• Editor
• July 25, 2024
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President Ranil Wickremesinghe emphasized the crucial role of the Sri Lankan tea industry in transitioning the country towards an export economy. He underscored the need for a comprehensive promotion strategy, developed in collaboration with both public and private sectors. The President noted that “Ceylon Tea” is a world-renowned brand and should be further promoted through a new strategic program. President …

• Editor
• July 25, 2024
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Delmege Lifestyle Cluster, a leader in innovative and sustainable interior design solutions, has been awarded the interior fit-out project for LankaPay’s office premises at No.61 Dharmapala Mawatha, Colombo 7. This project will transform the nine-floor office premises into a functional, sophisticated, and modern complex that reflects its brand identity and futuristic digital landscape. Agreement was signed between Mr. Channa de …

• Editor
• July 23, 2024
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As per the provisional data released by the Sri Lanka Customs, the merchandise export performance in June 2024 amounted to US$ 1,031.2 million, recorded an increase of 2.58 % compared to the month of June 2023. This was mainly due to the increase in earnings from export of Apparel & Textiles, Tea, Rubber based products, Coconut based products, Food & …

• Editor
• July 19, 2024
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President Ranil Wickremesinghe stated that it is not feasible to indefinitely maintain the temporarily suspended Parate law. Consequently, a new bill will be introduced to address bankrupt businesses. The President also mentioned that the proposed bill includes provisions for restructuring loans taken by Micro, Small and Medium Enterprises (MSME). Additionally, a new institution named “Enterprise Sri Lanka” will be established …

• Editor
• July 19, 2024
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Minister of Trade, Commerce, and Food Security Nalin Fernando stated that if the business community fails to pass on government-provided concessions to consumers, price controls will need to be implemented for certain goods. He also announced that proposals to amend the Consumer Act are planned to be submitted to Parliament within the next two weeks. Minister Fernando made these remarks …

• Editor
• July 19, 2024
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President Ranil Wickremesinghe stated that while the government is inviting large-scale investors from both domestic and international sources to explore new investment opportunities in the rebuilding of Sri Lanka, it is also implementing a program to support small and medium-scale businesses that were affected by the recent economic crisis. The President made these remarks during a meeting with representatives of …

• Editor
• July 18, 2024
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EDB in collaboration with Sri Lanka Embassy in Jakarta organized a briefing session to discuss on “Indonesian Investment opportunities for Foreign Investors” with Directorate of Investment Promotion of Indonesia and the Ministry of Investments of Indonesia on 12th July 2024. The main focus of this session was on the construction and power and energy sectors, to provide Sri Lankan industry …

• Editor
• July 17, 2024
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State Minister for Home Affairs, Ashoka Priyantha, emphasized that despite the challenges posed by the COVID-19 pandemic and severe economic crisis, maintaining stable public services without any employee layoffs or salary cuts is a significant achievement. He credited President Ranil Wickremesinghe’s guidance for being instrumental in achieving this stability. Addressing the press briefing titled “Two Years of Progress and Advancement” …

• Editor
• July 16, 2024
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Sri Lanka Purchasing Managers’ Index for Manufacturing (PMI – Manufacturing) recorded an index value of 56.6 in June 2024, indicating an expansion in manufacturing activities. All the sub-indices, except for employment, remained above the neutral threshold during the month. The expansion in New Orders and Production was mainly due to the growth in the manufacture of food and beverages sector. Stock of Purchases also expanded, in …

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• July 16, 2024
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Minister of Power and Energy, Kanchana Wijesekera highlighted that following the revision of electricity prices, there is potential for a reduction of approximately 20% in the prices of goods and services in the market. The Minister further urged the business community to alleviate the burden on the public by lowering prices, starting from midnight on the day of the electricity …