Business

Ambassador N’dry from Côte d’Ivoire to visit Sri Lanka

Published

4 years ago

2023/01/27

A delegation from the embassy of the Republic of Côte d’Ivoire will be visiting Sri Lanka from 31 January to 7 February. Eric Camille N’dry, the Ambassador designated of Cote d’Ivoire to Sri Lanka, will be presenting his credentials to the President of Sri Lanka, Ranil Wickremesinghe, while the delegation will be participating in the Conference on African Heads of Mission with the President, as well as the Independence Day celebrations.

In Sri Lanka the Côte d’Ivoire is represented by Sheran Fernando, Honorary Consul.The delegation will also be holding business meetings with a view to building collaboration and partnerships between Sri Lanka and Côte d’Ivoire.

The Republic of Côte d’Ivoire is a West African country bordering Guinea, Liberia, Mali, Burkina Faso and Ghana.Côte d’Ivoire is the powerhouse of the economy of French-speaking West Africa, and is the gateway to the vast market of 15 West African States. It has recorded good economic and social performances since 2012, with an average growth rate of 8% in real Gross Domestic Product (GDP) between 2012 and 2019; 7.4% in 2021. All this is within a reliable macroeconomic environment characterized by an inflation rate remaining permanently below the community threshold of 3%.

With a view to consolidating and increasing the achievements in terms of economic, social and environmental development, the Government has decided to continue the strategic planning of its development through the establishment, since 2012, of a five-year National Development Plan (PND).

The current Plan spans over 2021 to 2025 and aims to achieve the economic and social transformation need in order to raise Côte d’Ivoire, by 2030, to the rank of upper middle-income country.Besides, in line with its liberal policy, the Ivorian Government has made the private sector as the privileged actor of the economic growth. Indeed, the investments expected from the private sector represent 74% of the funding for the 2021-2025 NDP, estimated at 59,000 billion FCFA.

Like emerging countries, Côte d’Ivoire has undertaken significant reforms to improve its business environment in order to promote the development of a dynamic and internationally competitive private sector.

As competitive advantages, Côte d’Ivoire is the world’s largest exporter of cocoa beans and the fourth largest exporter of rubber in the world. It’s also the first producer and exporter of cashew nuts, 3rd coffee and cotton producer in Africa and the 4th palm oil producer in Africa. It also plays a key role in transit trade for neighbouring land locked countries.

Furthermore, Côte d’Ivoire’s financial sector is the largest in the West African Economic and Monetary Union (WAEMU). It currently has 28 commercial banks, 2 specialized financial institutes, 53 microfinance institutions, 4 mobile operators of which 3 offer money market products and 21 insurance companies as well as a very attractive Investment Code which grants tax advantages to investors. As such, there is no limitation on investors’ access to foreign currency and the transfer of investment-related assets is permitted, provided that it is always compliant with tax regulations.

There is a free zone (The Mahatma Gandhi Village of Information Technologies and Biotechnology – VITIB SA) which covers an area of 700 ha, in Grand-Bassam, a town located 20 minutes from Abidjan. Accreditation in this free zone allows the acquisition of premises or land, 0% taxes, 0% customs and 0% taxes.As is evident, Côte d’Ivoire is a stable country with a growing economy. From 2012 to 2021, the economy grew to become the second-fastest rate of economic growth in Africa and fourth-fastest rate in the world. (IMF. “World Economic Outlook database: April 2022”.)

Côte d’Ivoire is a signatory to trade agreements within the African Community.It is also a beneficiary of the U.S. African Growth and Opportunity Act (AGOA) which allows the country to export a certain number of goods into the United States tariff-free.

Under the Economic Partnership Agreement (EPA) with the European Union, Côte d’Ivoire gets duty-free, quota-free access to the EU.In 2018 Côte d’Ivoire signed the African Continental Economic Free Trade Zone (AfCFTA) agreement and in 2020 an EPA with the United Kingdom which replicates the tariff treatment under the European Union.Côte d’Ivoire could be a gateway into the African continent for Sri Lankan businesses looking to break into the region. It’s trade agreements with the U.S, EU and U.K and the market access it provides makes it a country ripe for investment.

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Business

Indo-Sri Lanka Chambers forge alliance to drive infrastructure and real estate investment

Published

17 hours ago

2026/09/14

Thilina Walpola

The exchange of the MoU between the two organisations

By Sanath Nanayakkare

In a major boost to bilateral economic ties, the Chamber of Construction Industry of Sri Lanka (CCISL) and the Indo–Sri Lanka Chamber of Commerce & Industry (ISCCI) have signed a strategic Memorandum of Understanding (MoU) to deepen cooperation in real estate, infrastructure, and urban development.

