The Hambantota International Port (HIP) supported a joint initiative by the Japan External Trade Organization (JETRO) and the Hambantota Chamber of Commerce, which are on an initiative to attract investments into the southern hinterland of Sri Lanka. In line with JETRO’s business engagement in India, the delegation of investors consisted mainly of Japan-based business organizations with branch offices in India and some in Sri Lanka, an HIP news release said.

“HIP is keen to support investment events of this nature as they open up opportunities for investors to do business on a regional level from the south of the island.  The opportunity for Japanese companies operating in India and Sri Lanka to look at the deep south to build industry is timely at this particular juncture of Sri Lankan history.  The rapid development process taking place at our port and the establishment of the last pillar of HIP’s master plan, which is container operations, will vastly support the development of industries in the southern hinterland,” says Wilson Qu, CEO of Hambantota International Port Group (HIPG)

During their visit, the delegates participated in a short familiarization tour of HIP, where they observed the port’s facilities and engaged with its officials. The visit reflected HIP’s commitment to fostering international business relationships, with the port team delivering a detailed presentation showcasing the port’s facilities and potential.

The Hambantota International Port Group (HIPG), which is behind the port’s rapid expansion in the last few years, was recognized as a top FDI contributor at the BOI’s 45th Anniversary Awards, with an investment of $1.4 billion between 2017-2022.

The delegation included representatives from JETRO offices in both India and Sri Lanka, including Kaoru Shiraishi, Director General of JETRO India, along with Junki Yamashita, Senior Director of JETRO Chennai, and Toyokazu Nagamune, Senior Director of JETRO New Delhi. Representing JETRO Sri Lanka were Hiroki Oi, Lakna Ayeshmanthi, Yuno Fukatsu, and Shigeki Nogami.

The visit to HIP marks Japan’s growing interest in Sri Lanka’s strategic trade and logistics potential, with the port serving as a vital hub for global commerce. By engaging with global stakeholders, HIP reinforces its position as a gateway for international trade and investment, paving the way for collaborations that promise mutual growth and development, the release concluded.

Launches pilot ‘Agri Modernisation Village’ programme in Mahilankadu, Kilinochchi

The Commercial Bank of Ceylon has embarked on an ambitious mission to propagate technology in the agriculture sector, encompassing all areas of agricultural potential in the country, a news release from the bank said.

This initiative aims at empowering farmer communities and improving the quality and volume of crop yields by fostering sustainable agriculture practices and equipping rural communities with the latest resources and knowledge in modern farming, it said.

The first village to be “adopted” under the pilot project of the programme was Mahilankadu in Kilinochchi, in collaboration with the University of Jaffna and the Department of Agriculture in Kilinochchi.

This first “Agri Modernization Village” was recently introduced to transplanting paddy seedlings using mechanized technology as the first demonstration of the programme. The event saw the participation of farmers, members of the local farmers’ organization, and officials and experts from the Kilinochchi area.

This programme on transplanting paddy seedlings using mechanized technology was held in Mahilankadu village and was attended by a large number of local farmers organizations and officials of institutions connected with agriculture promotion.

Commenting on the initiative, Commercial Bank’s Deputy General Manager – Personal Banking Mr Delakshan Hettiarachchi said: “This transformative initiative of the Development Credit Department of Commercial Bank for rural communities is designed to bridge the gap between traditional farming methods and innovative technologies. We believe this can revolutionize the agriculture sector, and stimulate the next generation to embrace smart agricultural practices.”

The different elements to be addressed by the ‘Agri Modernization Village’ programme include access to advanced techniques such as transplanting, sustainable irrigation, and climate-resilient crop varieties that lead to increased productivity and profitability; skills development and training; financial inclusion and access to credit via direct engagement with the Bank; improved livelihoods though better yields and access to new markets; sustainable practices that ensure the long-term viability of farmer lands; and community support and networking.

Additionally, the collaboration with academic and agricultural institutions required to implement the programme fosters a valuable knowledge-sharing environment, the Bank said.

Commercial Bank is the biggest lender overall to Sri Lanka’s small and medium enterprises (SME) sector and the second biggest lender to the country’s agriculture sector. In 2023, the Bank lent Rs 231.655 billion out of the total loans of Rs 704.142 billion to SMEs, accounting for 32.89% of the total in value terms.

Earlier this year, the Bank conducted an ‘Agri Modernization Fair’ for farmers in the Vavuniya area, bringing together some of the biggest names is Sri Lanka’s agriculture sector to introduce the latest technologies available to them and to promote smart agriculture. This followed an awareness programme conducted for farmers in the North Central Province on the functionalities of drones in the modernisation of agricultural practices.

Programmes of this nature are supported by the Bank’s 19 Agriculture & Micro Finance Units (AMFU) which are located across the country and play a key role in helping the Bank to identify specific needs of entrepreneurs who require assistance to develop either their agriculture activities or micro businesses. These units are dedicated to promoting agriculture lending and micro finance.

Commercial Bank has the widest international footprint among Sri Lankan banks, with 20 outlets in Bangladesh, a Microfinance company in Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives.

The 21st Annual General Meeting of the Sri Lanka – Russia Business Council of the Ceylon Chamber of Commerce (SLRBC) was held recently at the Cinnamon Grand, Colombo 03. The event was graced by the presence of H.E. Levan Dzhagaryan, Ambassador of the Embassy of the Russian Federation in Sri Lanka, who participated as the Chief Guest, a news release from the chamber said.

Delivering his address, H.E. Dzhagaryan highlighted the significant trade, tourism, and cultural collaborations between Sri Lanka and Russia, emphasizing that Russia continues to play a pivotal role in Sri Lanka’s tourism sector and export trade.

The keynote speaker, Mr. Mangala Wijesinghe, Chairman and Chief Executive Officer of the Export Development Board, discussed strategies to enhance Sri Lanka’s export potential and foster stronger economic ties with Russia. His address included insights on Sri Lanka’s ambitious targets for merchandise and service exports, as well as initiatives to bolster the small and medium enterprise (SME) sector.

In his speech, Mr. Jude Fernando, President of the SLRBC, reflected on the Council’s achievements, including facilitating greater trade collaboration and enhancing bilateral relationships. He outlined future plans focused on creating new opportunities for member engagement, strengthening support for small and medium exporters, and addressing trade challenges through innovative solutions and policy reforms.

Mr. Jude Fernando, Director, Rhino Roofing Products Limited, continues as President of the SLRBC for 2024/25. Vice Presidents Mr. Buddhapriya Ramanayake, Managing Director, Maxims Overseas Holdings (Pvt) Ltd, and Mr. Prabath Harshakumar, Vice President – John Keells Holdings and Head of Business Development, Walkers Tours Ltd, were re-elected. Ms. Shamindi Kumarasinghe, Head of Exports, Nature’s Beauty Creations Limited, was re-elected Treasurer, while Mr. Kolitha Wickremasinghe, Managing Director, SALOTA International (Pvt) Ltd, continues as Immediate Past President.

The newly elected committee includes representatives from Avian Technologies (Pvt) Ltd, Ceylon Fresh Teas (Pvt) Ltd, Freight Links International (Pte) Ltd, HVA Food PLC, Millennium Teas (Pvt) Ltd, Regency Teas (Pvt) Ltd, Scanwell Logistics Colombo (Pvt) Ltd, Shan Teas (Pvt) Ltd, and Unitrades (Pvt) Ltd.

For membership inquiries, contact Council Manager – Aneesha at the Ceylon Chamber of Commerce via 0115588856 or email industry@chamber.lk.