Chamber of Commerce Archives

June 6, 2023

The president of the Federation of Bangladesh Chambers of Commerce and Industry FBCCI Md. Jashim Uddin has taken the charge as the president of the SAARC Chamber of Commerce and Industry (SCCI), the apex trade body of the South Asia. He will be serving the SCCI as its president for the term 2023-24. The SAARC CCI arranged a colorful event held on 25 May 2023 at the Hotel Intercontinental in Dhaka in this regard.

The New President of SAARC CCI Md. Jashim Uddin said that South Asia with its diversified resources and skilled workforce has tremendous potential be the fastest-growing exporting region to the globe. As we begin this new tenure, our region is experiencing rapid economic growth, but we must also confront a range of complex issues and barriers to trade that limits cross-border regional trade.

The Intra-trade among SAARC countries continues to be low ranging between 5-7% of total trade. In addition, this is declining every year. On the other hand, we are seeing increased integration in other regional blocks. Intra-regional trade is over 40% in NAFTA, 68% in EU, 27% in ASEAN. Their economic integration is directly tied to their GDP per capita, higher productivity and, lower poverty and unemployment, he added.

The new SCCI president said that it is imperative for us to draw lessons from the successes achieved by other regional agreements, and channel their experiences of regional identity and solidarity into our efforts to propel SAARC towards new heights.

it is our responsibility to find innovative and sustainable solutions to these challenges, and to work together to create a brighter future for the people of our region, he opined.

The priority will be given to enhance collaboration on sectors with high growth potential such as information technology, manufacturing, energy, tourism, and agribusiness that derive tangible results, the SCCI President added.

While speaking as the Guest of Honor Foreign Minister Dr. A.K. Abdul Momen said, Bangladesh always promotes trust and friendship among neighbors. South Asia is one of the fastest-growing economies in the world. We have a lot of potential, but unfortunately, we are still lagging behind to seize all the opportunities.

Foreign Minister said that the close partnership of the business communities can bring economic prosperity to South Asia. Tariff and Non-tariff barriers should be decreased. I hope SCCI will play a significant role here.

Salman F Rahman said that there is huge potential in South Asia, but unfortunately, we are facing some artificial political barriers. We need the address these problems to make the South Asian region a prosperous one. The SCCI can make the chance to get advantage of the regional benefit.

FBCCI Senior Vice President Mostofa Azad Chowdhury said that SAARC CCI is the only platform for the South Asian Business Community to network, collaborate and foster partnerships with the common business people of the region.

For inclusive economic growth in the SAARC region, SAARC CCI has the responsibility to identify the existing bilateral and multilateral tariff and non-tariff barriers, connectivity, and other challenges, he added.

Md. Jashim Uddin was born to a well-reputed business family on January 1, 1965, in Sonaimury, Noakhali, Bangladesh. He is the son of the late Al-Hajj Idris Miah and the late Tahera Begum. He completed his graduation with a Bachelor of Commerce from the University of Dhaka in 1986.

During his graduation from university, Jashim Uddin joined the Board of Bengal Group of Industries as Director in 1983. Bengal Group is a diversified conglomerate with interests in a variety of sectors, including plastics, pharmaceuticals, and renewable energy. He is the Chairman of Bengal Commercial Bank Limited. He is the Vice-Chairman of the Board of Directors of the Bengal Group of Industries & Bengal Media Corporation (RTV).

Jashim Uddin is a prominent leader in the business community of Bangladesh. He is the current president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), the apex trade body of Bangladesh. He is also the president of the Bangladesh Plastic Goods Manufacturers and Exporters Association.

The new SCCI President Md. Jashim Uddin has received numerous awards and recognition for his contributions to the business community and the economy of Bangladesh. He was awarded the Commercially Important Person (CIP), the Best Enterprise Award, “Prime Minister’s National Export Trophy-Gold” several times due to his contributions to the country’s economy. He has also achieved the “President Industrial Development Award -2009” & “Best Enterprise Award-2007”

Jashim Uddin is a visionary leader who is committed to improving the lives of the Bangladeshi people. He is a strong advocate for economic development, and he believes that the private sector can play a key role in creating jobs and improving the lives of the Bangladeshi people.

