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Dialog Axiata Group to invest USD 152.4 million in Sri Lanka

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left to right: Ms. Renuka M. Weerakone, Director General, Board of Investment of Sri Lanka, Dr Hans Wijayasuriya, Joint Acting Group Chief Executive Officer, CEO – Telecommunications Business/Group Executive Vice President, Axiata Group Berhad, Tan Sri Shahril Ridza Ridzuan, Chairman, Independent Non-Executive Director of Axiata Group Berhad, Raja Edirisuriya, Chairman, Board of Investment of Sri Lanka,  Supun Weerasinghe, Group Chief Executive/Director, Dialog Axiata PLC and Ms. Viranthi Attygalle, Group Company Secretary, Dialog Axiata PLC.

Dialog Axiata Group, the largest Foreign Direct Investor (FDI) operating under the aegis of the Board of Investment of Sri Lanka (BOI), announced the entering into of two supplementary agreements with the BOI for the investment of an additional sum of USD 152.4 Mn (LKR 56.7 Bn) in Sri Lanka’s Telecommunications and ICT Infrastructure on September 13, 2022.

The investment comprises of USD 112.8Mn from Dialog Axiata PLC and USD 39.6Mn from its subsidiary Dialog Broadband Networks (Private) Limited.

These agreements span a broad scope of telecommunications and ICT infrastructure development by the Dialog Axiata Group, encompassing the expansions of mobile and fixed 4G-LTE networks to provide rural and deep-indoor coverage, enhancement of big-data analytics and customer interaction capabilities, the evolution of IP and fibre networks, and the further development of the Group’s Wi-Fi and broadband networks. It is envisaged that these developments will offer more reliable and cost-effective internet connectivity, and significantly contribute to propelling the nation’s mobile telephony and fixed infrastructure to the forefront of innovation accelerating Sri Lanka into a digital nation.

The respective supplementary agreements between Dialog Axiata PLC and Dialog Broadband Networks (Private) Limited and the BOI were signed by Raja Edirisuriya, Chairman, Board of Investment of Sri Lanka, Supun Weerasinghe, Group Chief Executive/Director, Dialog Axiata PLC and Ms. Viranthi Attygalle, Group Company Secretary, Dialog Axiata PLC, in the presence of Tan Sri Shahril Ridza Ridzuan, Chairman, Independent Non-Executive Director of Axiata Group Berhad, Dr Hans Wijayasuriya, Joint Acting Group Chief Executive Officer, CEO – Telecommunications Business/Group Executive Vice President, Axiata Group Berhad, and Ms. Renuka M. Weerakone, Director General, Board of Investment of Sri Lanka.

Dialog Axiata Group is a subsidiary group of companies of Axiata Group Berhad, Asia’s second largest Telco with operations spanning across 8 countries including Malaysia, Indonesia, Bangladesh, Cambodia, Sri Lanka, Singapore and India, and Axiata has been a committed and long-term investor in Sri Lanka since the inception of Dialog.

Dialog is Sri Lanka’s largest Foreign Direct Investor (FDI) with cumulative investments totalling USD 3.1 billion. In this regard, it has been recognized by BOI as the first company to invest USD 1Bn in the country.

“Dialog Axiata has been instrumental in progressing our nation towards becoming a formidable next-generation digital infrastructure champion in a global setting. As the largest foreign investor in the country, Axiata has been a consistent and key enabler of this journey, even amid uncertainties. We are pleased to see the continued investments and unwavering commitment by the company which exemplifies the innumerable opportunities available in Sri Lanka to foreign investors who believe in and are willing to invest in the nation with a focus of capturing long-term value,” said Mr. Raja Edirisuriya, Chairman, BOI.

Commenting, Tan Sri Shahril Ridza Ridzuan, Chairman, Independent Non-Executive Director of Axiata Group Berhad said, “As the largest FDI in Sri Lanka, this latest investment agreement bears testimony to Axiata’s continued confidence in the nation and our commitment to Sri Lanka and its people. We consider Sri Lanka to be one of the key innovation hubs, where Dialog has achieved many region firsts, staying true to its ethos of delivering ‘The Future. Today.’ As always, we greatly value our long-standing partnership with the Board of Investment and remain committed to investing in Sri Lanka to accelerate the country into a Digital Nation.”



