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Sri Lanka Tourism commands attention at World Routes 2021

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Sri Lanka made a huge splash at the 26th World Route Development Forum (World Routes 2021), which took place in Milan, Italy, recently. By making its presence felt at the forum, Sri Lanka pitched its destination for global airlines to consider it as one of the top holiday destinations for the upcoming winter season and beyond. Sri Lanka Tourism officials were able to directly engage with decision-makers from the global route development community, including world’s air services, while taking advantage of dedicated in-person and virtual event days combining extensive meeting opportunities, exclusive industry insight and first-class networking opportunities.

The Chairperson of Sri Lanka Tourism, Ms. Kimarli Fernando, expertly leveraged on the platform provided by World Routes 2021 to highlight Sri Lanka’s 5-year global campaign and growth potential. Her keynote presentation was followed by a panel discussion and a Q&A session with attendees in collaboration with Major General (Rtd.), G.A Chandrasiri , Chairman, Airport and Aviation Services. Through the duration of the Forum, Sri Lanka Tourism was present on all social media platforms for driving brand awareness, pushing Destination Sri Lanka to the front and centre of global travel and tourism operators present.

With the Sri Lankan Government declaring this a growth decade, Sri Lanka Tourism has been aligned to the government’s vision as enshrined in the 10 pillar strategy document. Over the last two years, Sri Lanka Tourism has advanced the industry across various factors to bring prosperity to all stakeholders and to ensure Sri Lanka tourism fulfills its potential. Concurrently, with a high vaccination rate, Sri Lanka has opened up to fully vaccinated tourists, offering them a safe and exciting stay.

One of the key pillars has been connectivity and the efforts made have been fruitful – with several European and regional airlines resuming direct flights, new routes being established and increased frequency of flights to Sri Lanka which will boost tourism for the upcoming peak season.

Apart from elaborating on the strategy, Kimarli Fernando engaged in an absorbing Q&A session with global airline industry stakeholders. During her keynote speech she elaborated on Sri Lanka’s biodiversity, UNESCO sites and other cultural and nature offerings. One of the highlights of her speech was tourist investment. Tourism has been attracting substantial investment despite the challenges emanating from the pandemic. Between March 2020 – June 2021, the Government of Sri Lanka has attracted over US$950 million in investments, received 64 project proposals and approved 38 projects to the value of $102.38 Million. These ventures will be executed under the Sri Lanka Tourism Development Authority (SLTDA). In order to attract strategic investors, the Investor Relations Unit was launched as a single point of contact for all tourism investments. In addition, the Government of Sri Lanka is extending a host of financial incentives and fast-track processes to get projects off the ground within the shortest possible time.

Given the recent tie-ups with France tourism operators and a similar push in more key western markets, the brand awareness of Sri Lanka is growing in strategic markets.



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Berendina bags Silver at the CA Sri Lanka 56th Annual Report Awards

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From left: Sarath Chandra Fernando - Director-BMIC, Charith Fernando - Deputy Managing Director-BMIC, Saman Manatunga - Acting Head of Finance-BMIC, Dilhara Jayasinghe - Assistant Manager Compliance & Corporate Relationship-BMIC, Ranel T Wijesinha - Past President CA Sri Lanka, Jagath Godakanda – Chairman-BMIC, Chaaminda Kumarasiri – Chairman-Annual Report Awards Committee 2021 and Chamila Cooray - Alternate Chairperson-Annual Report Awards Committee 2021

Berendina Micro Investments Company Limited, better known as BMIC among its microfinance clientele and partners, won the Silver award at the 56th Annual Report Awards organized by the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka), under the category of Finance Companies and Leasing Companies (total assets up to Rs. 20 Billion). Over 70 companies, ranging from conglomerates, multinationals to non-profit organisations, and SMEs, were honoured at this year’s competition for their excellence in financial reporting. The gala event of this year held on 09th December 2021 at BMICH. Being the first Microfinance Company licensed by the Central Bank of Sri Lanka, BMIC is no stranger to this annual competition having won a prestigious Gold Award in 2017 and Merit Award in 2018.

The award from CA Sri Lanka is the fourth award to be won by BMIC during the financial year 2021, having won 3 international awards, namely, ‘The Best Microfinance Company in Sri Lanka’ and ‘The Best Agricultural Lending Company in Sri Lanka’ awards from the UK based Global Banking and Finance Review magazine as well as ‘Donor’s Choice Award’ at the international competition conducted by SCALE Green Creative Adaptation Awards in USA in 2021. Focused on poverty alleviation, BMIC as a Microfinance Institution (MFI) extends micro-credit facilities and enterprise development services that ensure long term sustainability and growth of business ventures of its clients, providing loans at the lowest interest rate compared to other MFIs in Sri Lanka. At present, BMIC manages a loan portfolio of over Rs. 3.1 billion and an annual turnover exceeding Rs. 900 million. It supports well over 70,000 microfinance clients through its 30 Branches in 11 districts. The CA award bestowed on BMIC is another testament to its commitment in continuously supporting its clients to overcome the obstacles during difficult times, while preserving its transparency in reporting, corporate governance, sustainability and social responsibility.

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SLIC repositions Business Club insurance with more focus on SMEs

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Sri Lanka Insurance last week announced repositioning of its Business Club insurance, a trade insurance policy which provides a comprehensive business insurance solution to fit for the diverse insurance need of small and Medium enterprises (SME).

“According to the Export Development Board of Sri Lanka SMEs are considered to be the backbone of the economy with a contribution up to 52% of the GDP. SMEs play a crucial role to battle the poverty in the country providing employment opportunities for the youth as the SMEs does not require capital than large firms. Further SMEs increase tax bases much quickly when compared to large firms,” an SLIC news release explained.

“Recognizing the importance and vital contribution made to the economy by SMEs, Sri Lanka Insurance went back to the drawing board to refine the “Business Club” comprehensive insurance solution to cater to the unique requirements of the businesses,” it said.”

“Therefor the insurance solution was developed to reinforce the success and safety of the businesses.”

The insurance plan will provide protection for any businesses be it retail, grocery store, supermarket, pharmacy or any other covering many perils inclusive of environmental dangers such as floods, cyclone, fire, lightning as well as other factors such as breaking and burglary, SLIC explained.

The release further said an array of main covers are available for businesses inclusive of fire and/or lightening, explosion, malicious damage, aircraft damage, earthquakes along with the free covers such as cost of removal of debris, loss of rental, architect, surveyors, consulting engineering fees, cost of alternative accommodation etc..

A range of additional covers are also available at an additional premium for businesses to choose. Money insurance during transit and while at premises, accidental breakage of glass cover, sign board cover, electronic equipment all risk cover are among the many additional covers offered.

Interested parties who’d like SLIC to assist in developing an insurance solution that covers the business risks can contact SLIC call center on 011 2 357 357.

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German fruit and tea importers stresses importance of packaging

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Jan Paul Bethke, a leading German importer of Sri Lankan fruits and tea, at a recent

EDB-organized event, urged Sri Lankan agri-product exporters to practice effective and superior packaging if they are to be successful in terms of capturing markets in Europe.

“If you package your product well, include a QR code (incorporating extensive details such as the farmer who grew products), and convey a personalized story, customers in advanced markets such as Germany and Europe would develop an affinity with your products”, Bethke noted.

He made these remarks at a Jan. 12 forum forum organized by the Sri Lanka Export Development Board (EDB) on packaging and value addition strategies to enhance Sri Lanka’s agri-product exports to Germany, an EDB news release said.

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