Business
Vietnamese Foreign Minister highlights potential for Vietnam-SL economic cooperation
Vietnamese Foreign Minister, Bui Thanh Son, had a bilateral meeting lasting nearly 60-minutes with Ambassador for Sri Lanka in Ha Noi, Prof A. Saj U. Mendis, at the ministry head office. The primary objectives of the meeting with the Foreign Minister were to discuss and explore possibilities and avenues to enhance and aggrandize economic, commercial, investment, touristic and trade dimensions and other concomitants of foreign policy issues, particularly, in the context of multilateral cooperation and Sri Lanka’s entry into the largest trading bloc, known as the Regional Comprehensive Economic Partnership (RCEP), among others matters.
A press release issued by Sri Lankan embassy in Vietnam said: ‘Ambassador Mendis expressed appreciation to the Government of Viet Nam and to Minister Bui Thanh Son for the assistance and cooperation extended to Sri Lanka including its support at the Human Rights Council in Geneva. Minister further stated that the bilateral relations in the context of political relations have reached basically the maximal plateau between the two countries and it is of the intrinsic interest of both the countries to translate and transform the political utility to economic utility.
‘Ambassador Mendis stated that, today, Vietnam is among the fastest growing economies in the world and attracts and woos the largest percentage of FDI in comparison to the GDP. This is stated in the context that Vietnam attracted USD 22 billion in 2022 and this year, Vietnam anticipates FDI in the vicinity of USD 28-30 billion. In other words, this figure is over 6% of the GDP of Vietnam, which is the highest percentage of FDI vis-à-vis the GDP of any country. Ambassador Mendis stated that many international economists and analysts have coined terms such as “Miracle on Mekong region”, “Mecca for FDI and manufacturing” and “China plus One” referring to the rise and profile of Vietnam.
‘The Foreign Minister explained that Vietnam had to overcome three issues in order to advance its current status; firstly, infrastructure, secondly, developing soft infrastructure, such as human capital and digital transformation, and thirdly, formulation of foreign policy with reforms in the country that support integration with other countries. Vietnam wishes to exploit and leverage the potential of Sri Lanka in a myriad of sectors and realms. Since the trade between the two countries is at a modest level of around USD 350 million, both countries should have a lucid and focused objective to advance it to USD 500 million within the next year, and then reach USD 1 billion, in the foreseeable future.
‘The minister accentuated the vitality of tourism, since Vietnam is highly focused and is one of the most sought-after touristic destinations in the world, attracting over 10 million tourists in a given year. In this scenario, minister suggested that Sri Lanka and Vietnam could have bilateral tourism since very few Vietnamese travel to Sri Lanka despite the amazing and “riveting” natural beauty and fauna and flora, among others. In the context of air connectivity, the minister stated that direct flights maybe difficult to operate but they could operate charter flights since both the countries have a large Buddhist population. He also added that in 2022, approximately 10 million Vietnamese traveled out of the country, mostly to ASEAN, China, Japan and Europe and very few have traveled to Sri Lanka. Ambassador added that if Sri Lanka could capture 0.2%, it would translate to 20,000, which the minister too agreed needed to be aimed at.
‘The ambassador discussed that the augmentation of Vietnam within a space of two decades was primarily due to its 17 FTAs and Comprehensive/Strategic Partnership Agreements. In this context, Ambassador Mendis too echoed and resonated the sentiments expressed by Sri Lankan Foreign Minister in Jakarta of the deep interest that Sri Lanka has in joining the 15-member RCEP. The minister stated that Vietnam would fully and unreservedly support the application of Sri Lanka to join the RCEP. Amb. Mendis also enunciated the interest of Sri Lanka to have an FTA with Vietnam as both the countries could benefit with regard to bilateral trade.
‘Ambassador Mendis did underscore that both Sri Lanka and Vietnam had exports amounting to around USD 750 million in early 1980s, whereas, today the exports of Vietnam are in the vicinity of USD 370 billion and Sri Lanka is still hovering around USD 12-13 billion. The minister was visibly and discernably keen in enhancing and augmenting bilateral trade as well as bilateral investments between the two countries. Both the minister and ambassador, along with the respective delegations, agreed to exert the efforts and labour in a concerted, determined and proactive manner, thus elevating and deepening, mostly, economic and commercial activity between the two countries.’
Business
SLT-MOBITEL driving Sri Lanka’s economic resilience through digital infrastructure
Corporate accolades underscore the alignment between its operational excellence and national development
In an era where national competitiveness is intrinsically tied to digital connectivity, strengthening the country’s digital backbone has become an urgent priority. Within this context, the evolving role of Sri Lanka’s leading telecommunications provider, SLT-MOBITEL, offers valuable insight into how technological infrastructure can underpin broader economic resilience.
