During the seventh China-South Asia Expo in Kunming, Yunnan Province, Prime Minister Dinesh Gunawardena engaged in significant discussions with Vietnamese Vice President Tran Luu Quang on August 16.

The Vietnamese Vice President responded positively to the Prime Minister’s request to explore new avenues for trade and investments beyond the current collaborative ventures in both the public and private sectors. He emphasized Vietnam’s substantial development projects, which could potentially generate employment opportunities for skilled Sri Lankan professionals and workers.

Deliberations between the two leaders also centered on expanding cooperation in the agricultural sector, particularly in the domains of rubber, coconut, tea, and fisheries. Additionally, discussions encompassed areas like alternative energy and mining.

Recognizing the potential for increased tourism, the Prime Minister suggested augmenting flight connectivity between the two nations. The Vietnamese Vice President concurred, and both parties agreed to collaborate in promoting tourism, specifically focusing on Buddhist pilgrimage sites. The meeting saw the presence of prominent figures including Vietnamese Ministers and senior officials, Ministers Tharaka Balasuriya, Janaka Wakkumbura, MP Yadamini Gunawardena, and Secretary to the Prime Minister Anura Dissanayake.

Furthermore, Prime Minister Gunawardena held constructive dialogues with Vice Presidents from Indonesia, Myanmar, Nepal, and the Minister of Commerce from the Maldives. These conversations took place alongside numerous foreign representatives participating in the seventh China-South Asia Expo and the 27th China Kunming Import and Export Expo, which boasted participation from 60 member countries of the Regional Comprehensive Economic Cooperation.

The Minister of Labour and Foreign Employment, Manusha Nanayakkara today emphasized the need for a comprehensive multi-stakeholder task force combining relevant ministries and the International Labour Organization (ILO) to implement programmes aimed at the welfare of workers.

The Minister has requested the ILO to conduct a study on the programmes implemented for the welfare of workers by the Ministry of Labour and Foreign Employment. A discussion on the above was held today at the Ministry premises.

It was attended by Imon Brimblecombe, Chief Technical Adviser of the International Labour Organization and Head of the Regional Action Service Unit, and Mariko Ouchi, Senior Social Security Specialist of the ILO, among others.

The minister during the meeting emphasized the need to establish this task force involving all relevant parties including the Ministry of Finance, Ministry of Health, Ministry of Social Empowerment and Trade Unions and Employers’ Associations in addition to various departments of his Ministry.

Also, he emphasized the importance of the ILO acting as an observer and playing a key role in these discussions.

The Ministry has recently taken the necessary steps to implement a comprehensive labour reform programme with the introduction of an unemployment insurance system, maternity benefits, and new methods of providing compensation to workers.

The Minister of Labour and Foreign Employment, Manusha Nanayakkara today emphasized the need for a comprehensive multi-stakeholder task force combining relevant ministries and the International Labour Organization (ILO) to implement programmes aimed at the welfare of workers.

The Minister has requested the ILO to conduct a study on the programmes implemented for the welfare of workers by the Ministry of Labour and Foreign Employment. A discussion on the above was held today at the Ministry premises.

It was attended by Imon Brimblecombe, Chief Technical Adviser of the International Labour Organization and Head of the Regional Action Service Unit, and Mariko Ouchi, Senior Social Security Specialist of the ILO, among others.

The minister during the meeting emphasized the need to establish this task force involving all relevant parties including the Ministry of Finance, Ministry of Health, Ministry of Social Empowerment and Trade Unions and Employers’ Associations in addition to various departments of his Ministry.

Also, he emphasized the importance of the ILO acting as an observer and playing a key role in these discussions.

The Ministry has recently taken the necessary steps to implement a comprehensive labour reform programme with the introduction of an unemployment insurance system, maternity benefits, and new methods of providing compensation to workers.

Sri Lanka is tapping Chinese tourism potential of 372 million in the world to reawaken the Covid-19 and economic crisis battered the hospitality industry of the island nation, tourism ministry sources said.  

Tourism ministry is targeting up to 150,000 tourists from China in 2023, after the country opened outward tourism and is in talks to get more Chinese airlines to fly to Colombo, officials revealed.

