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Special Report
Sri Lanka, the highest-ranked South Asian nation on the Human Development Index and South Asia’s second-highest per capita income
2022
Sri Lanka
This report was produced by One World Media
Sigiriya, the Lion Fortress of Sri Lanka. Photo by Dylan Shaw
The Ancient stone pillar of the future Despite recent challenges, Sri Lanka’s vast geographical, infrastructural and human advantages make it one of South Asia’s most resilient and strategic investment destinations.
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The resilience we have as a nation is one of our most important assets. Sri Lanka has been through many challenges, but we always come back stronger”, assures Mr. Lakshan Madurasinghe, President of Sri Lanka’s American Chamber of Commerce. Like many countries in these post-pandemic times, Sri Lanka has experienced significant economic upheavals. However, what makes the country unique is its huge strategic potential to become one of South Asia’s main hubs for international investors. On the one hand, Sri Lanka’s strategic geographical position places it within a vast proximity market in South Asia and East Africa, with considerably reduced supply chain costs since most raw materials come from the region. Similarly, the country’s ports, shipping lines and major infrastructure developments like Port City Colombo enable it to bring forth large-scale investment projects. With an annual estimate of US $1.2 billion in terms of direct economic value, there is great potential to draw in different types of investors such as valuable travelers, luxury yacht marina, worldclass integrated resorts, high-end retail malls
and convention centers. “These advantages make Sri Lanka ideal for supply chain diversification and head office operations”, states Mr. Madurasinghe. Another factor that contributes to Sri Lanka’s resilience is the country’s elevated literacy rate, which makes it the highest-ranked South Asian nation on the Human Development Index, with a highly-skilled, English-speaking workforce. Moreover, the country is recognized internationally for its superior sustainability standards, particularly in the manufacturing and hospitality industries. As Mr. Madurasinghe explains, “when it comes to ethical practices in our manufacturing processes, we really are above. This set us apart from other countries in the region.”
A strategic location Located at the crossroads of major global shipping lanes, Sri Lanka has great potential as a gateway to India and a meaningful link in China’s Belt and Road initiative.
«if you partner with the right people along with the right long-term mindset, I believe you will find success.» LAKSHAN MADURASINGHE
STAFF Pablo Martinez Matosas CEO Stephanie Huertas Project, Marketing and Sales Director Ignacio Briones Vidal Business Journalist Maricruz Rojas Felix Creative Director and Designer Giangina Orsini Chief Editor Matias Godoy Writer Judith Miguélez Díaz Online Content Manager Jessica Bayman Copy Writer * Special Thanks to Sandra De Zoysa, Dileep Mudadeniya and Dr. Ravi Fernando.
In terms of trade partners, while Sri Lanka has an open approach to establishing commercial ties with countries like India, China, and several European nations, their relationship with the United States is of particular importance. Not only they are Sri Lanka’s main economic partner, receiving over 24% of all its exports, but in the future Sri Lanka expects to attract US companies willing to invest in the telecommunications, IT, BPO, tourism, construction, energy and financial sectors. Despite recent economic turmoil, Sri Lanka remains one of the region’s best investment opportunities. Like Mr. Madurasinghe says “if you partner with the right people along with the right long-term mindset, I believe you will find success.”
COLOMBO
Long history of international engagement Sri Lanka is member of the SAARC, the UN, the Commonwealth of Nations, the G77 and the Non-Aligned Movement.
Infographic by Maricruz Rojas
Stéphanie Huertas International project director.The world is my playground; we are ONE. Intrepid traveler, experiences collector, nature & people lover, a passionate person, soul-thirsty for adventures, cultures and art. stephanie@oneworldmediacorp.com
Main Data Capital: Colombo Population: 22,156,000 (2020 estimate) Total area: 65,610 km2 Life expectancy: 77.14 years GDP: $306.997 billion (total, 2021) Main economic sectors: tourism, tea and spices, textiles and apparel, rubber manufacturing, shipping, electronics, IT services Currency: Sri Lankan rupee (RS) Unemployment: 5.2% (2020)
Ignacio Briones Vidal Business journalist. Committed to discovering the opportunity hidden in uncharted territory.
ibriones@oneworldmediacorp.com
Promoting Sri Lanka’s investment potential The BOI actively contributes to attract and facilitate FDI, expand the country’s diversified service sector, and position Sri Lanka as a preferred investment destination.