President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Irfan Iqbal Sheikh, Former President of SAARC CCI (Sri Lanka) Macky Hashim, Former President of SAARC CCI (Sri Lanka) Ruwan Ediringehe, Former Cabinet Minister of the Government of Maldives Mariyam Shakeela, Former President of SAARC CCI (Sri Lanka) Ruwan Ediringehe, Vice President of SAARC CCI (Nepal), and Past President of the Federation of Nepal Chamber of Commerce & Industry (FNCCI) Chandi Raj Dhakal, Vice President of India -Bangladesh Chamber of Commerce & Industry (IBCCI)Sanjay Basu, Vice President of SAARC CCI (from Pakistan) Anjum Nisar, EC Member of Afghanistan Chamber of Commerce & Industry Janaqa Siddiqui and others business leaders from Bangladesh and SAARC nations were present at the program

February 15, 2023

The Investment Relations Office to promote the Colombo Port City Special Economic Zone (CPCSEZ) in Bangkok, Thailand, led by Dr Sarayut Lekplipol, the Regional Head of Investment Promotion (Asia-Pacific) for CHEC Port City Colombo (pvt) Ltd, recently hosted the Joint Foreign Chambers of Commerce Presidents Council Meeting, which includes 36 countries, in partnership with the Thai-Sri Lanka Chamber of Commerce. The event was held at Conrad Bangkok on the 25^th of January 2023, and served as an excellent multilateral platform to showcase investment opportunities at Port City Colombo (PCC).

The Investment Relations Office promoting the CPCSEZ in Bangkok is presently working with BOI Thailand, the Thailand Board of Trade, and the Joint Foreign Chambers of Commerce in Thailand. Together, this group is creating awareness about PCC and inviting both Thai and foreign investors to consider investing in vertical developments and other ventures within PCC, along with positioning the SEZ as an ideal destination for regional offices and or headquarters, allowing businesses to leverage PCC’s position as a gateway to the South Asian region. There is also an effort to connect Thailand’s Eastern Economic Corridor, which is also an SEZ, to PCC, with the intention of creating stronger trade and logistics routes and ties between South and Southeast Asia.

Commenting on the initiative, Dr Lekplipol said, “It was a great moment and opportunity for us to showcase the incredible opportunities at PCC with trade and investment representatives from over 36 countries, while also being able to spread awareness amongst the Thai business and investment community. Sri Lanka and Thailand share strong historic ties, and PCC is a great opportunity for both countries to mutually benefit, strengthen relationships and promote further cooperation.”

At the recent event in Bangkok, the regional investment relations office unveiled its plans to organize an Investment Forum in Bangkok, to launch “INVEST SRI LANKA 2023-2024” in late June to promote PCC. This will be a special awareness and marketing campaign to draw investor attention to PCC, and will be targeted at listed companies in Thailand, private investors, REIT funds and selected foreign investors based in Thailand.

Port City Colombo is a world-class city development built as an international service-oriented Special Economic Zone (SEZ), financial district and business hub, strategically located in the heart of South Asia – Sri Lanka. With an expected overall investment of US$20Bn on completion, the project spans 269 ha of ocean reclamation, extending the current Colombo Business District (CBD).

Developed in collaboration with the Government of Sri Lanka and CHEC Port City Colombo (Pvt) Ltd under a Public-Private-Partnership framework, Port City Colombo’s Regulations consist of a modern legal framework and attractive regulations that ensure ease of doing business. The framework is internationally recognized and independently regulated by the Colombo Port City Economic Commission.

Port City Colombo will be transformed into a modern, green, smart city enabling the exceptional in business, lifestyle and community. The City is estimated to have 6.3Mn m2 of built-up space and an estimated population of 273,000. The project is open to primary investment by property developers and secondary investment from key service-oriented business sectors such as financial services, shipping & logistics, IT services, BPOs, regional trading HQs and hospitality.

