Business
Local investors are most welcome to invest in East Container Terminal: SLPA chair
A ship berthed at the East Container Terminal, yesterday. The terminal has been developed to its present operating capacity by the Sri Lanka Ports Authority.
by Sanath Nanayakkare
Local investors will get the pride of place to invest and operate the East Container Terminal (ECT) in the Port of Colombo, and the most credible proof for that is quite obvious as South Asia Gateway Terminals (SAGT), a Sri Lankan owned company is already operating a terminal single-handedly without any foreign stake in its business. General (Retd) Daya Ratnayake, SLPA chairman said yesterday.
He said so responding to a question posed by the media whether the government is not too keen to hand over the operations of the controversial ECT to a local investor.
“SAGT is a public private partnership container terminal in Sri Lanka, which provides a competitive best in-class service to the shipping community in the world, and any local investor can come forward and do exactly the same thing and gain from it,” he said.
He went on to say that is exactly the thing the government would welcome as the policy of the government is to give lucrative investment opportunities to local investors above anyone else.
“The government doesn’t have any plans to sell the country’s assets to another country. Nothing like that is happening. SLPA has built the ECT to its present capacity. The terminal was designed to be 1,300 meters long. By January 2015, 430 meters had been built and necessary equipment had been ordered. Somehow those approvals were removed by the last government and development of ECT stalled. Yahapalana government signed an MOU with India and Japan to operate the ECT. The current government’s policy is not to sell these assets. Last government had planned to obtain a loan from Japan and build it. The present administration has decided not to obtain any loans or to sell it to another country. The latest situation is; the Cabinet has appointed two committees. One to study, review and report how to raise funds to build the East Terminal and how to start and operate it. The second committee is tasked with discussing with India and our other partner institutes and companies and decide on the best solution to get it off the ground at its fullest capacity. When these two reports come the government will take the next step regarding the development of ECT,” SLPA chairman said.
The Business World International Conference and Awards Ceremony organised by Business World International Organisation INC-USA, the event which is recognized as one of the most prestigious Business Award Festivals in the Asia Pacific Region, was held at the Mount Lavinia Hotel, Colombo with the participation of several business personalities and celebrities of Sri Lanka. The Joint Chief Guests were Dr. Purna Bahadur Nepali (Ambassador of Nepal to Sri Lanka) and Prof. Dr. Dietmar Doering (Founder / Chairman – AGSEP Research and Advisory Board Member of Business World International Organization – USA). Guests of Honour were Tham Whye Long (First Secretary/Head of Chancery – High Commission of Malaysia in Sri Lanka), Prof. Dr. Rohan De Silva (President – Sri Lanka Chamber of Small and Medium Industries), (Retd) Major General R. A. J. N. Ranasingha (RSP USP NDC MSC – Sri Lanka Army), Dr. Rohan Pallewatta (Excutive Chairman of the Start-Up High Tech Company – Lanka Harness, a BOI approved company operating in the Free Trade Zone at Biyagama in Sri Lanka), Dr. Kishu Gomes (Chairman – Exterminators PLC, Group Managing Director / CEO – Dreamron Group of Companies & Advisory Committee Member – Sri Lanka Tourism), Dian Gomes (Nonorary Consul of Georgia in Sri Lanka, Chairman – Colombo School of Business Management & Independent Non-Executive Director – Nestle Lanka Ltd).
Special Guests were Rt. Rev. Bishop Prof. Dr. Nissanka Weerappulige (Advisory Board Member of Business World International Organization – USA), Prof. Dr. Dame Anoma Weeraratne Wijenayake (Advisory Board Member of Business World International Organization – USA), Gerd Heinzerling (Advisory Board Member of Business World International Organization – USA), Priyantha Padmasiri (President – Sri Lanka Canada Business Council), M. H. K. M. Hameez (Vice President – Sri Lanka Canada Business Council & Immediate Past President – Sri Lanka Malaysia Business Council). The invitees were graciously welcomed by Dr. Anthony Dexter Fernando (Chairman – Business World International Organisation USA – International Chapter), Dr. Tharindu Wijenayake (Deputy Chairman – Business World International Organisation USA – International Chapter) and Dr. Emerita Wijenayake (Project Chairperson & Director – Business World International Organisation USA – International Chapter).
Sampath Bank recently formalised a strategic partnership with the Chamber of Young Lankan Entrepreneurs (COYLE) by signing a Memorandum of Understanding (MOU) at its Head Office. This partnership highlights Sampath Bank’s ongoing commitment to promoting innovation, driving business growth, and empowering Sri Lanka’s entrepreneurial ecosystem.
Through this collaboration, Sampath Bank will serve as the official banking partner for the COYLE Awards and the Young Lankan Program, two flagship initiatives that recognise business excellence and nurture emerging leaders. Supporting these initiatives allows the Bank to create a strong pipeline for SME engagement, provide access to tailored financial solutions, and build meaningful relationships with the country’s leading entrepreneurs.
ANC, a leading Lankan higher education provider, partnered with Northwood University to host the 2025 NUCARS simulation in Sri Lanka for the first time. Held from April 7–11, the event brought together students from the U.S., Europe, and Sri Lanka for an immersive, hands-on learning experience in automotive retail strategy. Twenty-two ANC students participated, showcasing their ability to compete globally. Celebrating its 28th anniversary, NUCARS emphasized teamwork, cross-cultural collaboration, and real-world business decision-making—highlighting ANC’s commitment to delivering globally recognized education and empowering students with essential skills for the international marketplace, said a release.
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