Being at the crossroads of major global shipping routes, Sri Lanka has enormous potential to become the region’s next economic hub, with one institution playing a key role: Sri Lanka’s Board of Investment, BOI. By growing export-catalyzing FDI and expanding the services sector, the BOI “directly impacts economic growth and per capita income, creates direct and indirect employment opportunities, and boosts foreign remittances essential to stabilize the Sri Lankan currency”, assures Mr. Raja Edirisuriya, Chairman of BOI. To encourage foreign investment and facilitate business procedures, the BOI started revising the existing regulations regarding taxation, foreign exchange and trade; and implementing a Single Window Platform to streamline and ease the application process. “This platform will deliver simplification and transparency to project approval”, states Mr. Edirisuriya. Additionally, the BOI’s digitization is well advanced with significant improvements in customs handling, integration of the BOI’s visa recommendation system, and a comprehensive revamping of the BOI’s website. Furthermore, the BOI started building capacity and specific infrastructure in key sectors, like the textile and pharmaceutical industries, relocating the industrial areas to developing regions of the island; as well as promoting opportunities in ICT, electrical and electronic manufacturing and high-tech rubber products, to further expand the country’s value-added proposition and attract the right investors.
Pablo Martinez Matosas International relations specialist, journalist, father, and passionate entrepreneur with over 15 years of experience in worldwide markets.
pablo@oneworldmediacorp.com
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ICT
Fastest growing industry in Sri Lankan economy.
+600 successful startups have been launched since 2011.
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+30 universities and high education institutions with specialized ICT programs.
Becoming South Asia’s new ICT destination With a focus on sustainable capacity building, highly personalized services and added-value partnerships, Sri Lanka’s ICT industry is paving the way to the future.
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ong recognized as a successful outsourcing market across various industries, Sri Lanka is emerging as one of the region’s most promising ICT destinations. With more than 600 startups and companies like IBM, Microsoft, Oracle and Dell already based in the country, Sri Lanka’s IT-BPM sector has grown considerably over the last decade. In 2021 it contributed 4.37% to the country’s GDP, and is expected to draw in around US $1.8 billion revenues in 2022. As stated by Ms. Sandra De Zoysa, Chairperson of the Sri Lanka Association for Software Services Companies, SLASSCOM, “Sri Lanka is now branded internationally as an “Island of Ingenuity” thanks to our ICT potential. That is our proposition to the world and where we want to build on.” Several steps have been taken to guarantee Sri Lanka becomes a top-quality ICT services exporter. First transformed into a tax-free sector, the ICT industry is benefiting from a strong focus on capacity building. Organizations like SLASSCOM support platforms that promote the start-ups’ capacity with forums like: the Entrepreneurship and Innovation Forum, Women Technopreneurs and Regional Forums. They also focus on training by working closely with over 30 higher education institutes and developing university cooperation agreements. Additionally, SLASSCOM launched its own academy last year directed at IT industry employees and potential new talent. “We are building up our people skills which is really important for working in a niche environment. We want to excel in our people practices”, assures Ms. De Zoysa. These capacity building efforts extend to private companies like Infomate, the country’s first Financial Accounting BPO & Business Process Management firm, offering end-to-end accounting, HR and payroll, data entry and other back office and administrative tasks. Linking
«Sri Lanka is now branded internationally as an “Island of Ingenuity” thanks to our ICT potential. That is our proposition to the world and where we want to build on» SANDRA DE ZOYSA
up with universities, accounting and general schools, Infomate’s programs inform parents and students about the industry’s opportunities, and offer specific training to young professionals. “We have created something like a practical university and are very proud of our CIMA-certified training curriculum. We incorporate young talent straight out of school and within 2 to 3 years they become excellent finance professionals”, states Mr. Jehan Perinpanayagam, CEO of Infomate.
