The newly appointed leadership of Sri Lanka Tourism has set ambitious goals to attract 4 million visitors and generate $8.5 billion in revenue by 2030. These targets were revealed at the World Tourism Day 2024 event held at Cinnamon Grand, where Sri Lanka Institute of Tourism and Hotel Management (SLITHM) and Sri Lanka Convention Bureau
In a letter to Sri Lanka’s newly elected President Anura Kumar Dissanayake, US President Joe Biden expressed a commitment to strengthening ties between the two nations, focusing on economic development, regional security, and democratic governance. The letter, described by Sri Lanka’s President’s Media Division (PMD) as a “significant gesture of diplomatic goodwill,” followed Dissanayake’s recent
A delegation from the Asian Development Bank (ADB), led by Country Director Takafumi Kadono, met with President Anura Kumara Dissanayake yesterday to reaffirm their commitment to supporting Sri Lanka’s economic and social development. During the discussions, the ADB emphasized its ongoing dedication to various projects in Sri Lanka, focusing particularly on bolstering sectors critical to
The Sri Lanka Automobile Component Manufacturers Association (SLACMA) has extended its congratulations to Anura Kumara Dissanayake on his election as the new President of Sri Lanka. The association expressed optimism regarding the National Policy on Production (NPP) and its forward-looking industrial policies aimed at enhancing the automobile industry. Dimantha Jayawardena, the President of SLACMA, noted
The Export and Import (Exim) Bank of Korea has agreed to resume financial support for Sri Lanka’s development projects, according to the President’s Media Division (PMD). The decision was announced during a meeting between Exim Bank of Korea officials and Secretary to the President Nandika Sanath Kumanayake at the Presidential Secretariat on Thursday (03). Financial
CBL Global Foods Limited, a subsidiary of the CBL Group, has teamed up with the United States Agency for International Development (USAID) to enhance the coconut industry by boosting productivity and market access for small and medium-scale farmers. Supported by USAID’s CATALYZE Private Sector Development (PSD) food solutions initiative, this collaboration introduces advanced farming techniques
Port City Colombo announced that Parliament officially passed two key offshore banking regulations, Offshore Banking and Offshore Banking – Prudent Management and Confidence, on September 4, 2024. This significant development aligns with Port City Colombo’s ambition to establish itself as a prominent regional financial centre, attracting increased Foreign Direct Investment (FDI) into Sri Lanka. Seven
Western Automobile Assembly Private Limited (WAA) has proudly announced the opening of its advanced SKD assembly plant in Kuliyapitiya. This state-of-the-art facility, representing a significant investment of approximately USD 27 million, is set to revolutionize local vehicle assembly operations. The plant’s first assembled vehicle, a 15-seater passenger van, is expected to roll out by the
Sri Lankan President Ranil Wickremesinghe has unveiled his 2024 election manifesto, focusing on economic development, reducing the cost of living, creating jobs, raising wages, and improving welfare measures. The manifesto was officially launched on August 29 at the Taj Samudra Hotel in Colombo, in front of politicians, celebrities, and other distinguished guests. The full manifesto,
The Hambantota International Port (HIP) has achieved significant milestones in 2024, with a 40 percent increase in volumes to date. The port’s Commercial and Marketing division forecasts that growth will reach 50 percent by the end of the year. Lance Zuo, General Manager of Commercial and Marketing at Hambantota International Port Group (HIPG), attributes this