Invest In Sri Lanka

According to China’s state planner, China is planning to invest U$ 290 billion in tourism by 2020 for attracting more private investment into the industry. This is a joint release from the NDRC and the China National Tourism Administration, in response to guidelines from the state cabinet to reform the tourism industry. Since tourism infrastructure and public services were “in dire need to be improved”, the National Development and Reform Commission (NDRC) of said they are in the process of planning a batch of key tourism projects and “proactively guide” social capital – Chinas term for private investment - to invest in the industry. [ 73 more words ]

http://www.osltoday.com/china-aims-290-b-tourism-investment-2020/

China aims at $ 290 b tourism investment by 2020 China is aiming for the tourism services purchased in the country to reach $ 1 trillion by 2020, with tourism contributing more than 10% .

In order to help supply a reliable and improved electricity supply to the country achieving 100% electrification in underdeveloped areas and small isolated areas in the Northern Province, the Asian Development Bank has signed an agreement granting a loan of $ 115 million. The project focuses on four major modules: Renewable energy systems development consisting of establishing hybrid renewable energy systems in small isolated islands in the Northern Province and support for productive energy use for people living in small isolated islands and rural communities. [ 96 more words ]

http://www.osltoday.com/adb-gives-loan-assistance-reliable-electricity-supply/

ADB gives loan assistance for reliable electricity supply A reliable & improved electricity supply to the country achieving 100% electrification in underdeveloped areas and small isolated areas.

Research firm Kantar TNS, in their latest monthly poll conducted for LMD business magazine reveals that 53% of the people believe that given the availability of necessary facilities doing business in Sri Lanka is fairly easy. But 40% is of the opinion that it is not so while the rest of the 7% are indecisive. In the islandwide survey, seven-in-10 people think that mainly due to healthy market conditions and the peaceful climate in the country, Sri Lanka is attractive to foreign investors. [ 123 more words ]

http://www.osltoday.com/ease-business-applauded/

Ease of doing business applauded LMD business magazine reveals that 53% of the people believe that given the availability of necessary facilities doing business in Sri Lanka is fairly easy.

At the Consumer Promotion held by Sri Lanka Tourism in partnership with the Sri Lankan Embassy in Malaysia, which started on 13th December, Sri Lanka impressed was able to impress them all by showing her true Sri Lankan sprits. This occasion is being held in parallel to President Maithripala Sirisena’s official visit to Malaysia, on the invitation of the Malaysian Government. [ 169 more words ]

http://www.osltoday.com/sri-lanka-showcased-malaysia/

Sri Lanka showcased in Malaysia At the Consumer Promotion held by Sri Lanka Tourism in partnership with the Sri Lankan Embassy in Malaysia, which started on 13th December,

The United States Agency for International Development (USAID)’s Short-Term Assistance to Improve Public Financial Management Reform Project (STAIR) conducted a series of training sessions for public officials on Improving Transparency in Public Procurement. The training sessions were conducted at the Ministry of Finance’s Randora Auditorium from 17-25 November in collaboration with the Department of Public Finance. Close to 100 public officials in 40 Government Institutions received training to improve transparency in public procurement as a measure to reduce corruption and fraud. [ 111 more words ]

http://www.osltoday.com/training-govt-officials-transparency-pp/

Training for Govt. Officials on transparency in PP The training program included a code of ethics, responsibilities of Cabinet-level procurement committees and the blacklisting of contractors.

This year there were mixed results as the 10th and final session of the Exporters Forum came to a close yesterday. It was organized by the Ministry of Development Strategies and International Trade in collaboration with the Export Development Board (EDB). It provided an opportunity for the private sector representing various industries to participate and interact with the relevant government institutions in order to resolve issues exporters face as well as revamping policies for better coordination between them. [ 205 more words ]

http://www.osltoday.com/mixed-results-recent-10th-exporters-forum/

Mixed results at recent 10th Exporters’ Forum This year there were mixed results as the 10th and final session of the Exporters Forum came to a close yesterday.

A statement issued by the The Ministry of Plantation Industries said that the World Bank will offer $70 million to Sri Lanka in order to modernize the estates and factories of the Regional Plantations Companies (RPCs). The support from the World Bank is a result following the talks Minister of Plantation Industries, Navin Dissanayake and World Bank officials held recently to explore possibility of procuring assistance to upgrade and develop tea plantations that are managed by RPCs to enhance their performance and gain better profit. [ 127 more words ]

World Bank gives $ 70 m to uplift SL’s plantations sector The Ministry of Plantation Industries said that the World Bank will offer $70 million to Sri Lanka in order to modernize the estates.

Plans are underway to revamp the Kandy City in to a more appealing and environmentally friendly city with the intention of attracting more local and foreign tourists. Hence, the following committees have been proposed in order to expedite the transformation process at the earliest: The Bogambara Project The Greater Kandy Development Unit (GKDU) to be established with immediate effect. The 2016 budget allocations of the Ministry of Special Assignment to be used for immediate budgeting purposes including rent out of office space, purchase of equipment, and other operational and miscellaneous costs. [ 92 more words ]

Gearing Kandy City for tourism Plans are underway to revamp the Kandy City in to a more appealing and environmentally friendly city with the intention of attracting more foreign tourists.

It has been observed that on many instances that licenses obtained for projects and approvals have been transferred to others without being implemented. Therefore instructions have been given to relevant institutions to take precautions to make the approvals non transferrable and to make it obligatory to implement the project within a course of 1 year once approvals have been obtained. [ 90 more words ]

Non-transferable govt. approvals for projects It has been observed that on many instances that licenses obtained for projects and approvals have been transferred to others without being implemented.

In order to boost the economy of the country the government is to give priority to speeding up the process of finalizing the FTA’s and the GSP+ by March 2017. Therefore, the government is in the process of organizing FTA’s with more countries and to and a committee has been appointed to look in to the viability with the below listed countries; [ 91 more words ]

Priority to FTAs to accelerate development efforts The FTAs that are already being finalized will open doors to opportunities with international markets, which are presently not accessible for Sri Lankan produce.

Satoko Yahata a prominent businesswoman from Japan was appointed Brand Ambassador for Sri Lanka Tourism in Japan by Tourism Development Minister John Amaratunga. She was recommended by Tourism Advisory Board Chairman Harry Jayawardena. The minister said that Japan had always been a true friend o Sri Lanka and this appointment would further enhance ties between the countries. “The appointment of Yahata will help attract high-end Japanese travellers to Sri Lanka,” the minister said speaking at the event. [ 201 more words ]

Leading Japanese biz lady Brand Ambassador in Japan for SL Satoko Yahata a prominent businesswoman from Japan was appointed Brand Ambassador for Sri Lanka Tourism in Japan by Tourism Development Minister

In order eliminate lengthy red tape procedures for government approvals and to ensure quick and hassle free coordination between various government agencies the government plans to set up an Investment Single Window Committee – ISWC. The ISWC, comprising eight best qualified performers in the field, will help speed up the motions of the FDI sector involved in the mega projects. [ 101 more words ]

ISWC in order to expedite investment approvals The ISWC, comprising eight best qualified performers in the field, will help speed up the motions of the FDI sector involved in the mega projects