February 8, 2023

AmCham Sri Lanka launches an event designed to provide insights on macro and micro economic development and trade & investment climate to inspire & encourage transformational and empathetic leadership.

07^th February 2023, Colombo Sri Lanka: The American Chamber of Commerce (AmCham) launched its inaugural CxO Forum titled Unlocking 2023, on the 31st of January 2023 at the Cinnamon Grand Colombo.

AmCham SL President Lakshan Madurasinghe noted “Influence, intelligence and resources to challenge the norms, to innovate, to adapt and to thrive through unprecedented turbulence and volatility has been the cornerstone of our membership services these past years, especially the last few, and we are proud of our direction but more so pleased that we have been impactful to you – this annual CxO Forum, is our latest offering as we continue to do just that”

Chief Guest for the event, Deputy Chief of Mission of the Embassy of the United States of America in Sri Lanka, Mr Dough Sonnek in his keynote speech highlighted that the chamber is dedicated to providing leadership to help Sri Lanka in its economic recovery and reform agenda. “The type of business leaders representing AmCham provide many examples of the kind of purpose-driven leadership Sri Lanka needs to get back on the path of economic recovery.” He said.

Introducing the CxO Forum, AmCham Sri Lanka Head of Chamber, Vrai Raymond said

“It’s an annual event designed to provide macro and micro insights on the current and imminent economic and trade & investment climate and inspire & encourage transformational and empathetic leadership. The past few years have been what you would call a VUCA or TUNA world, and this year, we are set to see the Sri Lankan corporate landscape change forever with the socio-economic challenges facing our country. That is why, we decided on the theme of Purpose-driven leadership, so we can provoke and inspire the right kind of leadership.

The inaugural forum consisted of five cohesive sessions with two business intelligence panel discussions during the morning to provide back-to-basic business environment insights and three leadership sessions to inspire creative, transformational and purpose-driven leadership during the afternoon.

The first panel for the morning, “SWOT-ing the Buzzers” charted a macro view of the economy, trade and investment climate which was presented and discussed as a SWOT (Strengths, weaknesses, opportunities and threats). The panel comprised Dr PKG Harischandra, Director of Economic Research of the Central Bank, Murtaza Jafferjee, CEO of JB Securities and Chairman of the Advocata Institute, Economist & Economic Advisor to the Ministry of Finance, Deshal de Mel and Sujeewa Mudalige, Managing Partner of PwC. This eminent panel was facilitated by veteran businessman Dinesh Weerakkody, the Immediate Past Chairman of the International Chamber of Commerce, and Chairman, BOI and Port City Economic Commission.

Having set the stage with the SWOT, the next panel focussed “SNAP-ing Opportunities” by discussing how threats can be converted into opportunities and weaknesses into strengths by way of a TOWS matrix. This session brought to light how Sri Lanka can use its resources such as strategic location, rich human capital and ability to cater to high-end knowledge services and high-tech manufacturing to attract and retain top-notch trade and investment by leveraging the opportunities resulting from the impact of the COVID-19 pandemic and geo-political events on the global supply chain. The panel comprised, Renuka Weerakone, Director General of the Board of Investment (BOI), Ravin Basnayake, Country head of Citibank NA, Niro Cooke, Member of the Commonwealth Enterprise & Investment Council and Thulci Aluwihare, Deputy MD of the Port City CHEC. The session was facilitated by Ambassador Ravinatha P. Aryasinha, former Sri Lankan Ambassador to the USA.

The first leadership session of the event was held under the title ‘A for All Leader’ and was facilitated by Kshanika Ratnayaka, the Founding Director/CEO and Co-Owner of Great Place to Work. Kshanika shared insights on leadership style, and how to bring out the best in teams through effective leadership. The second session was facilitated by Harsha Fernando, senior Attorney-at-Law, who provided insight on unlocking value, maximizing profits, dealing with disputes and avoiding losses through “Facilitated Contracting”. The line-up for the day was concluded with a session titled “Being a purpose-driven leader” by Mimi Nicklin, internationally best-selling author and founder of Empathy Everywhere.