“We expect between 140,000 – 150,000 Chinese tourists this year and destinations focusing on sports and adventure are popular with Chinese tourists,” Chalaka Gajabahu, Chairman of the Sri Lanka Tourism Promotion Bureau (SLTPB) claimed. .

He said “As China is an agent driven market, we have done four roadshows in towns across China which has a direct air connectivity with Colombo.”

Sri Lanka was in the first set of countries designated for group travel by China after the country re-opened for tourism after lifting Coronavirus pandemic restrictions.

Chinese tourist arrivals have been one of the key strengths of the Sri Lankan tourism industry. Mainly thanks to an announcement made in February this year by the Chinese Ministry of Culture and Tourism, placing Sri Lanka among the Top 20 countries for tourism.

SRI Lanka Prime minister Dinesh,” Gunawardena  call for a joint effort between our countries to enhance tourism as collectively both countries  have much more to offer.

 Let us not forget that this century belongs to Asia. This is Asia’s century , he said.Prime Minister was  participating as the chief guest at the 7th China-South Asia Exhibition jointly organised by the Chinese Ministry of Commerce and the Yunnan State Government in Kunming.

As of July end, Sri Lanka had welcomed 29, 924 Chinese tourists compared to just 1, 850 in the same period in 2022. Earnings from tourism industry surpassed the US$ 1 billion milestone by end July.

Provisional data from the Central Bank revealed that earnings from tourism for the first seven months of the year totaled US$ 1.094 billion, a 43.1 percent increase when compared with the corresponding period in 2022. 

Latest tourism statistics showed that from 1 January to 10 August, Sri Lanka welcomed a total of 819, 507 international visitors. 

Meanwhile, Gunawardena thanked China for the support extended by them towards Sri Lanka’s debt restructuring.

“We acknowledge with appreciation that China has extended much-needed support in the debt restructuring process, which was essential to secure international support. We are confident that China will extend continued cooperation in the future towards Sri Lanka’s broader economic recovery,” he said.

WindForce PLC, in collaboration with Lakdhanavi Ltd., and The Blue Circle Ltd., is set to undertake Sri Lanka’s largest private-sector renewable energy project. 

This is a 100 MW solar power plant with a transmission facility to be set up in Siyambaladuwa, Monaragala District. 

With a total investment of $ 152 million, this landmark venture represents a significant milestone in the country’s transition towards clean energy, several top officials of the company said..  

Scheduled for completion before the end of 2025, the project will not only enhance WindForce’s installed capacity by nearly 30% but also showcase the expertise and commitment of all consortium partners involved.

The formidable consortium leading this project comprises WindForce, a renowned leader in the renewable energy sector, Lakdhanavi Ltd., the leading independent power producer in Sri Lanka, and The Blue Circle Ltd., a renewable energy company based in Singapore.

 The collective experience, expertise, and dedication of these industry leaders make them the perfect fit for successfully delivering this ground-breaking initiative.

The magnitude of this project is unprecedented. It stands as the largest renewable energy endeavour ever awarded to the private sector by the Ceylon Electricity Board (CEB). 

This significant accomplishment reinforces WindForce’s position as a key player in Sri Lanka’s renewable energy landscape. 

Moreover, this project breaks new ground by being awarded as a single package, incorporating a 100 MW Solar Power Plant, 12 MWh Battery Energy Storage System (BESS), 2×63.5MVA, 132/33kV Grid Substation, and a 27 km, 132/33kV transmission line. 

This holistic and integrated approach ensures the seamless and efficient distribution of clean energy throughout the region.

Setting a new standard in Sri Lanka’s renewable energy sector, the project will include the integration of a BESS with the solar plant. 

This pioneering move will mark the first time such advanced energy storage technology is utilised in the country.

The availability of all required land allocations and approvals as a ready-to-built project reflects the Government’s commitment to facilitating and expediting renewable energy projects. 

This collaboration between the private sector and the Government underlines Sri Lanka’s dedication to creating an enabling environment for sustainable development.

 The dollar-pegged tariff exemplifies the consortium’s transparency and commitment to long-term viability, ensuring the project’s success and continuity.

With a comprehensive approach encompassing a solar plant, BESS, a grid substation, and a transmission line, this initiative showcases the consortium’s expertise and commitment to driving the country’s clean energy transition. 