The agreement establishes a formal framework for both institutions to drive collaborative initiatives, including business delegations, high-level conferences, workshops, B2B matchmaking sessions, and technical site visits. Designed to bridge businesses, government institutions, and project stakeholders across the Palk Strait, the partnership aims to unlock new avenues for cross-border joint ventures and technology transfers.

A focal point of this newly minted partnership is the facilitation of an upcoming trade delegation from the National Real Estate Development Council (NAREDCO) of India. Comprising major Indian players in the real estate and infrastructure sectors, the visiting delegation will engage in targeted business meetings, workshops, and inspection tours of prominent construction projects in Sri Lanka.

Under the terms of the MoU, CCISL will serve as the principal host coordinator in Sri Lanka. In close consultation with ISCCI, the apex construction body will curate itineraries, identify viable projects for engagement, and facilitate high-level dialogues with key government agencies, regulatory bodies, and industry leaders.

With both nations prioritizing sustainable urban growth, modern construction technologies, and infrastructure expansion, industry leaders view the partnership as a timely catalyst for economic rejuvenation. The collaboration is anticipated to accelerate market access, knowledge exchange, and foreign direct investment into Sri Lanka’s burgeoning property and development sectors.

To ensure the success of the upcoming NAREDCO delegation, CCISL has issued an urgent appeal to statutory authorities and relevant project owners to come forward with viable investment proposals. Stakeholders holding projects seeking foreign investment or technical partnerships are invited to submit comprehensive details to the Secretary General and CEO of CCISL via email at secyces@gmail.com.

Both chambers emphasize that translating this foundational agreement into tangible partnerships and robust capital flows will significantly strengthen bilateral connectivity between the construction and real estate sectors of India and Sri Lanka.

Business

Hettich celebrates a decade in Sri Lanka with partner meet in Colombo

Published

17 hours ago

2026/09/14

Thilina Walpola

Over the past decade, Hettich has strengthened its presence in Sri Lanka through its focus on German engineering, innovation, quality and functionality

Hettich, the globally renowned German manufacturer of furniture fittings and architectural hardware known for its state-of-the-art manufacturing plants and magical interior solutions across the world celebrated a significant milestone in Sri Lanka, marking 10 years of presence in the country with its inaugural Partner Meet in Colombo.

The landmark event brought together Hettich’s key partners, stakeholders and industry leaders to celebrate a decade of growth, collaboration and shared success, while reaffirming the company’s long-term commitment to the Sri Lankan market.

Over the past decade, Hettich has strengthened its presence in Sri Lanka through its focus on German engineering, innovation, quality and functionality, contributing to the creation of contemporary and intelligently designed living and working spaces across the country.

The gala evening was graced by a distinguished delegation of senior leaders, including Dr. Andreas Hettich, Chairman, Hettich Group Advisory Board; S. K. Poddar, Chairman, Hettich India & Adventz Group; Mr. Akshay Poddar, Director, Hettich India; Andre Eckholt, Managing Director, Hettich India, SAARC, Middle East & Africa; Rahul Thakkar, Director – Sales, Hettich India & SAARC; and Dinusha Bhaskaran, Managing Director, Vallibel One PLC.

Business

GS Evo Motors launches all-new JMEV EWIND

Published

17 hours ago

2026/09/14

Thilina Walpola

Priyantha Perera, Chief Executive Officer of GS Evo Motors (left), and Sunil Wettasinghe, Chairman of GS Evo Motors, introducing the latest JMEV Ewind Electric SUV to the local market

GS Evo Motors Limited, the authorized distributor of JMEV electric vehicles in Sri Lanka, has officially launched the JMEV EWIND, a next-generation compact electric SUV. The vehicle is designed to offer strong performance, intelligent technology, premium comfort, and high safety standards, marking another milestone in Sri Lanka’s growing electric mobility sector.

The EWIND features a sleek, aerodynamic exterior with penetrating LED daytime running lights, trapezoidal chain-inspired LED tail lamps, 19-inch alloy wheels, and a bold silhouette. Inside, it offers a spacious cabin with a panoramic moonroof and retractable curtain, an ultra-thin suspended instrument panel, a D-shaped multifunction steering wheel, multi-colour ambient lighting, premium finishes, and electrically adjustable front seats.

The SUV is available in single-motor front-wheel drive configurations, producing up to 108 kW and 210 Nm, with 0–100 km/h acceleration in 8.9 seconds.