Principal partner of the inaugural CxO forum, NCINGA, represented by AVP Enterprise Business, Isuru Ponnamperuma in his closing remarks commended AmCham’s efforts to further purpose-driven thought leadership in Sri Lanka. “It’s only because of innovative leadership that NCINGA has grown to be a multi-geo IT systems integrator. The “Humanity first” approach sets the tone for NCINGA’s agile culture and seeing what is practised at NCINGA, being discussed at large at the AmCham’s CxO forum under the innovative thought leadership theme made it more relevant for NCINGA to be part of the event”.

The inaugural forum was partnered by NCINGA and LOLC Finance, together with collaborative partners Great Place To Work, LMD and Newsfirst.

With the successful completion of the inaugural CxO forum, AmCham is motivated to influence Sri Lanka’s business intelligence positively, challenging norms to innovate, adapt and thrive through the island’s unprecedented and volatile hours.

January 20, 2023

Port City Colombo (PCC) recently welcomed a delegation of senior representatives from the Thai-Sri Lanka Chamber of Commerce, the Sri Lanka-Thailand Business Council and the Embassy of Iran. The objective of the visit was to explore potential opportunities for foreign direct investment within the project. Delegation was led by Mr. Akram Saroof – President of the Thai-Sri Lanka Chamber of Commerce and Mr. Rizan Nazeer – Former President of the Sri Lanka-Thailand Business Council and Mr. K. Soheil – Chief, Economic and Consular Section of the Embassy of Iran. The delegations were received by the senior management team of CHEC Port City Colombo (Private) Limited lead by the Deputy Managing Director Mr. Thulci Aluwihare, Dr. Sarayut Lekplipol – Regional Head of Investment Promotion (Asia-Pacific), Mr. Shalaka Wijeyaratne- Executive Director – Investment Promotion and Marketing and Ms. Radika Obeyesekere- Director, Investment Promotion & Marketing. During the visit, the delegations received a comprehensive tour of the development and were provided with an overview of the project’s future plans, PCC is Sri Lanka’s largest mixed development project spanning 269 hectares of reclaimed land in the heart of Colombo and is intended to be a new economic hub for the country, providing globally attractive commercial and residential opportunities. The project is expected to bring significant benefits to Sri Lanka, including job creation and an increase in foreign direct investment and foreign currency capital flows.

“We’re delighted to have had the opportunity to host these important delegations and showcase the potential of Port City Colombo,” said Thulci Aluwihare, Deputy Managing Director of CHEC Port City Colombo (Private) Limited. “The interest in our project, and in Sri Lanka as a result, is growing globally, and we are confident that Port City Colombo Special Economic Zone will emerge as a major economic and financial hub in the region. Additionally, we anticipate the PCC Duty-Free Shopping Complex to open on schedule by April 2023, which will be a significant milestone for us.”

PCC is Sri Lanka’s largest Foreign Direct Investment (FDI) funded development amounting to a total investment of $15bn on completion. Positioned as world-class city which will be a gateway to South Asia, PCC will hold a Duty-Free Shopping Complex, the first of its kind in South Asia, anticipated to be a popular destination for shopping and tourism, set to open in in the second-half of 2023.

March 30, 2022

Colombo, March 29, 2022 – Continuing its agenda of supporting SMEs and women entrepreneurs, Seylan Bank, the Bank with a Heart, together with the Chamber of Commerce, conducted a webinar featuring four accomplished small and medium businesswomen. The webinar was themed ‘Empowering Women Entrepreneurship’ and highlighted different perspectives that are useful to build and expand a successful business.