John Keells Holdings. They are renowned for developing and implementing some of the best specialized end-to-end technology and operation solutions across industries like airlines, manufacturing, retail, financial services and transportation. Thus, applying tools such as design thinking, blue ocean strategy and strategy canvas, they roadmap their client’s needs and strengths so they can evolve with applied technologies adapted to their diverse businesses models. As Dr. Ramesh Shanmuganathan, Executive Vice
Another key aspect is building sustainable infrastructure. Besides Port City Colombo project, there are five world-class technology parks under construction which are energy efficient, green-bond certified and fully integrated with the surrounding environment. Like Mr. Perinpanayagam says, these spaces “perfectly blend great technology and the whole mantra of live, work and play.” Sri Lanka also benefits from two undersea fiber-optic data cables to develop renewable energy driven data centers; and companies are implementing environmental social governance policies and plans to report an ESG score for the industry, add to the country’s ingenuity branding and be recognized as an IT-BPM green destination globally. Delivering highly-personalized services is also central to the sector’s continuous growth. It is the case of John Keells IT, a leading strategic consultancy focused on digital transformation, subsidiary of Sri Lanka’s largest conglomerate,
President and Group CIO of John Keells IT says, “the key to our success is understanding our customers business. It is not about selling a technology solution, but rather an entire transformation experience.” Similarly, Infomate developed ‘Ace transition methodology’ to understand their client’s financial accounting processes and key business goals, mapping every field in their operations and classifying them to deliver the right solutions. They also focus on process improvements, particularly in migrations and transitions, so companies can eliminate wasteful efforts and reduce costs and cycle times. “The key is understanding what the customer really wants. We do not try to put out a solution to the client, delivering a more personalized attention we offer them custom-tailored solutions”, assures Mr. Perinpanayagam. These companies are also creating specialized products. John Keells IT developed Evinta, which runs the entire airline control system; and other ready-to-export smart retail, facto-
«Innovation is a step toward change» RAMESH SHANMUGANATHAN
ries, office, homes and healthcare products. “These different smart platforms provide a great growth opportunity”, says Dr. Shanmuganathan. Likewise, Infomate created two software products that navigate accounting shared services more efficiently. Their QU management software facilitates automatic payment of invoices, while Supplier Mate is a SAP-integrated software specially designed for the travel industry’s AP needs. Another key factor is establishing added-value partnerships, particularly in outsourcing. Both John Keells IT and Infomate have an extensive ecosystem of strategic partnerships with industry leaders like SAP, Microsoft, IBM, Amazon, Oracle, Xero and Google. As Mr. Perinpanayagam explains, “our strategy is focusing on collaboration and partnerships; not taking jobs from one side and outsourcing them somewhere else, but accessing an international talent pool and helping each other across the world.” That said, the sector’s target area is North America, particularly the US, as it is currently the biggest ITC market worldwide and many US companies look for cost-effective digital consultancies. By 2025, the country’s ICT sector expects to become a US $5 billion export industry, providing employment to a 200,000 workforce and hosting 1,000 startups. And while there are still several challenges ahead, its steady growth and sustainable dynamism makes the IT space one of the country’s most attractive investment opportunities. Above all, it has the potential of transitioning Sri Lanka into a knowledge-based, highly competitive social market economy. Like Dr. Shanmuganathan states, “innovation is a step toward change.”
«We incorporate young talent straight out of school and within 2 to 3 years they become excellent finance professionals» JEHAN PERINPANAYAGAM
Rethinking a national strategy for Sri Lanka’s sustainability Being a global expert in his field, Dr. Ravi Fernando has a clear agenda to help Sri Lanka overcome the current economic crisis and transform it into a truly sustainable economy.