With the project on track for completion by the end of 2025, Sri Lanka is poised to witness a remarkable leap towards a greener and more sustainable future.

Six apparel manufacturing factories are now being in the fore front of implementing innovative garment production strategy in the Northern and Eastern Provinces for the global market in a big officials of the organizations said. 

Away from the city lights, sitting serenely among the lush green agricultural basin of the country’s North and East, five organisations in particular, are forging a new blueprint for scalable sustainable apparel manufacturing that may prove to be of global relevance.

Six manufacturing plants – MAS Kreeda Vaanavil, MAS Intimates Vidiyal, Hirdaramani Apparel Vavuniya, Omega Line Vavuniya, Brandix Batticaloa, and Eskimo Fashion Knitwear Ltd have each taken the lead to integrate sustainable best practices and institute lean manufacturing principles. 

Their success has brought with it employment, innovation, and most importantly, sustainable growth to a region once devastated by armed ethnic conflict.

Yet what truly sets these organisations apart is their commitment to integrate, adapt and continuously refine sustainable processes, practices and models from the grassroots. 

Each organisation developed every step of their production aligned with their broader goals of augmenting the region’s agriculture-dependent economy without disruption or the sensitive ecosystems connected to it. T

This has, in turn, created sustainable economic growth firmly linked to social development realising value in a realistic green value chain.

For Hirdaramani Apparel Vavuniya, the initial focus was on the integration of sustainable principles into the literal foundations of their operations.

 From the design phase onwards, all construction and engineering were implemented in compliance with green building standards including  an onsite domestic wastewater treatment and a recycling facility.

It ensures that 100% of wastewater from the production process is treated and reused. Further, a rooftop solar of the capacity of 975kW is also installed in this facility.

Similarly, Omega Line Vavuniya was among the first in the region to introduce a comprehensive “Reduce, Reuse, Recycle” approach across all material inputs. 

Today, Omega Line, along with its parent company Calzedonia in Italy, aims to convert its facilities to utilize 100% renewable energy for production by 2030. 

MAS aims to reduce its emissions footprint to achieve an absolute reduction of 25.2% in its Plan for Change, which outlines 12 sustainable commitments through to 2025. These include systemic reduction of direct emissions as well mitigating secondary impacts through carpooling.

As emerging players, Eskimo Fashion Knitwear Ltd is also integrating sustainable best practices across its operations. 

Accordingly, energy-efficient equipment, in-house solar, water management strategies, waste reduction programs, eco-friendly materials and fair labour practices are all integrated into the production chain.  Meanwhile, Brandix transitioned to low Watt VSD Servo Motors saving up to 73% more energy than traditional clutch motors. Upgraded equipment also enabled a 40% saving of pressured air in the ironing process.

Sri Lanka government needs to make improvements to address the entire gamut of financial services that encompass banking, insurance, and non-financial instruments. Colombo Port City Economic Commission (CPCEC) and Board of Investment Chairman Dinesh Weerakkody claimed. 

To ensure that the Colombo Port City has an effective banking regime in the port city, the authorities have completed benchmark studies.

He added that, there is enormous potential for investment in the agriculture, tourism, information technology, renewable energy, and education sectors. 

He says the Government has committed to a wide array of important structural reforms. These include reforms to stabilise the current crisis, such as enhanced revenue mobilization.

It has taken measures to improve tax administration, cost-recovery based energy pricing, safeguard financial sector stability, and a stronger social safety net to protect the most vulnerable. 

Also, reforms to enhance productivity and competitiveness, streamline Sri Lanka’s trade and investment environment, unlock the country’s growth potential, and address governance and corruption issues are a few others, he elaborated..

Referring to the banking sector non-performing loans of Rs 1.4 trillion and corrective action , he noted that  the problem is, billions in impaired tourism, real estate and other assets are sitting on bank balance sheets.

He claimed that awaiting recovery with an improvement in the wider macro environment, which is very challenging.

This pushes banks to redeploy resources away from credit growth and a much needed contribution to the GDP. Banks are vital bedrock institutions in any economy.

They contribute significantly to the development of the economy through facilitation of business.