As a leading financial service provider, Seylan Bank focuses on supporting entrepreneurs and SMEs in order to open new avenues and grow their businesses. Recognizing the potential in the women entrepreneur sector, Seylan Bank has invested on empowering them through knowledge sharing and skills development, towards contributing to the development of the economy.

“We at Seylan, consider our SME sector as the backbone of the country. Generally, the topic of empowering SMEs or women, is limited to either women in the corporate sector or a few selected traditional SMEs. Identifying that there is more potential with many other women entrepreneurs the webinar was essentially targeted at a selection of businesses led by women who seek new opportunities in a wide array of industries. The panel who conducted the webinar reflected this objective. Women entrepreneurs face unique challenges, as they are also multi-tasking at different levels. These are rarely brought forward or resolved in forums. The experiences that were shared by our speakers helped existing and potential women entrepreneurs who experience similar challenges to understand how to overcome issues faced when building or expanding businesses. Our message to them is that Seylan Bank’s doors are open to women in any industry, who are passionate about building their business and taking it to the next level,” commented Gamika De Silva, Assistant General Manager – Marketing and Sales, Seylan Bank.

Sharon Fonseka, Assistant General Manager – Corporate Credit Branches added, “For Seylan Bank, our focus does not end with providing only financial services to women entrepreneurs. We continue to consider ways to provide a platform where knowledge can be shared by women who have tried and tested solutions, in building their businesses. This also gives an opportunity for them to establish a network with the bank and other entrepreneurs, creating a support system that will further help them in their journey. We continuously work together with them to overcome challenges they will face in their journey”.

The ‘Empowering Women Entrepreneurs’ panel was moderated by Nayomi Handunnetti, Executive Director – Handun Villas and Restaurants. She opened the discussion by emphasizing the importance of women entrepreneurship in Sri Lanka and the role of SMEs in the economy. Selyna Peiris, Director, Business Development – Selyn, followed by highlighting the need to identify hidden opportunities and exploring new markets. Drawing from her personal experience, Namalee Wickrama, Managing Director – Golden Star Holdings Pvt Ltd. shared the milestones of her journey in building a successful manufacturing business, while Chanchala Gunawardena, Chief Executive Officer – Kimbula Kithul added a new avenue of discussion in the successful use of digital platforms in developing a business. Joining the discussion on behalf of Seylan Bank, Prabodha Rajapakse, Senior Manager, Branch Credits brought to light the range of financial services that are available with the Bank for women entrepreneurs.

The ‘Empowering Women Entrepreneurs’ webinar successfully received over 800 registrations, creating an engaging platform to share knowledge, and was a fruitful learning experience for existing and potential entrepreneurs.

July 19, 2021

COLOMBO, Sri Lanka — July, 2021 — Asia’s first and largest 3-day virtual investment conference, Sri Lanka Investment Forum 2021 (SLIF 2021), concluded successfully on June 9th. The Forum was a joint initiative of the Chamber of Commerce, the Board of Investment of Sri Lanka and the Colombo Stock Exchange, in collaboration with Microsoft as the Technology Partner. It facilitated 4,870 online registrations from 85 countries simultaneously and seamlessly.

The Forum was supported by Microsoft through its local Gold Partner Impact IT Solutions who developed the website and event platform: www.invest-srilanka.lk. The platform showcased features such as online registration of participants, connecting with live events, scheduling of B2B meetings between investors and exhibitors, registration for sessions, event management, technical support and discussion facilitation throughout the 118 sessions featuring 108 international and local resource personnel. It was conceptualised and developed by Impact IT using Microsoft technologies integrated with Microsoft Teams.

“As a Microsoft Gold Partner, IMPACT IT is proud to have designed and developed the website and event platform by utilizing Microsoft Technologies to host the largest virtual investment forum in Asia,” said Shameera Prajapriya, CEO of Impact IT.