Solar panels
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Sri Lanka needs to have another strategy that adds value to our natural resources and services and encourages exports”, states Dr. Ravi Fernando, CEO of Global Strategic Corporate Sustainability, a leading consultancy firm specialized in developing and implementing sustainable business strategies. According to Dr. Fernando, the first stage in a future national strategy is to leverage the country’s unique geographical position with modern port facilities and logistic excellence. Having one of the region’s best shipping ports with some 40,000 monthly ships, and the closest shipping route from Asia to Africa, Sri Lanka has enormous potential, particularly when 80% of the world trade goes through shipping exports. Secondly, being a traditionally agriculture-based economy, Sri Lanka’s best crops should have global brands as does their Ceylon tea,
Dilmah. Now, Dr. Fernando recommends they do the same with the country’s less known but uniquely pure Ceylon cinnamon. “Sri Lanka has the only natural cinnamon on the planet, so we should have a brand in the global market.” Another area of interest is precision agriculture, which needs 90% less water with four times the yield. By collaborating with global experts in the USA and Holland, Sri Lanka could become an agricultural hub with the capacity to ensure not just its own food sustainability but also drought-affected South India’s, a region that Dr. Fernando says “can create unprecedented food security issues.” Sri Lanka should also exploit three key minerals, graphite, ilmenite and phosphate, which could become top added-value export products. As Dr. Fernando explains, Ceylon graphite is the world’s purest at 99.8% and one of its derivates, graphene, is used to build electric car batteries and new generation solar panels. Similarly, ilmenite has its purest form in Sri Lanka at 73.8%, and when purified creates titanium, which could become the country’s second largest export. Phosphate is also promising with a high 40% purity and widespread use in the fertilizer industry. Finally, sustainable tourism has great potential as Sri Lanka provides an excellent ‘small island-big trip’ opportunity with its natural beauty, a 2500-year history, rain water harvesting expertise and unique engineering feats.
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Apparel Industry
9 internationally located division headquarters.
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First sustainable passive-house innovation center in South Asia.
10 carbon neutral manufacturing plants with over 8000 employees.
Sri Lanka’s first choice for world-class, ethical apparel
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A. SUKUMARAN MANAGING DIRECTOR STAR GARMENTS
Since 1978, Star Garments designs and manufactures top-quality, customized garments using the latest technologies and the best sustainable practices.
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ver the last decades, Sri Lanka has established a name for being an ethical, quality apparel manufacturing destination. With 9000 highly qualified employees, eleven factories and forty years of transparent business practices, Star Garments is one of the leading agents behind this transformation. As Mr. A. Sukumaran, Managing Director of Star Garments explains, one of the key characteristics of Sri Lanka’s apparel industry, and Star Garments in particular, is its added value: “we are not a cheap labor destination and we will not compete on price either. Instead, we bring great value propositions that we know our customers will want. This is why they stay with us.” Such philosophy is what made Star Garments the leading, innovative company they are today. On the one hand, with their state-ofthe-art machinery and commitment to quality, they control all the product development cycle, from digitally designing each piece to creating and distributing them. This not only guarantees seamless execution, but encourages technical innovation, efficiency and client customization. Like Mr. Sukumaran says, “we are not creating a product that can just be sold everywhere, we look at the customer’s particular needs and change our business model to suit
«We are not creating a product that can just be sold everywhere, we look at the customer’s particular needs and change our business model to suit them specifically. This brings huge value to our clients and sets us apart from our competitors»
Boardroom Star Garments
Dressmaker
Star Garmen
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them specifically. And because we are technologically advanced, we can design the patterns and create the garments under one company umbrella. This brings huge value to our clients and sets us apart from our competitors.”
Star Garments also strives to become more environmentally and socially sustainable. They are Sri Lanka’s largest carbon neutral company, the only one in the apparel manufacturer sector to have all its facilities certified; they have six LEED certified facilities; and their innovation center is the first passive house building in South Asia, winning the 2020 merit for sustainability at the AIA New York design awards. Similarly, the majority of their employees come from their own training schools and they prize themselves for being a company that treats them fairly. “All of our garments are manufactured in an ethical environment. No sweatshops, no child labor, and no abuse within the work space. Many of our staff have started on the shop-floor and worked their way up to managerial positions. There is a lot of room for growth in our company”, firmly states Mr. Sukumaran.
A. SUKUMARAN
These attributes have allowed Star Garments to establish solid partnerships with some of the world’s best clothing brands, such as Eddie Bauer, Marks & Spencer, Lands’ End, Hobbs and Ralph Lauren. And while they constantly look for potential new customers, in the coming years they will focus on sustainable production: adding another factory to meet volume requirements, setting up a new fabric mill to reduce imports, and expanding their operations to Africa. Like Mr. Sukumaran highlights, “in the global apparel manufacturing business, Sri Lanka’s market share is less than 2%, and as long as we retain that or go up to 5%, that’s more than enough for us. There will be brands looking for this niche, and we are trying to bring in something different compared to every other cheap manufacturing destination.”
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Seafood Industry
Logistics
Premier producers of Sri Lanka’s top-quality ethical seafood
Leading pioneers in international maritime and transport management
Their world-class quality standards, innovation, traceable practices and community engagement make them an example of exponential growth and sustainability.
