest to the Sri Lanka Conventions Bureau.
‘SLTPB is gearing up to introduce a fresh tourism brand — the Buddhist Trail, to tap into the rich cultural and religious heritage of the country. Marine tourism is another area into which we are planning go all out within the first quarter of this year.
‘The former initiative aims to highlight Sri Lanka’s deep-rooted Buddhist heritage and promote the island as a prominent pilgrimage destination on a global scale.’
SLTPB chairman Chalaka Gajabahu said: ‘Sri Lanka, as a Buddhist country, holds immense potential to establish a unique tourism brand that resonates globally.
‘At the developmental stage, the Buddhist Trail project aims to emulate the success of similar initiatives like India’s Buddhist Tourism Circuit and the Ramayana Trail. The Ravana concept too will be promoted.
‘The Buddhist Trail focuses on significant Buddhist sites countrywide.
“With the rich heritage, breath-taking landscapes and profound spiritual significance, Sri Lanka can emerge as a leading destination for Buddhist pilgrimages and cultural exploration on the global tourism map.
‘We will make Sri Lanka a more happening destination; 2024 is going to be a very positive year.’
‘The fresh initiatives by the tourism authorities aim to significantly boost tourism activities, with the goal of increasing the average daily spend of tourists to USD 500 from the current USD 160, putting Sri Lanka in league with luxury destinations like the Maldives.
‘As per the provisional data by the Central Bank, the earnings per tourists witnessed a rebound in January 2024. The earnings per tourist arrival have improved to USD 1,641 in January, from USD 1,580 in the 1H23 period. In the 2H23 period, the earnings dropped significantly.
‘This is a step-by-step process. It won’t happen overnight. The event calendar will feature a diverse range of activities, including a water festival, Ride for Ceylon and a ‘unique’ event in Sigiriya.
‘I can’t divulge more details of the Sigiriya event but I can say it will be a surprise.
‘Additionally, a key meetings, incentives, conferences and exhibitions (MICE) event is scheduled to be held in the south of Sri Lanka next year.’
Business
HNB Finance bags 2 CMA Reporting Awards 2025
HNB Finance PLC has been honoured with two prestigious accolades at the CMA Excellence in Integrated Reporting Awards 2025, reaffirming the company’s commitment to transparency, good governance, and integrated business performance.
At this year’s ceremony, HNB Finance PLC was awarded Second Runner Up – joint in the category of “Best Integrated Report , Finance and Leasing Sector”, and also received a Merit Award in recognition of its continued efforts to enhance reporting quality and strengthen stakeholder communication.
The CMA Excellence in Integrated Reporting Awards, organised annually by the Institute of Certified Management Accountants (CMA) of Sri Lanka, acknowledge organisations that demonstrate superior financial reporting standards aligned with global best practices. Winners are assessed on key criteria such as financial performance and strategic management, corporate governance and compliance, innovation and digital transformation, sustainability practices, and professional excellence.
Chaminda Prabhath, Managing Director/CEO of HNB Finance PLC, commented on the recognition, “These awards reaffirm our commitment to upholding the highest standards of integrated reporting and transparent financial disclosure. At HNB Finance, we remain focused on delivering sustainable long-term value through robust governance frameworks, prudent financial management, and continuous innovation. The acknowledgement by CMA Sri Lanka reflects the disciplined efforts of our teams across the organization and motivates us to further enhance our reporting quality, strengthen ESG integration, and reinforce our stakeholder centric approach.”
Business
ComBank joins ‘Liya Shakthi’ scheme to further empower women-led enterprises
The Commercial Bank of Ceylon has reaffirmed its long-standing commitment to advancing women’s empowerment and financial inclusion, by partnering with the National Credit Guarantee Institution Limited (NCGIL) as a Participating Shareholder Institution (PSI) in the newly introduced ‘Liya Shakthi’ credit guarantee scheme, designed to support women-led enterprises across Sri Lanka.
The operational launch of the scheme was marked by the handover of the first loan registration at Commercial Bank’s Head Office recently, symbolising a key step in broadening access to finance for women entrepreneurs.
Representing Commercial Bank at the event were Mithila Shyamini, Assistant General Manager – Personal Banking, Malika De Silva, Senior Manager – Development Credit Department, and Chathura Dilshan, Executive Officer of the Department. The National Credit Guarantee Institution was represented by Jude Fernando, Chief Executive Officer, and Eranjana Chandradasa, Manager-Guarantee Administration.
‘Liya Shakthi’ is a credit guarantee product introduced by the NCGIL to facilitate greater access to financing for women-led Micro, Small, and Medium Enterprises (MSMEs) that possess viable business models and sound repayment capacity but lack adequate collateral to secure traditional bank loans. Through NCGIL’s credit guarantee mechanism, Commercial Bank will be able to extend credit to a wider segment of women entrepreneurs, furthering its mission to drive inclusive economic growth.
Business
Prima Group Sri Lanka supports national flood relief efforts with over Rs. 300 Mn in dry rations
Prima Group Sri Lanka has pledged assistance valued at over Rs. 300 million, providing essential Prima food products to support communities affected by the recent floods across the island. This relief initiative is being coordinated through the Ministry of Defence to ensure the timely and effective distribution of aid to impacted families.
As part of this commitment, Prima Group Sri Lanka donated a significant stock of Prima dry rations to the Government of Sri Lanka on 30 November. The consignment will be distributed across multiple severely impacted districts. These supplies will support families facing disruptions to daily life, ensuring they receive assistance as recovery efforts continue.
The handover took place at the Ministry, where the donation was received by the Secretary of Defence, Air Vice Marshal (Retired) Sampath Thuyacontha. Representing Prima Group Sri Lanka, Sajith Gunaratne – General Manager of Ceylon Agro Industries Limited, and Sanjeeva Perera – General Manager of Ceylon Grain Elevators PLC, officially presented the donation.
Prima Group has been standing with the people of Sri Lanka for over 40 years, and this donation reflects its broader commitment to the nation during challenging times. As relief operations continue across the island, the company remains focused on helping families rebuild their lives and supporting the ongoing recovery process in collaboration with the Government Authorities.
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