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3DH Building Solutions opens its new flagship store in Colombo 2

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3DH Building Solutions flagship store was opened at No.14/9, Sri Jinarathana Road, Colombo 2, by the Group Directors of 3DH International at a simple ceremony, followed by multi religious blessings recently.

3DH Building Solutions are the sole authorized agents for FMT Generators and Glarie Elevators.

“Customers can now experience the quality and efficiency of our Generators and Elevators first-hand. The showroom is designed in a way where customers can have a feel of our products”, the Company said in a press release.

Glarie Elevators is one of China’s top 10 elevator and travelator manufacturers, combining German technology and Chinese efficiency. It has achieved the ideal balance of luxury, safety, precision, and cost and is an exclusive principal to 3DH Building Solutions, which has installed numerous elevators throughout the country.

FMT group is a power generator manufacturer based out of Albania. As a country in the EU, it complies with all EU safety and manufacturing regulations which makes it equivalent to any generator manufacturer globally, it said.

FMT group is also exclusively served by the 3DH Building Solutions team in Sri Lanka and has sold a significant number of generators of varying sizes in the country, it further said.

3DH Building Solutions launched its commercial operations in 2019 to cater to the construction boom in Sri Lanka. Providing Generators and Elevators with state-of-the-art technology and flexibility to projects of any magnitude, has enabled 3DH Building Solutions to expand its operation within a short period of time.

Gaining a huge success in their operations, the company has managed to build trust and service excellence among the customers they serve. This has enabled the company to move out from their head office and set up a new signature showroom in Colombo 2.

Furthermore, 3DH Building Solutions has a service, installation, and after-sales workshop in Kandana to provide customer service 24/7. The company clientele includes supermarkets, condominiums, hospitals, mega showrooms, and individual customers, the press release further said.

In addition, the company has recruited a team with over 10 years of expertise in the fields of eco-friendly energy solutions, oil-based energy solutions, and people-moving products to help them drive the industry to greater heights, it added.

3DH Building Solutions Pvt. Ltd. is a fully- owned subsidiary company of 3DH International Group, a leading business conglomerate in the country which serves the Power and Energy, Leisure, Insurance, IT, and Agriculture sectors.



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‘Economic Transformation Bill ‘ and ‘Public Financial Management Bill’ to Parliament on May 22 – Acting Finance Minister Shehan Semasinghe

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Acting Finance Minister Shehan Semasinghe announced plans to introduce two significant bills to Parliament on May 22, aimed at bolstering the country’s economy.

These bills, the “Economic Transformation Bill” and the “Public Financial Management Bill,” are designed to enhance the management of public finances, thereby safeguarding against future economic downturns.

Minister Semasinghe made this announcement during a press conference at the Presidential Media Centre today (20), themed ‘Collective path to a stable country’.

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Macroeconomic policies in Sri Lanka are starting to bear fruit: IMF

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Julie Kozack, Director of IMF Communications

However, the global lender still requires two things from Sri Lanka

By Sanath Nanayakkare

Julie Kozack, Director of IMF Communications, last week highlighted Sri Lanka’s macroeconomic policies, rapid inflation decline, and steady economic growth as commendable.

“Sri Lanka now anticipates finalizing debt restructuring with private and official creditors. Domestic debt operations are largely completed, paving the way for faster-than-expected economic recovery following the crisis”, she said.

“So, just stepping back and giving the lay of the land. On March 21st of this year, the IMF staff and the Sri Lankan authorities reached a staff-level agreement for the second review of the program and also concluded the and also finished the Article IV mission. Completion of the review by the Executive Board of the IMF requires two things. The first is implementation by the authorities of the agreed prior actions, and the second is the completion of the financing assurances review, and that would confirm multilateral partners’ financing contributions. And the financing review will also assess adequate progress with debt restructuring.”

“With respect to Sri Lanka’s economic performance, macroeconomic policies in Sri Lanka are starting to bear fruit. Commendable outcomes include a rapid decline in inflation, robust reserve accumulation, and initial signs of economic growth, while also preserving stability in the financial system. Overall, program performance has been strong. The next steps with respect to the debt restructuring are to conclude negotiations with external private creditors and to implement the agreements in principle with Sri Lanka’s official creditors. The domestic debt operations are largely completed. The initial debt restructuring negotiations with external bondholders ended in mid-April without an agreement, and discussions are continuing with a view to reaching agreement in principle. And on the official creditor side, these agreements in principle still need to be finalized,” she said.

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CMTA hosts forum to explore Sri Lanka’s economic growth and mobility

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On Left - Katsuki Kotaro, Deputy Head of Mission - Embassy of Japan delivers the keynote address. On Right - Thilaka Jayasundara (Secretary, Ministry of Education), Eng. Ranjith Rubasinghe (Secretary, Ministry of Transport and Highways), Bingumal Thewarathanthri (Chairman, Sri Lanka Bankers Association), Katsuki Kotaro and CMTA officials

The recent event organized by the Ceylon Motor Traders Association (CMTA), themed “Mobility and Economic Growth,” brought together key stakeholders and thought leaders to delve into crucial discussions shaping Sri Lanka’s economic landscape. The event, highlighted by a keynote speech from Katsuki Kotaro, Minister and Deputy Head of Mission at the Embassy of Japan, and a dynamic panel discussion, provided invaluable insights and strategies for sustainable growth and enhanced mobility.

Kotaro emphasized Sri Lanka’s significant strides in economic recovery since the challenges of 2022. He explained that Sri Lanka’s economy has rebounded since 2022, with steady growth rates approaching the 3% target for 2024. Inflation, previously at 70%, has dropped to 2.5%, though prices remain high. Government efforts and IMF support have stabilized the economy. He went on to explain, that Sri Lanka’s practical strategy should involve starting with hybrid vehicles until about 2030, then transitioning gradually to EVs and fuel cell vehicles by 2035, mirroring Japan’s carbon neutrality goals. This phased approach acknowledges Sri Lanka’s current infrastructure and fiscal limitations. It’s crucial to develop industrial policies that support automobile production and enhance mobility while balancing economic growth with environmental sustainability.

During the course of the discussion, Bingumal Thewarathanthri, Chairman of Sri Lanka Bankers Association, spoke about Sri Lanka’s current economic trajectory, and possible risks the country might face. He explained, “We don’t see a risk of not crossing this review. As a country, we’ve made significant progress in several areas, including fiscal policy and the external sector, which has performed exceptionally well. Although there are still areas that need improvement, particularly in debt restructuring, the requirement is to show meaningful progress rather than completion for the second review. Given our advancements, I’m confident that Sri Lanka will secure the $300 million needed to move forward.”

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