By: Staff Writer

May 23, Colombo (LNW): Board of Investment (BOI) Chairman Dinesh Weerakkody says that the establishment of a new Economic Commission in Sri Lanka is aimed at strengthening the investment climate and to enhance national competitiveness.

“The Economic commission hopes to create a genuine one stop shop or single window and provides clarity on the key roles of institutions in the investment and export facilitation space and provide the required structure to take fast and effective decisions.

The final goal will be to improve the ease of doing business,” Weerakkody said adding that the National Policy on Economic Transformation is important yowards this end.

The policy will set several key economic targets that include, that GDP must reach 5% per annum by 2027 and increase 5% from then on; the total level of unemployment in the country to be below 5% by 2025.

It will ensure that by 2030 female participation in the labour force must not be below 40%; hold the current account deficit at less than 1% in the event the country experiences such a deficit; and to see a growth in Foreign Direct Investments (FDIs) to reflect 5% of the total GDP by 2030 as well as a shift in FDIs towards the export of goods and services by 2040.

Weerakkody pointed out that to achieve this goal, Sri Lanka needs serious transformation, starting from the regulatory environment, taxation policies, market size and access, strong legal systems.

It enforce contracts and protect intellectual property, Legal and Judicial Framework, skilled and educated workforce, physical infrastructure, roads, ports, effective utilities, strengthen regional value chains, environmental sustainability and improve governance overall in decision making, he said.

On the challenges, Weerakkody noted would be the HR challenges, internal capabilities and structural challenges relating to organisational design and management transformation.

These must be addressed to ensure the effectiveness of the proposed new organisations. The Act, he said, proposes the creation of five new entities: the Sri Lanka Economic Commission, Sri Lanka Investment Zones, and Office for International Trade, National Productivity Commission, and the Sri Lanka Institute of Economics and International Trade.

Talking of trends, Weerakkody noted, FDI is increasingly favouring services over manufacturing, widening the gap between the two sectors and FDI in environmental technologies like solar and wind energy has emerged as the fastest-growing sector outside of services.

Weerakkody also noted Sri Lanka is strategically placed to benefit from a fast-changing global marketplace and trade routes. “We are between Europe and the Far East on the major East-West shipping lanes. 

We have good access to lucrative Middle Eastern markets and rising African markets, while the big growth engine that is India lies just 20 miles away,” he added.

By: Staff Writer

May 23, Colombo (LNW): Sri Lanka-Norway diplomatic relations have entered a dynamic new phase with strengthened ties and bilateral cooperation between the two nations.

Norway, which shut its Embassy in Colombo last year, is now ready to boost bilateral ties with Sri Lanka.

This assurance was given by May-Elin Stener, the Ambassador of Norway to Sri Lanka and India who visited Sri Lanka during 2nd to 9th May, a statement issued Tuesday noted.

The visit marks a pivotal moment in the strengthening of bilateral ties between Norway and Sri Lanka as Ambassador Stener engaged in constructive dialogues with key stakeholders, including, President of Sri Lanka Ranil Wickremesinghe, Foreign Minister Ali Sabry, Opposition Leader Sajith Premadasa, the leader of National People’s Power, Anura Kumara Dissanayake and TNA Member of Parliament, M. A. Sumanthiran.

During her meeting with President Wickremasinghe, Ambassador Stener was briefed on the commendable progress of Norwegian investments and development projects in Sri Lanka. Both parties reiterated their commitment to sustaining the close partnership between the two nations, underscoring mutual interests in various sectors.

A pivotal segment of Ambassador Stener’s diplomatic mission unfolded in discussions with Foreign Minister Ali Sabry, where the positive trends of investments and increasing tourist inflows from Norway to Sri Lanka was discussed. Other crucial topics such as reconciliation efforts, economic reforms, and ongoing Norwegian development initiatives within Sri Lanka were also addressed.

Ambassador Stener also had insightful dialogues with key opposition figures, including Opposition Leader Sajith Premadasa. The topics of discussion revolved around Sri Lanka’s economic priorities, with particular emphasis on fostering collaboration in renewable energy, maritime affairs, and circular economy initiatives.

Acknowledging the diverse political landscape, Ambassador Stener extended her appreciation to Anura Kumara Dissanayake for a substantive exchange of views on Sri Lanka’s developmental trajectory. Both parties explored avenues for bolstering Norway’s contributions to Sri Lanka’s development and reconciliation endeavors, identifying promising sectors for enhanced cooperation.