Telecommunications and digital networks are foundational to economic transformation. By expanding high-speed broadband access, upgrading enterprise cloud capabilities, and bridging the urban-rural connectivity divide, SLT-MOBITEL helps reduce business transaction costs, streamline supply chains, and enable micro, small, and medium enterprises to reach global markets.
Recent corporate accolades further underscore this alignment between operational excellence and national development. SLT-MOBITEL’s triple triumph at the National Business Excellence Awards 2026 – winning in the Infrastructure and Utilities sector, Performance Management, and ICT Services categories – highlights its growing impact. Notably, the recognition of eChannelling’s contributions to digital healthcare reflects a broader strategic pivot toward integrated technology solutions.
“Institutional efficiency of this nature is critical for attracting foreign direct investment, as global partners increasingly assess a country’s digital maturity and systemic stability before committing capital,” noted industry observers.
Moreover, the company’s transition from a conventional telecom utility to a comprehensive digital solutions provider aligns seamlessly with Sri Lanka’s national digitalisation agenda. As the country pursues public sector modernisation, enhanced e-governance, and a competitive knowledge economy, the private sector must step up to deliver secure, scalable, and future-ready networks. Investments in data centres, cybersecurity frameworks, and advanced ICT infrastructure act as strategic buffers, ensuring that Sri Lanka’s economic apparatus remains agile and resilient amid future global uncertainties.
However, industry experts caution that while these achievements are commendable, SLT-MOBITEL still has a considerable distance to cover in fully enabling a truly digital economy.
Business
Port City Colombo strengthens Gulf investment ties at Dubai diplomatic engagement
Port City Colombo (PCC) took a prominent role as Platinum Sponsor at the second edition of Sri Lanka Beyond Your Dreams, a high-level diplomatic and investment engagement hosted by the Consulate General of Sri Lanka in Dubai and the Northern Emirates. The event, held on 2nd September 2026 at the Hilton Dubai Al Habtoor City, brought together over 400 senior UAE-based business leaders, investors, diplomats, and institutional stakeholders, alongside Sri Lanka’s most senior government representatives.
The gathering was graced by Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, as Guest of Honour, and Vijitha Herath, Sri Lanka’s Minister of Foreign Affairs, Foreign Employment and Tourism. A high-level Sri Lankan delegation – including the Secretary to the Prime Minister, the Chairman of the Board of Investment, the Chairman of the Export Development Board, and the Director General of Commerce – underscored the government’s strong commitment to deepening economic diplomacy with the UAE.
In his keynote address, Minister Herath reaffirmed the centuries-old ties between Sri Lanka and the Arab region, emphasising the UAE’s vital role as a key economic partner. He stressed the urgency of finalising a Comprehensive Economic Partnership Agreement (CEPA) with the UAE, which would establish a robust framework to elevate trade, investment, and bilateral cooperation. Declaring Sri Lanka “open and ready for business,” he positioned Port City Colombo as the physical embodiment of this economic mission – a modern Special Economic Zone (SEZ) with a dedicated legal framework and competitive incentives, offering UAE investors a natural gateway to South Asia while maintaining strong Gulf connectivity.
Business
American Premium Water strikes Gold at Dragons of Sri Lanka 2026
American Premium Water has secured four wins at Dragons of Sri Lanka Awards 2026, including three Gold Dragons and one Black Dragon, marking a significant milestone for the brand following its relaunch last year.
Part of the prestigious Dragons of Asia awards, Dragons of Sri Lanka brings the program’s regional platform to the local market, celebrating creative and effective marketing communications, with entries evaluated on strategic thinking, creativity, execution and impact. Established in 2000, Dragons of Asia is one of Asia’s premier results-driven marketing awards programs.
For American Premium Water, the achievements are particularly significant given that the company’s debut at the Dragons awards has resulted in four Dragons across four categories. In the distinction of Gold Dragons, American Premium Water was recognized across three categories including Product Launch or Re Launch, Cause, Environment or Sustainability and Creative Excellence while the Black Dragon was awarded in recognition of Small Budget.
Competing alongside leading brands and agencies in Sri Lanka, American Premium Water’s four wins demonstrate the strength and effectiveness of its recent work. Winning three Gold Dragons across three distinct categories highlights the breadth of the brand’s achievements, while the Black Dragon for Small Budget further emphasizes its ability to create meaningful impact through focused and efficient investment.
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