For over 150 years, Aitken Spence has been revolutionizing Sri Lanka’s maritime and logistic services.
A Vanny, Nilmaliny and Sanithira at the Taprobane Factory, Kilinochchi, Sri Lanka.
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Transparency is the key to our suc- ter pollution in nearby lands, turn the shrimp cess”, assures Mr. Dilan Fernando, waste into fertilizer and, with the support of Director of Taprobane Seafoods. the UN, run a climate adaptation project to Since its establishment in 2011, Taprobane build tanks with solar-paneled roofs to allowSeafoods has become one of the region’s most ing year-round farming and promote food sustainability in local areas. successful seafood producers Similarly, being socially responand exporters, with 15 state-ofsible is one of Taprobane Seafoods’ the-art factories across Sri Lanka staples. They were the first comand over USD $50 million in rev- «Our production enues. is very particular, pany to employ disabled women, provided them UN-sponsored Their transparency comes we call it housing and now they comprise a from a production that is inter‘boat to plate’ 1000-employee workforce that has nationally certified, technolobecause we have seen their own lives, and their comgy-based and fully traceable, from munities, completely transformed. hatching the root stock to food traceability “These young women are full of life processing. Their main focus is throughout the again because they have been given Vannamei shrimp farming, the entire process» a purpose. They are our most loyal world’s most traded seafood item, and trustworthy emand highly-demanded crab meat, TIMOTHY O’REILLY ployees”, states Mr. the only Eco-certified sea product Fernando proudly. in South Asia. “Our production is very particuAs one of the lar, we call it ‘boat to biggest US suppliers, plate’ because we have with 95% of their traceability throughout crab meat exported the entire process”, says there, they strive Mr. Timothy O’Reilly, to keep gaining Managing Director of presence in Taprobane Seafoods. the American Another trademarket. Like Mr. mark is their enO’Reilly says, vironmental and “consumers are social sustainnow demanding ability initiatives. transparency and They rehabilitraceability. Being tate old pond really focused on farms to avoid sustainability and somangrove decial responsibility does forestation, set us apart from our use lining to competitors.” prevent salt wa-
itken Spence Maritime & Freight Logistics is used to breaking new grounds. They have been pioneers in the logistics industry since the company started in 1870, when they began working as shipping agents for the tea and rubber trade. Later, they were the first Sri Lankan company to go into freight forwarding, to set up outside container yards, to start multi-country consolidation, and to build and operate an inland container terminal. Today, Aitken Spence is Sri Lanka’s leading shipping agency business, a diverse and flexible provider of cargo, logistics, port management and freight forwarding services. They operate the country’s largest inland container terminal next to the port of Colombo, as well as three other terminals at major free trade zones. “Our logistic sector handles all the container depots and its transportation, warehousing, and distribution. We work with all three sectors, which is unique and sets us apart from our competitors”, says Mr. Iqram Cuttilan, Managing Director at Aitken Spence Maritime & Freight Logistics. Their pioneering spirit has also taken them to exciting international ventures. In 2006, they became the first Sri Lankan company to undertake port and container terminal management overseas, when they assisted South Africa’s Durban port in “streamlining their processes, training their staff to improve efficiency in handling containers and ships, and even mitigating the labor unrest they were facing”, recalls Mr. Cuttilan. This experience led them
60,000 ships use the Indian Ocean maritime route every year, navigating in Sri Lankan waters.
IQRAM CUTTILAN MANAGING DIRECTOR AITKEN SPENCE MARITIME
«Aitken Spence is Sri Lanka’s main freight service provider, we are well known in our market and people know they can trust us.» IQRAM CUTTILAN
to manage Mozambique’s Nacala port, and later to establish the first ever public-private partnership for a Sri Lankan company overseas, their agreement to operate Fiji’s two major ports. In the future, they will keep breaking new barriers by marketing their own brand as a freight forwarding company, building a new container freight station and establishing international partnerships in South Asia and the South Pacific to further expand their good name and practices. Like Mr. Cuttilan says, “Aitken Spence is Sri Lanka’s main freight service provider, we are well known in our market and people know they can trust us.”
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Conglomerate
150 years of lasting international partnerships.