Ambassador Stener’s visit exemplifies Norway’s steadfast commitment to nurturing bilateral relations with Sri Lanka. She is supported by the Honorary Consul General for Norway in Sri Lanka Mano Sekaram and the consulate office.

Financial aid had been Norway’s most important foreign policy tool and the Scandinavian nation has contributed to Sri Lanka in development assistance since 1965, according to statistics from Norwegian Agency for Development Cooperation (NORAD).

Priority areas of Norway’s assistance to Sri Lanka are also linked to some of the UN’s Sustainable Development Goals (SDGs). In providing development cooperation, noteworthy is Norway’s technical support in the field of fisheries since 1971, which includes fisheries management, research and education, and private sector development with the aim of achieving sustainable management of fisheries resources in Sri Lanka.

By: Staff Writer

May 23, Colombo (LNW): U.S. Ambassador to Sri Lanka, Julie Chung, presented a progressive vision for Sri Lanka’s ports at the Indo-Pacific Business Forum Satellite Event in Colombo, emphasizing the integration of environmental sustainability with economic growth.

“Sri Lanka’s strategic location in the Indo-Pacific region makes its ports a critical hub for international trade,” Chung stated. “By adopting sustainable practices, Sri Lanka can enhance its competitiveness and contribute significantly to global efforts to combat climate change.”

A recent visit by a Sri Lankan delegation to Washington, D.C., facilitated by the U.S. government, underscored this vision. The delegation, led by Sri Lanka Ports Authority Chairman Keith Bernard and Secretary of Ports, Shipping, and Aviation K. D. S. Ruwanchandra, explored sustainable operations at the Port of Virginia and Old Dominion University’s School of Supply Chain and Maritime Logistics.

Drawing parallels with the Port of Long Beach, known for its Green Port Policy, Chung highlighted successful investments in zero-emissions equipment and innovative policies to reduce environmental impacts. “It is our hope to see Sri Lanka’s ports set a regional benchmark by incorporating these sustainable practices,” she noted.

The event featured discussions with industry leaders on technological advancements and policy guidance to support sustainable practices in Sri Lanka’s ports, emphasizing collaboration and knowledge exchange.

Ambassador Chung’s vision for Sri Lanka’s ports reflects a commitment to sustainable development, demonstrating that economic growth and environmental sustainability can go hand in hand. With strategic implementation of green initiatives, Sri Lanka’s ports are poised to become leaders in sustainable operations within the Indo-Pacific region.

The private sector is poised to play a pivotal role in this transformation by providing services and equipment in support of port operations and the greening initiative.

The US Government’s support for Sri Lanka’s ports sector is robust and expanding, the largest contribution being a US International Development Finance Corporation investment of $ 553 million supporting the development of the West Container Terminal.

In addition, the US Embassy is facilitating capacity building programs for SLPA staff in the fields of cyber security, public-private partnerships, operational management, and human resources as it manages expanding port operations in Colombo and across the country.

The US Government’s ongoing support for the ports sector through the US Departments of State, Energy and Defense provides a boost to Sri Lanka’s economy while facilitating supply chain resilience for global trade. 

The event was held at the Courtyard by Marriot and speakers from the diplomatic community, Sri Lankan and Maldivian Government representatives and private sector industry leaders from the ports, shipping, and logistics sectors expressed their views.

By: Staff Writer

May 23, Colombo (LNW): Sri Lanka’s merchandise export earnings have reached a record high of $ 3.98 billion in the first four months of the year, whilst reflecting a 3.55% year-on-year (YoY) increase, provisional data released yesterday by the Export Development Board (EDB) revealed.

This surpasses the previous record of $ 3.95 billion set in the same period in 2019. The all time high $ 4.23 billion was recorded in 2022.

However, April merchandise export earnings declined by 4.10% YoY to $ 814 million, also showing a 29% drop compared to March 2024. Despite this, total exports for April saw a marginal YoY increase of 1.25% to $ 1.14 billion given the strong performance in services export earnings.

In April 2024, the estimated value of services exports was $ 300.41 million, showing a significant increase of 19.28% compared to the same month in 2023.

The strong performance in services export earnings, during the first four months which rose by 6.47% YoY to $ 1.04 billion, contributed significantly to the total export value.

As a result, total export earnings from January to April hit a high of $ 5.03 billion, marking a 4.14% YoY growth.

