Category: Economy
Lankapak 2018 concludes with Rs.10Mn initiatives launched to boost SME packaging
Sept 17, 2018 (LBO) – Sri Lanka’s Lankapak 2018 concluded over the week-end with strong Indian participation and 10 million rupees initiatives launched to boost SME packaging, competitiveness in the island. “Printing and packaging are important elements in branding Sri Lanka to the global markets, especially for our SMEs striving for international markets,” said Rishad Bathiudeen, minister of industry and […]
Unilever and UNDP handover PPP policy paper to President’s secretary
Sept 17, 2018 (LBO) – Outlining plans to support Sri Lanka in achieving the Sustainable Development Goals, Unilever Sri Lanka and United Nations Development Programme (UNDP) handed over a policy action paper for the promotion of public private partnerships for sustainable development to the secretary to President. The policy paper highlights the immediate next steps that […]
Sri Lanka to introduce an investment law for single window facilitation: PM
Sept 14, 2018 (LBO) – Sri Lanka will bring in a new legislation for the Single Window Investment Facilitation model, Prime Minister Ranil Wickremesinghe said. The government, a few months ago established a Single Window Investment Facilitation Task Force (SWIFT) to fast-track investments through a virtual one-stop shop. Speaking at the Economic Summit 2018, Wickremesinghe said […]
We are not exporting at least 60 products under GSP+ list of 6,000 items: PM
Sept 14, 2018 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe on Friday draw the attention of the country’s top business leaders, the underutilized opportunities they have to enter into the international market. Wickremesinghe took the example of Vietnam that expanded mainly because of the Korean investors followed by Japan and China and FTAs with […]
‘s economy on track : Eran
Sept 14, 2018 (LBO) – Sri Lanka is not looking at diverting from the path of its ongoing fiscal consolidation measures and would take further necessary steps to achieve set growth targets, state minister of Finance Eran Wickramaratne said. He was speaking at the Sri Lanka Economic Summit organised by the Ceylon Chamber of Commerce […]
Sri Lanka needs to move from buyer to producer driven production : Harsha
Sept 14, 2018 (LBO) – Sri Lanka must diversify exports and shift to making more complex, high-value products, Harsha de Silva, state minister of National Policies and Economic Affairs said. “It is not possible for us to carry on growth if we do not make a turnaround; we have to change the way we do business. […]
Balancing China and India partnerships and diversifying exports key for Sri Lanka
Sept 13, 2018 (LBO) – Sri Lanka needs to balance geopolitical partnerships while also managing several other key aspects of its economy like structural weaknesses, limited export performance, constrained public finances and regulatory barriers to investment, Arun Kumar, chairman and chief executive of KPMG India said. So what are the aspects that to be considered?, […]
Sri Lanka Economic Summit 2018 kicks off today
Sept 13, 2018 (LBO) – Sri Lanka Economic Summit 2018 is being inaugurated this morning at Cinnamon Grand Colombo. The two-day event, which is Sri Lanka’s foremost economic summit and organized by the Ceylon Chamber of Commerce for the 18th consecutive year, will be held on the theme of ‘On the Fast Track to a […]
Sri Lanka industrial index up 1.1-pct in July 2018
Sept 13, 2018 (LBO) – Sri Lanka’s industrial production index grew by 1.1 percent to 105.9 from an year ago, data from the Census and Statistics Department shows.The Index of Industrial Production recorded a value of 104.8 in 2017 July. Food production grew 0.1 percent in July to 103.6 index points from a year earlier.Apparel […]
Sri Lanka to be promoted as year round destination with ‘Island Escapes’ campaign
Sept 12, 2018 (LBO) – ‘Island Escapes’, a marketing campaign to promote Sri Lanka as a year-round destination to boost arrivals during off season will be launched later this week, the Tourism Minister said. “The official launch of the campaign will take place on 15 September and will be targeting specific countries,” Minister of Tourism […]
VAT refund scheme to boost tourism in Sri Lankas: Fin Min
Sept 12, 2018 (LBO) – The tourist VAT refund scheme (TVRS) will enable Sri Lankan goods to have greater exposure to the global market, bringing with it several positive economic spill overs, the Finance Minister said. “The TVRS has a particular importance for enhancing the attraction of Colombo as a destination,” Mangala Samaraweera, minister of Finance and […]
Sri Lanka Fin Min hikes fuel price: Petrol Rs.149 and Diesel Rs.123
Sept 11, 2018 (LBO) – Sri Lanka’s Finance Ministry has raised the petrol price to 149 rupees a litre from 145 rupees with effect from midnight September 10 and diesel to 123 rupees from 118 rupees. The Retail Prices of Auto Fuel is as follows: Type of Fuel Present Price Revised Price (Rs.) Petrol 92 […]