“IMPACT IT is a Microsoft Gold Partner recognized for their commitment to solidifying customer relationships by offering innovative and effective business solutions to their customers. By succesfully implementing Microsoft Teams’ social and collaborative features into their website and event platform, the company was able to stream rich content of significant value to current and potential investors on behalf of Sri Lanka,” said Hasitha Abeywardena, Country Manager for Sri Lanka and the Maldives, Microsoft.

Addressing the gathering as the Keynote Speaker, President Gotabaya Rajapaksa expressed his vision for growth in Sri Lanka to reach a per capita income of USD 8,000 within the current decade. He also encouraged local and foreign investors to seize the country’s opportunities and leverage its strategic location, being situated in the Indian Ocean, crossing the main shipping and airline routes, and being the gateway to South Asia. The Forum closed positively with investors expressing keen interest in Sri Lanka’s investment and growth potential across multiple sectors in the future.

April 7, 2021

The CBL Group was awarded first place at the recently held 17th Annual Best Corporate Citizen Sustainability Awards 2020. Organized by the Chamber of Commerce, the award is
the highest recognition of the private sector for sustainability and good corporate citizenship.

The award recognizes CBL’s contribution to creating meaningful growth across its value chain and beyond and assesses its commitment to sustainable business practices. The win reflects CBL’s sustainability journey, having been in the top 10 Best Corporate Citizens in Sustainability in Sri Lanka consistently for 14 years.

“Through our food we are helping to change lives for the better in every part of Sri Lanka. This is a constantly evolving journey and not one that we can do alone and we rely on our value chain partners to support us to achieve our purpose so, ensuring that our partners and our consumers grow with us is a very important part of our business. We are very proud to have won first place the Best Corporate Citizen Sustainability Awards and grateful to our consumers for the opportunity to contribute to the growth of Sri Lanka.” Says CBL’s Group Managing Director Sheamalee Wickramasingha.

CBL’s value chain reaches backwards to its network of over 13,000 conventional and organic farmers who supply the greens, grains, fruits, vegetables and spices used in its diverse product portfolio. Ensuring the stability and security of its farmer network is crucial to maintaining secure high quality agricultural raw material inputs and the company is determined to achieve this through improving livelihoods and creating better access to growth for its farmers. In Financial Year (FY) 2019/20 alone, CBL contributed over Rs. 6 Billion to the sector through agriculture purchasing. The Group has invested in excess of Rs. 2.5 Billion to mechanize, automate and develop competencies in the agriculture sector and is actively involved in promoting good health and wellness for its farmers through the ‘Govi Pawula’ programme.

Despite the tremendous challenges of a sudden lockdown at the end of a tumultuous year and a complete halt of its operations, CBL’s companies were able to rally very quickly to adapt to the COVID safety requirements and resume operations. As an essential player in the food supply chain, the company focused on getting its products to its consumers and ensuring that there was no shortage in the products that consumers rely on. To achieve this the Group streamlined its vast portfolio to manufacture consumer essential food needs and focused on managing staff constraints. Tackling resource consumption and waste were also key priorities with heavy investments made in shifting to renewable energy, reducing its impact in farming and tackling waste.

CBL’s partnership with the International Finance Cooperation to empower its retailers and distributors for a future ready retail sector, CBL’s Senehasin Jayamaga, aims to build competencies for over 5,000 distributors and sales staff in the CBL network. By 2023, the project will support 40% of CBL’s distributor network to shift towards digital payment methods and double the number of women in its network.

CBL’s brands also carry out extensive work to uplift communities. Munchee Tikiri Shishyadara is the largest scholarship programme of the private sector and has granted over 3000 scholarships to date. Munchee Samaga Gamata Sarana builds essential rural infrastructure and Ritzbury is a strong driver of Sri Lankan Sports and athletics. CBL brands like Samaposha, Nutriline, Lankasoy and Sera help develop better nutrition and food habits in communities providing convenient nutrition for every meal.

CBL also won an award for the manufacturing sector. The stringent evaluation process for the award is highly competitive, with an eminent panel of judges evaluating submissions from listed and unlisted companies across Sri Lankan industry.