 Banks also create money and facilitate the growth of savings in the economy. They are instruments of the Government’s monetary strategy, among many others. 

The most important service provided by a bank is the provision of credit.  Credit fuels economic activity, allowing businesses to invest with leverage and beyond their cash on hand, he explained. . 

 Banks should focus more to help revive the economy, not too much on exploiting profit opportunities to invest in financial instruments, which carry risks in conditions of lagging growth. Sri Lanka needs stronger, bigger banks.

 The Government should push for consolidation keeping in view synergies and the benefits of mergers.

EDUCATION MALAYSIA GLOBAL SERVICES is an organization that takes Malaysian education to the world under the Malaysian Ministry of Education and currently 09 Malaysian higher education institutions have come to Sri Lanka and their main objective is to spread Malaysian education in Sri Lanka and provide higher education for Sri Lankan students in Malaysia.

Accordingly, today from 10.00 am to 5.00 pm, a consultation workshop will be held by the officials of the 09 Malaysian higher education institutions approved by the Malaysian Ministry of Education at the Mandarina Hotel premises in Colombo.

Tomorrow (20) this educational workshop will be held at Queens Hotel premises in Kandy from 10 am to 05 pm.

Sri Lankan students who are interested in Malaysian higher education can get all the necessary information about Malaysian higher education by joining this workshop. Those who are close to Kandy and Colombo can also come and get the benefits here. Do not miss this great opportunity and open the valuable door to fulfill your dream of higher education abroad.

Photos: Ajith Seneviratne

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https://www.readphotos.com/photo-stories/591/study-in-malaysia

1. CB weekly data shows that “hot-money” forex investments in Govt Treasuries is continuing it’s rapid exodus in the face of the depreciating currency: foreign investment in Govt Treasuries reduces by over Rs.10.5 bn (USD 36.8 mn) during the week: currency depreciating pressure expected to escalate next week.
2. UNICEF says 85% of Grade 3 children in SL are not achieving minimum proficiency in literacy & numeracy: notes that the country ranks the lowest in South Asia in education spending.
3. Committee on Public Finance instructs Finance Ministry officials to declare the selling price of wheat flour per kg as Rs.198 in order to prevent 2 major companies from making excessive profits and to protect the consumers.
4. President of the Ceylon Teachers Union Priyantha Fernando says over 5,000
   teachers have left the country since Dec’22: also states the teachers who are leaving are mainly those who are teaching English, Science, Mathematics, Technology and IT: warns that if the situation is not arrested soon, it could lead to the education sector collapsing in the immediate future.
5. Minister of Water Supply and Estate Infrastructure
   Development Jeevan Thondaman predicts that the available water reserves would be enough for only the next 2 months: also says the distribution of pure pipe-borne drinking water to consumers has been impacted and only 10% of what was available prior to the sparking of the El Nino situation in the country, is available now.
6. State Minister of Finance Ranjith Siyambalapitiya says the import tax of Rs.75 on 1kg of maize has been reduced to Rs.25: also says the aim is to reduce the price of animal feed using maize.
7. Chairman of the Sectoral Oversight Committee on National Economic and Physical Planning Mahindananda Aluthgamage says it is necessary to promptly amend the Inland Revenue ActIn in order to fortify SL’s fiscal stability and streamline revenue collection by enhancing the state tax mechanism, so that the IMF targets on tax could be achieved: also laments about the underperformance and corruption in the revenue collecting institutions.
8. The parents of the self-styled prophet, Pastor Jerome Fernando apologize for the controversial remarks made by their son:
   call on Ven Omaple Sobhitha Thera to do so: based on Pastor Jerome’s comments, the CID had initiated an investigation on the directives of President Ranil Wickremesinghe and the Colombo Fort Magistrate’s Court had issued an overseas travel ban on the Pastor, who had left the island on May 14.
9. Consultant Judicial Medical Officer Dr. Ruhul Haq, who has been embroiled in controversy for defying a suspension imposed by the Sri Lanka Medical Council, sent on compulsory leave.
10. Schools Rugby League two top teams St. Peter’s College (the only team to remain unbeaten so far), and defending champions Isipathana College battle it out for the League title today at the St. Peter’s ground in Bambalapitiya