News
Sri Lanka has potential to benefit and learn from closer engagement with Vietnam
Sri Lanka and Vietnam have the potential for closer engagement, Ambassador Ho Thi Thanh Truc said at an event marking Vietnam’s National Day on Sept. 2 while a senior foreign official said there was much to learn from the rapid economic advancement of the South East Asian nation.
Co-operation between Sri Lanka and Vietnam had grown steadily over the years in bilateral trade, investment, high level visits and expanding people to people contact, it was oted at the celebration.
“This includes co-operation in multilateral forums consistent with our shared interests,” Ambassador Truc said during an open air event by the statue of the late Vietnamese leader Ho Chi Minh in Colombo to mark the Vietnam’s National Day. “I believe there are greater opportunities for co-operation between Sri Lanka and Vietnam.”
Vietnamese leader Ho Chi Minh declared independence from France on September 02, 1945 and Its 77th National Day was celebrated last week in Colombo.The statue of late President Ho Chi Minh was erected in Colombo 2013. He had passed through Sri Lanka on his travels to Europe in 1911, 1928 and 1946. Vietnam started economic reforms under the banner of Doi Moi (renewal) from 1983.
“Following Doi Moi, Vietnam’s notable achievements in every sector has been made possible thanks to opening and integration measures, overcoming challenges, as well as the assistance of our international friends,” Ambassador Truc said.
Sri Lanka’s Additional Foreign Secretary Saj U Mendis who had served in East Asia as a diplomat said in the 1980s Vietnam and Sri Lanka were similar in some ways. But Vietnam has since fundamentally changed its economy and image.
“Today if someone mentions Vietnam anywhere in the world they would say it is a country with immense economic, commercial and investment opportunities,” Mendis said.
Vietnam now had a gross domestic product of 410 billion dollars, external trade of 650 billion US dollars and had trade agreements including with the US, EU, Japan and regional trading blocs.
“Few countries have bilateral trade bigger than their GDP,” Mendis said. “Vietnam is an economic powerhouse in the region. Sri Lanka has much to learn from the impressive and imposing economic and social advancement and developments.”
“Sri Lanka is eager to be engaged in all aspects and enlarge economic, trade and commercial activities, benefiting both countries and other peoples,” he added.
Several Sri Lanka apparel firms had invested in Vietnam. Several Vietnamese firms were involved in hotels and construction in Sri Lanka. Bilateral trade between Sri Lanka and Vietnam grew to 460 million US dollars in 2021 from 287 million US dollars in 2020.
If Sri Lanka could capture only 0.001 percent or one thousandth of Vietnam’s import market, the island could eliminate its trade deficit with the country, Mendis said.About 9.6 million Vietnamese travelled overseas each year before Covid. If Sri Lanka could attract one out of 200 tourists, the country could draw 50,000 tourists a year, he added.
News
Cabinet nod to increase the number of new automated passenger clearance gates at the Bandaranayake International Airport to 12
Approval of the Cabinet of Ministers was granted at their meeting held on 19.05.2025 to purchase four (04) automated passenger clearance gates for Bandaranayake International Airport.
In addition, it is expected to extend the automated passenger clearance gates facility so far given only to the Sri Lankans
parallel to the e – passport issuance system to be introduced in the year 2027 also to the foreigners who travel to and from this country.
Furthermore, considering also the number of air passengers rapidly increasing with the fast – forwarding business and tourism field, the appropriateness to increase the total automated passenger clearance gates up to twelve (12) in number has been recognized.
Accordingly, the Cabinet of Ministers, approved the resolution furnished by the Minister of Public Security and Parliamentary Affairs to initiate the procurement and installation of 12
automated passenger clearance gates altogether with the already approved four (04) and another eight (08) automated passenger clearance gates adhering to the formal procurement procedure
Based on the observations submitted by the Task Force on Prevention of Money Laundering and Financing for Terrorism, approval of the Cabinet of Ministers was granted at their meeting held on 18.12.2024 to amend the Trust Ordinance No. 9 of 1917 including amendments proposed by the Financial
Intelligence Unit of the Central Bank of Sri Lanka.
Accordingly, clearance of the Attorney General has been granted for the Trust (Amendment) Draft Bill formulated by the Legal Draftsman.
Therefore, the Cabinet of Ministers approved the resolution furnished by the Minister of Justice and National Integration
to publish the said draft bill in the government gazette notification and thereby, submit the same to the Parliament for its concurrence.
Action was taken to provide a fuel relief for the fuel consumers during the months of April, May and June of 2026 to redress by minimizing the impact caused to the day today life of the citizens of this country as well as the entire economy due to the price hike of petroleum fuel in the global market resulting from the war situation in the Middle East.
Government mediation is essential for minimizing the impact on the day to today life of citizens in this country due to that war situation not being ended further. Therefore, it has been planned to redress on the sale price for Auto Diesel and Industrial Diesel for a period of 03 months by the Government to provide relief to the public as well as to maintain the prices at a bearable level to the consumers without escalating the fuel prices in this country compared to the escalation of fuel prices
in the international market.
Therefore, the Cabinet of Ministers granted approval for the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to
allocate provisions subject to the monthly limitations respectively as rupees 15 billion for the month of October, rupees 13.5 billion for the month of November and rupees 12.15 billion for the month of December to provide the said relief
Cabinet nod to increase the number of new automated passenger clearance gates at the Bandaranayake International Airport to 12
Draft Bill for amending the Trust Ordinance
Implementing further relief programme to Public sffected by the Middle East conflict situation
Establishment of a Spectrum Management and Monitoring System and a Quality of Service and Quality of Experience System for the Telecommunications Regulatory Commission of Sri Lanka
Appointment of a Committee for the Restitution of Sri Lankan Cultural Heritage Held Abroad
Ten-Year National Action Plan on the Social Protection Sector (2026–2035)
‘Dates have the highest sugar content to fight Coronavirus’
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