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First Sri Lankan wasteto-energy plant, with a capacity of 10 MW.
First Sri Lankan company recognized in the global ranking of Top 100 Companies in Sustainability 2022.
Leading promoters of Sri Lanka’s sustainable development Aitken Spence is not just one of the largest leading conglomerates in Sri Lanka. Their pioneering initiatives exemplify a more sustainable and socially committed way of doing business.
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At Aitken Spence we do not only look at seizing opportunities, we focus on creating opportunities”, assures Dr. Parakrama Dissanayake, Deputy Chairman and Managing Director of Aitken Spence. The Group’s management expertise and sustainable practices have actively contributed to Sri Lanka’s economic diversification and responsible growth across a wide variety of sectors such as tourism, maritime & freight logistics, renewable energy, plantations, apparel and other services. Aitken Spence holds strategic businesses in 8 countries and continues to grow.
PARAKRAMA DISSANAYAKE DEPUTY CHAIRMAN AND MANAGING DIRECTOR AITKEN SPENCE
«When we look for partnerships, we look for honesty and integrity because we believe that these are a firm foundation for growth, maturity and longstanding relationships» PARAKRAMA DISSANAYAKE
They are pioneers in adopting a comprehensive sustainability framework for all their business operations, the Integrated Sustainability Strategy, which guides the implementation of environmental and social performance standards in line with relevant UN Sustainable Development Goals, UN’s Global Compact standards and Women’s Empowerment Principles. These efforts have granted them Sri Lanka’s Best Corporate Citizen Sustainability Award for three consecutive years, as well as being the only Sri Lankan company included in ‘Sustainability’ magazine’s global ranking of Top 100 Companies in Sustainability 2022. In the tourism sector, Aitken Spence counts with 23 resorts in Sri Lanka, the Maldives, Oman and India, recognized for their astounding locations, world-class services and exemplary sustainable practices. Besides being the first Sri Lankan company to invest in a hotel overseas and the largest single foreign operator, they are recognized for introducing the world’s first LEED (Leadership in Energy and Environmental Design) certified hotel, the Heritance Kandalama. Aitken Spence Travels is Sri Lanka’s No. 1 destination management company with experience of over 4 decades of tours and holidays showcasing the best of Sri Lanka. Their strong partnership with TUI, the world’s largest tour operator and many other reputed tour operator partners reiterates its position as the market leader in Sri Lanka. Aitken Spence’s pioneer sustainable initiatives also extend to the privately led renewable energy investments in a diversified portfolio encompassing hydropower, wind and waste to energy. Their latest project, Sri Lanka’s first waste-to-energy power plant, is a sustainable solution to Colombo’s solid waste disposal problem, further strengthening the country’s efforts to move towards cleaner energy sources. Addi-
Tourism
tionally, they are trailblazers in the green printing solutions with South Asia’s first LEED (Gold) certified, carbon neutral printing complex. That pioneering spirit also resonates strongly in Aitken Spence Maritime Freight and Logistics sector. Aitken Spence is the first Sri Lankan company to venture in port management services in the South Pacific and Africa. More recently, the company is to expand with a new state-of-the-art, 3PL/4PL container freight station expected to be built this year. The success of these overseas initiatives reflects another pillar of Aitken Spence’s philosophy, establishing and maintaining strategic partnerships. Their strong, decades-long relationships with leading international brands like Lloyd’s London, Singapore Airlines, TUI, Hapag Lloyd, Qatar Cargo, DB Schenker, Western Union and OTIS, attests to their professionalism, service excellence and reliability. As Dr. Dissanayake explains, “when we look for partnerships, we look for integrity and trust because we believe that these are a firm foundation for growth, maturity and longstanding relationships.” Aitken Spence also distinguishes for focusing on its people. Their performance-oriented culture allows employees to continuously improve their technical and interpersonal skills, keeps them motivated, and further strengthens the Spensonian grit in demonstrating purposeful leadership. Like Dr. Dissanayake says, “one of the key characteristics of Aitken Spence’s success has been its people. We want to develop them not only in their skills, but in their ability to face future demands . We are different from other companies because we have genuinely invested in our human talent”. Given Aitken Spence’s exceptional services, sustainable practices and competent human capital, it is no surprise they have been a driving force of Sri Lanka’s economic development for over 150 years.