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Farmchemie becomes the first Sri Lankan owned company to receive FAMI-QS certification

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Farmchemie has obtained FAMI-QS certification being the first Sri Lankan owned company certified with FAMI-QS. FAMI-QS stands for Feed Additive and pre-MIxture Quality System, which compromises the safety of animal feed and the quality of processed goods in accordance with European regulation no. 183/2005 on animal feed. Farmchemie is a BOI approved leading manufacturer and exporter of animal feed additives and nutritional supplements in Asia. Farmchemie is equipped with a state-of-the-art manufacturing facility from Bühler, Switzerland to offer quality assured manufacturing services for world-renowned European brands as well as own brands under Farmstar. Farmchemie has already established their presence in numerous international markets such as India, Bangladesh, Nepal, Kuwait, Lebanon, UAE, Egypt, Thailand, Vietnam, Malaysia, Mongolia, Cambodia and Uganda. FAMI-QS will enable them to expand their markets including the European and USA.

“We are honoured to announce that Farmchemie becomes the first Sri Lankan-owned company to be certified with FAMI-QS in combination with ISO 9001: 2015 and Good Manufacturing Practices certification for animal feeding. By attaining FAMI-QS, we are able to anticipate the expectations of our clients for safe, high-quality goods by lowering the related risk and enhancing the quality of onsite feeds via a supply chain that is properly guaranteed. For that Farmchemie implements measures for Feed Fraud and Feed Defense according to FAMI-QS supply chain integrity module V2. We would like to express our heartfelt appreciation to our customers and suppliers for their continued support and dedication. We look forward to elevating the firm to new heights in the coming months and years, as our aims will always be centered on quality assurance and innovative manufacturing.” Managing Director Uditha Wanigasinghe stated.

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Exports Gold Award for Textrip

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Textrip Pvt Ltd, the export arm of the Elasto Group, was recently recognized, as the gold award winner for rubber and rubber-based products, medium scale category at the NCE Export Awards ceremony held recently in Colombo. The Chairman and Managing Director of Elasto Group, Mangala Gunasekera accepted the award at the gala event held at Shangri La Hotel. The national export awards ceremony, organized by the National Chamber of Exporters (NCE), recognizes and rewards Sri Lankan exporters on their performance in the international market.

“We always strive to manufacture high-quality rubber-based goods, using the latest technology, adhering to the highest international standards, and showcasing Sri Lanka on the global stage. I would like to thank our clients, locally and internationally for their continuous trust and my staff for their hard work and dedication. They are the pillars of our success,” Managing Director of Elasto Group, Mangala Gunasekera stated. Textrip products have obtained a number of national and international quality standards such as ISO 9001:2015, ISO 14001:2015, CET, REACH and their products are designed to adhere to the ‘Wellness Wisdom’ theme. The company works with over 100 top sports and wellness brands and exports to more than 30 countries including European countries and the United States. TEXSTRETCH Progressive Exercise Resistance Bands is one of the most popular products of the company. The product is a great full-body workout solution for users of any level.

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Sri Lanka Tourism returns to Spanish market after pandemic

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Spain is one of the fastest recovery markets for Sri Lanka Tourism after the pandemic and participation in FITUR argues well for the much-needed exposure for Sri Lanka as an attractive tourism destination for Spanish-speaking countries, contributing in a substantive manner to its overall growth strategy. Sri Lanka Tourism made the presence with the 28 private sector companies at 43rd edition of FITUR International Travel Mart which was held from 18- 22 January 2023, Madrid, Spain. FITUR is the largest tourism event in the Spanish Market where all the sectors leisure, business and MICE tourism meet under one roof.

Sri Lanka Tourism stall was ceremonially opened by Mr.Chalaka Gajabahu ,Chairman of Sri Lanka Tourism Promotion Bureau and Honorary Consul of Sri Lanka in Barcelona, Mr. Agustin Llana and representatives of the leading private sector members of Sri Lanka.

Sri Lanka was able to attract high level of attention from the trade and travel visitors attended at the event. The Sri Lanka pavilion highlighted many aspects of its potential culture, beauty, Ayurveda and many more which Sri Lanka would offer as a tourism destination. Sri Lanka stand optimized the “So Sri Lanka” and “Visit Sri Lanka” vivid sights to attract the potential visitor segments. At the Sri Lanka pavilion, Ceylon tea was served for the visitors with a view of promoting Ceylon tea in the Spanish market.

On the sideline of the FITUR travel fair, Sri Lanka Tourism Promotion Burau officials participated at the events organized by the UNWTO. During the events, SLTPB officials met with the Mr.Harry Hwang , Director of Regional Department for Asia and the Pacific, UNWTO.As a result of discussions, Mr.Harry Hwang has shown the interest to hold the UNWTO Joint commission in Sri Lanka in 2024.

Meantime, the SLTPB and Sri Lanka Embassy of France also took steps to arrange Business Meetings, exclusive media interviews, Air Line meetings at the FITUR 2023. The Media gathering conducted during the fair created the great opportunity to highlight the updates on the destination and create awareness on the destination.

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