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
Cyber heist at External Resources Dept: Funds diverted in email hack, CID probe underway
A suspected cyber fraud targeting Sri Lanka’s Department of External Resources has triggered a high-level investigation after hackers allegedly manipulated official email communications to divert funds to unauthorised overseas accounts, Deputy Finance Minister Dr. Anil Jayantha Fernando said.
The sophisticated breach is believed to have involved the interception and alteration of email exchanges between the Department and Export Finance Australia, raising serious concerns over vulnerabilities in the Government’s digital financial communication systems.
According to the Deputy Minister, the fraud came to light following suspicious changes detected in bank account details linked to a payment transaction involving India. This anomaly prompted officials to scrutinise prior correspondence, eventually uncovering what appears to be a coordinated cyber intrusion designed to reroute funds.
“This was not a routine technical glitch. There is clear indication of external interference where communication trails have been tampered with,” Jayantha said, noting that complaints had already been lodged with law enforcement authorities.
“Investigations are now being handled by the Criminal Investigation Department (CID), which is probing the extent of the breach, the financial losses incurred, and the possible involvement of international cybercrime networks”.
Financial analysts warn that the incident underscores growing risks faced by state institutions engaged in cross-border financing arrangements, particularly when relying heavily on unsecured or inadequately protected communication channels.
The Department of External Resources plays a pivotal role in managing Sri Lanka’s foreign-funded projects and liaising with international lenders and export credit agencies. Any compromise in its communication systems could have far-reaching implications for investor confidence and the country’s financial credibility.
Authorities are expected to review existing cybersecurity protocols across key financial institutions in the wake of the breach, with calls mounting for tighter safeguards, encrypted communications, and multi-layer verification systems for fund transfers.
Meanwhile, officials remained tight-lipped on the exact quantum of funds involved, citing the ongoing nature of the investigation. However, sources indicated that the attempted diversion was significant enough to raise alarm at the highest levels of the Finance Ministry.
The incident adds to a growing list of cyber-related financial threats confronting governments worldwide, highlighting the urgent need for robust digital governance frameworks as Sri Lanka continues to engage with international financial partners.
By Ifham Nizam
Business
Sun Siyam Pasikudah marks the New Year at the shore of Sri Lanka’s rising coast
There is something about Avurudu that naturally fills every corner of Sri Lanka with energy and connection, and this year, that spirit extended to the shores of Pasikudah. At Sun Siyam Pasikudah, part of the Prive Collection within The House of Siyam, the Sinhala and Tamil New Year was celebrated on 14 April with a vibrant, full day programme that brought together guests and team members in true festive spirit, warm, lively, and centred around shared traditions and generous feasts.
The day followed the rhythm that Sri Lankan families know well. At the auspicious hour determined by the almanac for the New Year, the hearth at The Kitchen was ceremonially lit and the milk pot set to boil, symbolising warmth, unity, and the drawing in of abundance for the year ahead. This followed another auspicious moment at noon where a Traditional Sweet Table was laid out, where kiribath, kokis, kavum, aasmi and more were on offer, prepared by the resort’s culinary team and enjoyed by guests who had gathered, some for whom this was the most natural thing in the world, and others encountering the tradition for the very first time.
From 3:00 PM onwards, the afternoon opened into games. The resort grounds hosted the full run of Avurudu classics: Kana Muttiya (Pot Breaking), Kaba Adeema (Tug of War), Banis Kama (Bun Eating Contest), Balum Pipirawima (Balloon Blowing), Kotta Pora (Pillow Fighting), the Sack Race, Spoon Race, Blindfold Yogurt Feeding, Eyeing the Elephant, and Finding the Coin on the Plate. Guests of all ages joined in, and the kind of laughter that filled the afternoon is really the only way to describe what Avurudu at its best feels like.
“Avurudu is one of those occasions where the feeling in the air does all the work. The auspicious timings, the lighting of the hearth, the sweet table, the games in the afternoon: each of these carries its own meaning, and when you observe them properly and together, the day takes on a quality that is hard to replicate at any other time of year. We wanted our guests, wherever they had travelled from, to feel genuinely part of that, not simply watching from the outside. I think the day showed that Pasikudah is a place where that kind of celebration feels entirely at home,” said Arshed Refai, General Manager, Sun Siyam Pasikudah
The celebration is also a reflection of a broader moment for this stretch of the Sri Lankan coast. Pasikudah has long been known among those who seek it out: a bay of extraordinary calm and clarity, unhurried in a way that the island’s busier coastal destinations rarely are. What has shifted in recent years is that more people are finding it. Sri Lanka welcomed over 600,000 international visitors in the first quarter of 2025, generating tourism revenue of USD 1.025 billion, and the East Coast is increasingly part of that conversation. Sun Siyam Pasikudah has been central to placing Pasikudah on that map.
The resort’s 34 pavilions, offered in one and two bedroom configurations across garden and beach settings, are styled in a way that is quietly striking: monochrome interiors with warm golden accents, spacious and well-considered, always with the ocean close by. Dining is spread across The Kitchen, The Cellar, The Slice and Grill, The Tea House, and The Bar, with destination dinners available for guests who want a private evening under the stars. Sailing excursions along the coastline, spa and wellness, and encounters with local arts and crafts complete what Sun Siyam Pasikudah offers throughout the year.

Business
Allianz Avurudu Negam returns, easing the journey home
During the Sinhala and Tamil New Year, a time defined by togetherness, tradition and returning home, Allianz Insurance Lanka Limited once again stood alongside Sri Lankan communities by continuing its Avurudu Negam initiative for the second consecutive year, expanding its reach to support families during the festive travel period.
Building on the positive response to last year’s programme, Allianz Avurudu Negam 2026 was shaped to make the journey home special and loved during Avurudu. In response, Allianz offered ticket refunds to eligible passengers travelling on the Galu Kumari service from Maradana, supporting passengers journeying home to celebrate the New Year with loved ones.
Passengers boarding from Maradana and Fort and travelling beyond Galle up to Belliatta were eligible for the refund, helping make the journey home more affordable at a meaningful time of year. Acknowledging that financial strain frequently continues even after the celebrations conclude, Allianz extended the refund window until 30th April, easing the cost of returning to Colombo after Avurudu.
To complement this support, Allianz added a heartfelt touch rooted in New Year tradition. Traditional oil cakes were distributed to passengers boarding from Maradana, allowing families to take a familiar symbol of Avurudu back home and share it around their festive tables.
Allianz also prioritised protection during this period. Passengers eligible for the refund were given the option to obtain free Allianz Personal Accident Insurance, reflecting the belief that protection does not end with a journey, but continues wherever people go. In addition, these passengers were included in an LKR 1 million raffle draw, as an extension of the existing campaign, offering one winner shopping vouchers redeemable at outlets of their choice and support that extends beyond the New Year season.
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