The EDB’s estimate of services exports includes sectors such as ICT/BPM, construction, financial services, transport and logistics.

Export earnings from tea which made up 12% of merchandise exports, increased by 2.22% YoY to $ 95.46 million in April2024 compared to April 2023. This increase is mainly due to the strong performance of export of Bulk Tea (increased by 12.08%).

Moreover, export earnings from Rubber and Rubber Finished products have increased by 20.18% YoY to $ 66.58 million in April 2024, with the strong performance in exports of Pneumatic and Retreated Rubber Tyres and Tubes (36.09%).

On monthly analysis, export earnings of Coconut based products increased by 17.73% in April 2024 compared to April 2023. Moreover, export earnings of Coconut kernel products, Coconut fibre products and Coconut shell products increased by 26.31%, 10.55% and 9.98% respectively in April 2024 compared to April 2023.

Furthermore, the estimated value of ICT exports is expected to increase by 21.6% to $ 120.69 million in April 2024 when compared to April 2023.

In addition, export earnings from Rubber and Rubber finished products increased by 12.03% to $ 335.0 million in January – April 2024 compared to the same period in 2023 attributed to increased exports of Industrial and Surgical Gloves of Rubber (8.0%) and Pneumatic and Retreated Rubber Tyres and Tubes (17.39%).

Earnings from export of Apparel and Textile have decreased by 2.84% to $ 1,566.39 million during the period of January to April 2024 compared to the same period in 2023. 

May 23, Colombo (LNW): Two days after the arrest of four Sri Lankan nationals suspected of being ISIS operatives, the Gujarat Anti-Terrorist Squad (ATS) announced that all accused have previous charges related to gold and drug smuggling, Indian media reported.

The suspects have been identified as Mohammad Nusrath (33), Mohammad Faris (35), Mohammad Nafran (27), and Mohammad Rasdeen (43), according to India’s ATS.

It added these individuals were allegedly planning terror attacks under the direction of a handler based in Pakistan.

In a press briefing on Wednesday (22), Gujarat ATS Superintendent of Police Sunil Joshi revealed that Nusrath had previously been apprehended twice at Mumbai airport for gold smuggling.

He also faces charges of assault and narcotics offences in Sri Lanka. Faris has narcotics-related offences in Sri Lanka and has been incarcerated there.

Rasdeen has been arrested for theft and three drug-related offences. Although Nafran has not been previously arrested, he admitted to smuggling gold and drugs from Dubai and Sri Lanka.

Joshi added that Faris and Rasdeen were visiting India for the first time, while Nusrath and Nafran had visited India frequently, with 38 and 40 visits respectively between 2022 and 2023.

Despite their frequent travels, this was their first visit to India since establishing contact with their handler in February. Investigation teams have been formed to examine the details of their previous visits.

The ATS discovered three pistols and 20 cartridges at Nana Chiloda, reportedly linked to the suspects, who were instructed by their handler, identified as ‘Abu’, to collect the arms and stay in a low-profile budget hotel.

In response, Sri Lankan Police announced on Wednesday that a senior deputy inspector general will lead a team to investigate the four citizens arrested in Ahmedabad.

Sri Lanka’s Police spokesman and senior superintendent Nihal Thalduwa confirmed that Inspector General Police Deshabandu Tennakoon has appointed this team.

May 23, Colombo (LNW): A group of animal rights advocates has lodged a Fundamental Rights petition with the Supreme Court, challenging the authorities’ failure, including that of the Department of Wildlife Conservation, to effectively address the human-elephant conflict and reduce annual elephant fatalities.

The petition was filed by Justice for Animals and Nature, Ven. Omalpe Sobhitha Thera, President’s Counsel Anura Meddegoda, the Sri Bodhiraja Foundation, Animal SOS Sri Lanka, Dr. Ajantha Perera, and Iranganie De Silva, through Attorney-at-Law Manjula Balasuriya.

The petitioners are seeking a directive for Sri Lanka Railways to implement a plan to decrease the number of elephant deaths resulting from train collisions.

According to the petition, inquiries with the Department of Wildlife Conservation revealed an elephant population of 5,879, including 55 adult tuskers, based on the 2011 First Islandwide National Survey of Elephants.

The Agriculture Ministry, however, estimates the wild elephant population to be around 7,000.

In contrast, the International Union for Conservation of Nature (IUCN) and the World Wildlife Fund (WWF) estimate the population to be between 2,500 and 4,000, classifying the Asian elephant as an Endangered (EN) species on the IUCN Red List.