HARRY JAYAWARDENA CHAIRMAN AITKEN SPENCE
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the only Sri Lankan company theto only Sri Lankan company be ranked among the to be ranked among the
Contact us | www.aitkenspence.com
5 award-winning luxury resorts in the Maldives, offering the highest service quality standards.
Offering the best tailored hotel experiences in Sri Lanka and beyond
SUSITH JAYAWICKRAMA MANAGING DIRECTOR AITKEN SPENCE HOTELS
Their diversified offer, stunning locations and architecture, world-class services and compromise with sustainability, make them one of the region’s leading leisure hotel chains. «When you visit one of our Heritance hotels it’s a full cultural immersion»
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rom paradisiac beaches to high mountains, Aitken Spence’s hotels and resorts guarantee their guests unique experiences while delivering the highest service standards. Located in some of the region’s best touristic sites, Aitken Spence Hotels currently operates 20 hotels in Sri Lanka, the Maldives, India and Oman under the brands Heritance Hotels and Resorts, Adaaran Resorts and Turyaa. As Mr. Susith Jayawickrama, Managing Director of Aitken Spence Hotels states, “we have some of the most unique and best properties outside of Colombo. Our excellent service and fantastic management capabilities is what differentiates us from the rest of the hotel groups.” Aitken Spence Hotels started in 1973 with Neptune hotel, a beachfront property on the southern coast of Sri Lanka that today is called Heritance Ayurveda, a holistic ayurveda wellness resort. Later they built Heritance Ahungalla, the first five-star beach resort in the country (as Triton Hotel), and Heritance Kandalama, a spectacular retreat near the Kandalama Lake that according to Mr. Jayawickrama, is “an iconic property and a role model for eco-sus-
«We believe that the future of tourism relies on how well we manage and respect the environment, because at the end of the day we are basically marketing the incredible nature around us» SUSITH JAYAWICKRAMA
Heritance Kandalama tainable tourism.” The three hotels were designed by prominent architect Geoffrey Bawa, representing proud examples of Sri Lankan architecture. Aitken Spence’s hotels in Sri Lanka also include the Heritance Tea Factory, a unique retreat nested in the Nuwara Eliya mountains, where guests enjoy 19th century Ceylon colonial comfort off a renovated tea factory of the past. In contrast, Heritance Negombo offers modern comforts in their west coast beachfront resort and spa, while the vibrant Turyaa Kalutara offers seaside respite for family holidays. Among its managed portfolio are the spectacular Earl’s Regency and Earl’s Regent, giving guests a traditional royal experience in the heart of Kandy, the last capital of Sri Lanka’s era of ancient kings and home to UNESCO’s world heritage sites; as well as Amethyst Resort in Passikudah. The group’s success in Sri Lanka soon led them to expand internationally. In 1993 they opened their first property in the Maldives, and today they op-
erate seven resorts, including the stunning Heritance Aarah, a collection of sumptuous beach and ocean villas considered one the finest Maldives luxury resorts with a culinary journey like no other. Like Mr. Jayawickrama explains, “we are the only Sri Lankan company that has managed to penetrate internationally and take on management positions because of our management and service excellence. Our Heritance Aarah has won many prizes, including the 2021 Luxury Lifestyle Awards, beating all the international chains.” Another Aitken Spence’s trademark is their compromise with sustainability. They are credited for introducing LEED (Leadership in Energy and Environmental Design) certified architecture to the hospitality industry with Heritance Kandalama, the world’s first LEED certified hotel, followed by Heritance Aarah in the Maldives. Similarly, Heritance Ayurveda was the country’s first hotel to enter a Net Metering Agreement using solar photovoltaic re-
| Heritance Aarah,
Maldives |
newable energy, mitigating its carbon footprint by 4.6 tons annually. “We believe that the future of tourism relies on how well we manage and respect the environment, because at the end of the day we are basically marketing the incredible nature around us”, says Mr. Jayawickrama. Additionally, they promote sustainability in their communities by hiring as locally as possible and training their staff in their own hotel schools. By offering the highest-quality services in spectacular locations, respecting the environment and highlighting local cultural traditions, Aitken Spence Hotels has guaranteed their success and opened new pathways for a more sustainable hospitality industry. After all, as Mr. Jayawickrama states, “our brand is all about our heritage. We preserve the natural habitat around us and offer a local culture and food experience. So it is basically a full cultural immersion.”
