Sri Lanka’s state-owned sugar companies are facing a significant challenge with unsold ethanol, as demand for legal alcohol has plummeted following the country’s economic crisis and recent tax increases, according to State Minister for Investment Promotion Dilum Amunugama. State-run Lanka Sugar, which operates the Sevenagala and Pelwatte companies, is now burdened with 1.3 million litres
The Ceylon Chamber of Commerce has unveiled its groundbreaking policy document, ‘Vision 2030,’ which outlines a strategic plan for Sri Lanka’s sustainable and inclusive development by 2030. The document was first presented to President Ranil Wickremesinghe and will also be shared with political leaders, the Central Bank Governor, and the Treasury Secretary to encourage a
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
The Cabinet of Ministers has approved a proposal from the President, in his capacity as the Minister of Investment Promotion, to instruct the Legal Draftsman to prepare a bill for amending the Port City Economic Commission Act No. 11 of 2021. The amendments aim to enhance the global competitiveness of the Port City by addressing