Business

Investors in 85 countries well acquainted with strategic benefits of a Sri Lanka presence

Published

2 years ago

2021/06/12

The 2021 Invest Sri Lanka Forum held through June 7-9 provided potential investors with comprehensive coverage of policy topics and deep dive sessions on sectoral opportunities for investments as well as details on the enabling business environment in Sri Lanka.

The forum was enriched by a broad spectrum of investor testimonials from across FDI and portfolio spheres, and contributions from a galaxy of international speakers.

Further, investment opportunities and concessions in various economic sectors as well as the favorable climate for Sri Lankan capital markets, in particular equities, were examined over several sessions.

The forum had been organised by the Board of Investment, The Ceylon Chamber of Commerce and the Colombo Stock Exchange.

This Asia’s first ever virtual investment forum was held with foreign participation of 2,200 from 85 countries and 2,500 local participants.

The conference consisted of 118 insightful sessions with 108 local and foreign dignitaries, leading entrepreneurs and global experts joining to share information on foreign investment opportunities in Sri Lanka.

The forum was inaugurated by President Gotabaya Rajapaksa, who shared his vision for the spawning of a decade of growth culminating in the doubling of the economy.

The President pointed to the pivotal role local and foreign investors could play in the rapid transformation of the economy to reach a per capita income of US $ 8,000 within the current decade.

In inviting global investors to participate in Sri Lanka’s decade of growth, President Rajapaksa encouraged investors to seize the window of opportunity to leverage on Sri Lanka’s strategic location as the gateway to South Asia, high quality human resources, unique tourism potential, progressive policy environment and inherent political stability, among other factors.

Prime Minister Mahinda Rajapaksa inaugurating Day 2 of the forum stated that Sri Lanka has embarked on a wide range of development initiatives to encourage investment and has created a conducive business environment.

Day 3 was inaugurated by Ajith Nivard Cabraal, State Minister for Money and Capital Markets and State Enterprise Reform.

Country specific sessions designed for investors from China, Japan, India, South Korea, United Kingdom, European Union and United States were also held during the forum.

SLIF 2021 was supported by the following partners and sponsors: International Finance Corporation (Knowledge Partner), Boston Consulting Group ( Strategic Partner), Port City Sri Lanka (Flagship Project Partner), Microsoft (Technology Partner), HSBC (Banking Partner), Asia Securities (Platinum Sponsor), Shangri-La (Hospitability Partner), SLASSCOM (IT-BPM Sector Partner), FairFirst Insurance (Insurance Partner), Dialog ( Communication partner), Citibank (Gold Sponsor), CAL (Gold Sponsor), NSB Fund Management (Silver Sponsor), CT CLSA (Silver Sponsor), NDBIB (Silver Sponsor), Melstacorp (Bronze Sponsor), Softlogic Stockbrokers (Bronze Sponsor), CIMA (Skills Development Partner) and CFA Sri Lanka (Investment Professionals Partner).

Forum sessions can be accessed via www.invest-srilanka.lk in replay mode.

All News Advertisement

Business

Oil prices rise as Saudi Arabia pledges output cuts – Opec+

Published

17 hours ago

2023/06/5

Priyan

(picture BBC)

Oil-producing countries have agreed to continued cuts in production in a bid to shore up flagging prices.

Saudi Arabia said it would make cuts of a million barrels per day (bpd) in July and Opec+ said targets would drop by a further 1.4 million bpd from 2024.

Opec+ accounts for around 40% of the world’s crude oil and its decisions can have a major impact on oil prices.

In Asia trade on Monday, Brent crude oil rose by as much as 2.4% before settling at around $77 a barrel.

The seven hour-long meeting on Sunday of the oil-rich nations, led by Russia, came against a backdrop of falling energy prices.

Total production cuts, which Opec+ has undertaken since October 2022, reached 3.66 million bpd, according to Russian Deputy Prime Minister Alexander Novak.

Opec+, a formulation which refers to the Organization of Petroleum Exporting Countries and its allies, had already agreed to cut production by two million bpd, about 2% of global demand.

(BBC)

Business

Manpower services agency wins accolades for its contribution to foreign employment sector

Published

20 hours ago

2023/06/5

Thilina Walpola

Siraj Cafoor, Managing Director of Siraj Manpower Services receives the award

Its MD says. ‘go abroad only if you can work hard’

Siraj Manpower Services, one of Sri Lanka’s leading foreign employment agencies, was honoured with the Three-Star Award at the ‘Golden Awards’ 2023, organised by the Sri Lanka Bureau of Foreign Employment (SLBFE). This award ceremony was organised to honour foreign employment agencies that have made a significant contribution to the development of the foreign employment sector, which is a major source of foreign exchange for Sri Lanka. Siraj Cafoor, Managing Director of Siraj Manpower Services, was presented with the award at the award ceremony which was held at the BMICH in Colombo under the patronage of Minister of Foreign Employment and Labour Manusha Nanayakkara.

Having been established in 2002, Siraj Manpower Services (www.sirajmanpower.lk) has earned a reputation in the field of foreign employment by winning the trust of customers for more than 20 years. It has been offering job opportunities in the Middle East countries such as Kuwait, Qatar, Dubai and Saudi Arabia, and Malaysia as housekeepers, drivers, sanitation workers, labourers and also jobs related to the apparel industry. All these workers are entitled to approved salary scales certified by the SLBFE.

“We always stand for the safety of workers who go abroad through our organisation. We work to solve the problems that arise in relation to the contracts that the workers have entered into. I must mention something special to those who go abroad for employment. That is, you should keep in mind that you go abroad only to work. Go abroad only if you can work hard. You have to remember that you are going abroad to earn some more money and achieve the advancement of your family.” said Siraj Cafoor.

Business

Direct flights between Istanbul and Katunayake to commence from August

Published

20 hours ago

2023/06/5

Thilina Walpola

A special discussion between Turkish Ambassador – Demet Sekercioglu and Minister of Ports, Shipping and Aviation – Nimal Siripala de Silva took place last week at the ministry office. The aim of the discussion was to seek authorization to commence direct flights from the Turkish Capital Istanbul to Katunayake, Sri Lanka. The Chief of Turkish Airlines’ South Asia Office Fathi Bozkurt was also present during the discussion.

Currently, Turkish Airlines connects with Sri Lanka through a route that includes a stopover in the Maldives, resulting in an additional travel time of one and a half hours. The delay caused by this routing is not favored by travelers, as emphasized by the Ambassador.

The Chief of Turkish Airlines requested for time and space to be allocated in order to initiate direct flights between Istanbul and Katunaike, thus providing convenience for Turkish tourists and travelers who prefer visit Sri Lanka.

The Minister announced that the request would be forwarded to the Director General of the Civil Aviation Authority of Sri Lanka and the Airport and Aviation Services (Sri Lanka) (Private) Limited. The aim is to establish direct flights between Istanbul and Katunayake starting from August this year.

Turkish Airlines, a renowned airline with a fleet of over 100 aircraft, offers flights connecting Europe’s Vancouver and New York. The Chief of Turkish Airlines said that the new service would not only benefit European travelers but also encourage them to travel to Sri Lanka.