The petition highlights that habitat destruction and fragmentation due to land grabbing, improper land use, acquisition of residual forests, and inadequate urban planning have confined wild elephants to smaller forested areas, exacerbating the human-elephant conflict.

The petition further details that elephants are frequently killed by falling into trenches and agricultural wells, sustaining injuries from gunshots and hakka patas, train accidents, and electrocution.

A table within the petition illustrates the causes of elephant deaths in 2022.

The petitioners are also seeking a court order directing the implementation of the “National Action Plan for Human Elephant Conflict Mitigation.”

May 23, Colombo (LNW): The Cabinet has approved a proposal to elevate the Karapitiya Teaching Hospital to the status of a National Hospital, announced Cabinet spokesman, Minister Bandula Gunawardane.

The decision was disclosed during the weekly media briefing on Cabinet decisions.

The Cabinet Paper proposing this significant upgrade was presented by Health Minister Ramesh Pathirana.

Gunawardane highlighted that Karapitiya Teaching Hospital will become the third National Hospital in Sri Lanka, joining the ranks of the National Hospitals in Colombo and Kandy.

He elaborated on the importance of this development, stating that the elevation of Karapitiya Teaching Hospital to National Hospital status is a strategic move to enhance the healthcare infrastructure in the southern region of the country.

This upgrade is expected to provide advanced medical facilities and specialised services, reducing the need for patients in the south to travel to Colombo or Kandy for complex medical treatments.

May 23, Colombo (LNW): President Ranil Wickremesinghe has conveyed a poignant message for Vesak, highlighting the festival’s deep spiritual significance for Buddhists worldwide.

Vesak, which commemorates the birth, enlightenment, and passing of the Buddha, is celebrated with profound devotion by Buddhists in Sri Lanka and across the globe.

During this sacred period, they engage in religious observances and venerate the Buddha with fervent devotion.

In his message, the President emphasised the importance of embodying the same great zeal for enlightenment that the Buddha exemplified.

He cited the Buddha’s sermon, “Maththasukha parichchaga- passé che vipulan sukhan,” which encourages sacrificing today for a better tomorrow.

This, he suggested, is particularly pertinent in the current challenging times the nation faces.

The President reminded the nation of the Buddha’s advice, “Sabbattha Sammanaso,” urging everyone to treat each other equally.

He called for this principle to be actively practised, stating that it is the greatest offering that can be presented to the Buddha on Vesak.

The President underscored the need for unity, regardless of race, religion, caste, or political affiliation, to heal and rebuild the country. He invoked the principles of Lichchavi Raja Dharmaya as a guiding framework for this endeavour.

Full Statement:

“The Vesak festival is a profoundly sacred day for Buddhists worldwide, commemorating the Buddha’s birth, enlightenment, and passing. Buddhists in Sri Lanka, along with their brethren around the globe, celebrate Vesak with deep devotion. They spend this period engaging in religious observances and venerating the Buddha with fervent devotion.

At this challenging moment, we as a nation should cultivate the same great zeal for enlightenment that Buddha exemplified, inspired by his sermon, “Maththasukha parichchaga- passé che vipulan sukhan” – to sacrifice today for a better tomorrow.

We must remember the advice of Lord Buddha, “Sabbattha Sammanaso,” to treat everyone equally and ensure we put it into practice as a country. This is the greatest offering we can present to the Buddha on this Vesak day. Regardless of race, religion, caste, or political affiliation, we must all unite to heal and rebuild our country. The principles of Lichchavi Raja Dharmaya will guide us in this endeavour.

Let us keep in mind that the primary aim of the Vesak festival is to foster spiritual growth and character development in a world rapidly advancing physically. I wish everyone a blessed Vesak festival.”

May 23, Colombo (LNW): The Ceylon Electricity Board (CEB) has reported over 36,900 power breakdowns affecting more than 300,000 consumers over the past three days due to inclement weather.

Additional service staff have been deployed to address the breakdowns, Minister of Power and Energy Kanchana Wijesekara

In a post on ‘X’, the Minister confirmed that the CEB management and service staff are working around the clock to restore power to the affected consumers.

Minister Wijesekara also advised consumers who are unable to report power interruptions via the CEB hotline 1987 to use the SMS option by texting ‘breakdown’ followed by the electricity consumer number to 1987.

Alternatively, consumers can report issues through the CEB Care app or by visiting http://cebcare.ceb.lk.