Sri Lanka is set to establish a major logistics hub in Trincomalee’s Kappalthurai, targeting heavy industries and aiming to attract up to $1.5 billion in investment. State Minister of Investment Promotion Dilum Amunugama announced the development, highlighting the 600-acre zone’s potential to connect sea, air, and railway cargo freights. This new logistics hub will be
Sri Lanka’s tourism sector has attracted US$ 71.53 million in investment proposals up to August 16th this year, according to the latest data from the Sri Lanka Tourism Development Authority (SLTDA). During this period, 43 investment proposals were submitted, aiming to add 773 rooms to the nation’s hotel stock. As of June 31st, SLTDA had
Sri Lanka’s first-ever seven-star hotel project, Aviyana Private Chalets (Aviyana Ceylon), currently under development in the Udispattuwa area of Kandy, is now inviting investors to participate in its groundbreaking venture. With investments starting at Rs. 5 million, the project promises to significantly boost the country’s economy and tourism industry. To raise awareness about the Aviyana
Sri Lanka has secured Foreign Direct Investment (FDI) agreements totaling $800 million for 35 projects in the first quarter of 2024, according to Investment Promotion State Minister Dilum Amunugama. In a recent interview with Derana TV, Amunugama highlighted that in 2023, Sri Lanka signed FDI agreements worth $1.2 billion following its engagement with the International
Samagi Jana Balawegaya (SJB) MP Eran Wickramaratne has raised significant concerns in Parliament about the obstruction faced by Puttalam Ilmenite Ltd. (PIL) in accessing land owned by the Sri Lanka Cement Corporation (SLCC). PIL has invested over $20 million over the past decade and is now facing hurdles that threaten a $100 million investment—the largest
The Qatar Sri Lanka Business Council was officially launched in Doha, marking a significant milestone in the strengthening of economic ties between Qatar and Sri Lanka. The event, held in the presence of Sri Lankan Ambassador to Qatar Mohamed Mafaz Mohideen, Qatar Sri Lanka Business Council President John Prasad, and other dignitaries, underscored the council’s
A 12-member delegation from Oneroad Group DMCC Dubai, a prominent global investment consortium, concluded a fruitful visit to Sri Lanka from July 7-14, 2024. Led by Chenling Zhang, Group CEO of Oneroad Group, the delegation focused on sectors vital to Sri Lanka’s economic advancement, including tourism, minerals, transportation, and the Colombo Port City project. The
Japanese investors have shown a keen interest in introducing Japan’s latest technology into training programs for Sri Lanka’s maritime and aviation sectors. They also inquired about current investment and entrepreneurship opportunities in these sectors, expressing confidence that the skills and potential of Sri Lankan youth in modern technology could be greatly enhanced through successful implementation.
The completion of the Bingiriya Investment Zone is projected to generate $2.6 billion in export income and create 75,000 job opportunities, stated President Ranil Wickremesinghe during the inauguration ceremony of the second and third phases of the Export Processing Zone in Bingiriya. He emphasized ongoing efforts to establish new investment zones to further bolster the