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Call for legal and market-based rationale before looking to increase FDIs

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by Sanath Nanayakkare

A reliable legal framework and a market-based level playing field are of crucial importance to increase the presence of foreign investors in Sri Lanka and to encourage further foreign direct investments (FDIs) to Sri Lanka, German ambassador Holger Seubert says.

He said so specifically referring to German investors and German companies, launching the 7th edition of Top German Brands in Sri Lanka, in the presence of BOI chairman Sanjaya Mohottala, Chief Delegate of German Industry and Commerce in Sri Lanka Andreas Hergenröther and more than 100 representatives of German brands.

In the context of current restrictions slapped on imports to Sri Lanka, the ambassador emphasised the fact that bilateral trade degenerating into a one-way street was neither free nor fair.

“Sri Lankan exports to Germany were three times higher than German exports to Sri Lanka. Germany is committed to free and fair trade. In fact, German exports to Sri Lanka decreased until the end of November by 26.8%, while Sri Lankan exports to Germany decreased by 5.8%. Until the end of November German exports to Sri Lanka were about 215 million Euro in the year 2020, while Sri Lankan exports were more than three times higher reaching about 664 million Euro”, he said.

Head of Risk Management Solutions of Deutsche Bank Dhakshitha Serasundera speaking at the event said, “It has become increasingly difficult for our clients to manage their foreign exchange exposure given the unprecedented current market environment and volatility which could continue in the near term. Deutsche Bank has been operating in Sri Lanka for 40 years and has been supporting our clients to meet their daily transaction banking and foreign exchange requirements through many different economic cycles.”

AHK Chief Delegate Andreas Hergenröther said, “Despite the Covid-19 pandemic 176 German brands have joined Top German Brands 2021, which is an increase of 13% compared to last year”.

To support current and future German investments in Sri Lanka, the German – Sri Lankan Fast Track Dialogue, which was initiated in 2019 by former Minister Malik Samarawickrama, the German embassy and AHK Sri Lanka, will be continued on February 25.

Through this Dialogue, German companies expect to have the opportunity to discuss with the BOI chairman and other Sri Lankan authorities the challenges and opportunities with regard to their existing or future investments.



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Seylan Bank offers amazing discounts for Avurudu

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With Avurudu just around the corner, Seylan Bank PLC is offering amazing discounts to customers purchasing daily essentials, electronics, clothing, gifts, and more. The bank with a heart will celebrate the New Year with “Ratatama Super, Avurudu Offers with Seylan Cards” and “Seylan Tikiri – Season of Gifts and Laughter”.

The bank with a heart, commenced these exciting offers and promotions to provide the best Avurudu experience to its customers young and old, and to reward them for their continued loyalty to the bank, in the spirit of festivity.

“At Seylan Bank, we want to make your Avurudu an unforgettable experience,” said Gamika De Silva, Assistant General Manager, Marketing and Sales at Seylan Bank. “These two promotions underscore our customer-centric approach which focuses on providing products and services that enhance the overall customer experience and convenience, adding value to your experience with the Bank with a Heart.”

The Bank has partnered with leading supermarket chains on selected promotions; with Keells offering 30% off on fresh meat during the weekends, Cargills providing 20% off on total bills during selected weekends, Glomark offering 20% off on the total bill on every Sunday for a limited time, Laugfs Super providing 20% off on a range of goods on every Monday for a limited time, and Premasiri Supermarket offering 20% off on vegetables & 10% off on fruits on every Wednesday & Thursday during the promotion period.

 

 

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OPPO launches Avurudu song to spread seasonal cheer

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OPPO recently launched an Avurudu jingle ahead of the Sinhalese & Tamil New year. Sung by OPPO brand ambassador & The Voice coach Umaria Sinhawamsa, the song also features popular personalities including actor& singer Gayan Gunawardena and choreographer Ramod Malaka& his dance troupe, Cool Steps.

The visual for the song has been shot in a scenic village atmosphere & features a host of New Year traditions of great cultural significance. The video also features the newly launched fan-favorite OPPO F19 Pro which is on offer during the season. On the first day of sales alone, the F19 Pro recorded a 200% increase in sales compared to its predecessor F17 Pro.

CEO of OPPO Sri Lanka Bob Li said: “This project helped us to immerse into Sri Lankan culture better. In keeping with the spirit of the season, evolving & upgrading, OPPO has launched two concurrent promotions: ERABADU WASI from 2-13 April & OPPO SERVICE WASI from 5 – 18 April.”

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SLIM elects new president and EXCO at 51st AGM

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The Sri Lanka Institute of Marketing (SLIM) held its 51st AGM, which saw the induction of its new President Thilanka Abeywardena, who will spearhead the Institute as its 43rd president. This appointment is a milestone in the history of the Institute as Ms. Abeywardena became the first ever female to hold the position of President.

The AGM was held on 7th April, 2021 at Marino Beach Hotel, Colombo. Both a new Council of Management as well as an Executive Committee were appointed during the meeting.

Thilanka currently holds the position of the CMO Lead, South East Asia Emerging Markets at Microsoft Sri Lanka (Pvt) Ltd. and leads marketing and communications across nine Asian countries; Bangladesh, Bhutan, Brunei, Cambodia, Laos, the Maldives, Myanmar, Nepal and Sri Lanka.

The newly appointed Executive Committee comprises ten experienced marketing professionals:

SLIM is the apex body for Marketing in Sri Lanka and has been promoting marketing excellence and elevating the status of marketing since 1970.

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