The Industry Development Board (IDB) has inaugurated the Sri Lanka Institute of Industry Professionals (SLIIP), aimed at providing an active platform to address industry-related issues. Operating under the Ministry of Industries, SLIIP is designed to enhance the sector by improving the knowledge, experience, and skills of professionals, according to the IDB. Minister of Industries Dr.
Approximately 300 businesses have expressed interest in establishing operations within Sri Lanka’s Colombo Port City Special Economic Zone, with around 50 applications currently being processed, according to State Minister for Investment Dilum Amunugama. To date, the cabinet has approved approximately 20 firms. The Colombo Port City Commission is responsible for approving significant investments, categorizing them
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
A $1.5 billion Light Rail Transit (LRT) project, previously canceled unilaterally by former Sri Lankan leader Gotabaya Rajapaksa, may be considered as a potential future project, according to Japanese Ambassador to Sri Lanka Mizukoshi Hideaki. Japan recently announced the resumption of 11 suspended projects in Sri Lanka, following the country’s default on sovereign debts and
The Government of Japan has officially decided to resume disbursement for Yen Loan Projects in Sri Lanka, which were suspended following the country’s default in 2022. This decision was announced at a joint press conference by the Sri Lankan Finance Ministry, the Embassy of Japan, and the Japan International Cooperation Agency (JICA) Sri Lanka Office.
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