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Manufacturing
24% of Sri Lanka’s exports go to the US market.
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31 manufacturing companies listed in the Colombo Stock Exchange.
Over 20 projects on industrial, services and logistic parks around the country.
Providing Sri Lanka’s most innovative and sustainable agricultural & healthcare solutions CIC became one of Sri Lanka’s leading conglomerates by combining scientific, modern technologies with the best sustainable and ethical practices.
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Our theme is nurturing life and we create added-value products that enhance environmentally and socially sustainable initiatives”, states Mr. Aroshan Seresinhe, CEO of CIC Holdings. Throughout the last 58 years, CIC has been constantly evolving to offer Sri Lankans a portfolio of FDA-approved products and services within five sectors: food & harvest, crops, healthcare, livestock and industrial products. Their strong focus on Research and Development has led them to develop some of the industry’s most innovative products in close collaboration with local farmers and internationally-recognized scientific and Aryuvedic consultants. Like their successful Link Natural’s Samahan, a 100% natural herbal cold and cough product; or their new Red Basmati rice variety, which has a low glycaemic index and is been exported to sever-
MAHENDRA JAYASEKERA MANAGING DIRECTOR LANKA TILES
AROSHAN SERESINHE CEO CIC HOLDINGS
«We are very proud of our company and wish to strengthen our export base with new agencies congruent with our business.» AROSHAN SERESINHE
nering with local farmers to grow medicinal plants, providing them with technical and financial assistance. Furthermore, CIC is seeking like-minded international partners to distribute their products in the US and other Asian countries. As Mr. Seresinhe states, “we are very proud of our company and wish to strengthen our export base with new agencies congruent with our business.”
Leading Sri Lanka’s household name for manufacturers of world-class biscuits internationally rigorous adherence to the highest quality standards and focus on customer competitive, tailor- Their satisfaction, has made Maliban Group industry leaders both locally and internationally. made and greenis our DNA, and from the Chair- While their main exporting destinations are certified tiles man down to the front-line staff, ev- the UK, Europe, Australia and the US, they re“Quality Since 1977, Lanka Tiles has been producing and exporting Sri Lanka’s highest-quality, specialized and sustainable wall and floor tiles.
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al countries, including the US, due to its excellent health benefits. “There is a lot of export potential now, when people are more inclined to use herbal-based products”, assures Mr. Seresinhe. CIC also supports sustainable initiatives like using rice paddy husks as fuel or developing green lands to promote biodiversity; and they also promote better living standards by hiring and sourcing raw material locally, while part-
We are Sri Lanka’s largest tile man- izable products. Like Mr. Jayasekera explains, ufacturer and we export to over 20 “we produce high-quality, tailor-made products countries, making us the in any amount or size customers country’s largest exporter require, including small orders of ceramic tiles”, assures such as 300 to 400 m2.” Mr. Mahendra Jayasekera, Likewise, Lanka Tiles disManaging Director of Lan- «We give hope to tinguishes for its environmental ka Tiles. In a sector challenged new generations sustainability and community enby fierce regional competition, by ensuring we gagement. All their products are lack of raw materials and energy cause minimal GREENSL® Label-certified and security, Lanka Tiles has built a they run a youth empowerment environmental solid clientele and reputation program to provide young peothanks to its international voca- damage and ple with marketable, digital skills tion, technology-driven innova- creating a sense of to access better jobs and countertion and uncompromising qual- belonging among act the country’s brain drain. “We ity standards. give hope to new generations by them» Their seven collections of ensuring we cause minimal envihigh-end porcelain and ceramic MAHENDRA JAYASEKERA ronmental damage and creating a products, which include their sense of belonging among them”, successful Mosaic tiles, are particularly oriented states Mr. Jayasekera. It is precisely this faith in towards the US market and can also be found the future that has driven Lanka Tiles remarklocally. Additionally, they specialize on custom- able success.
eryone has one clear objective: produc- cently ventured into the Chinese market and ing first-class biscuits and cookies that will soon expand to India and other African countries. As Mr. Jayawardena delight consumers worldexplains, “Maliban Ginger Cookwide”, states Mr. Ravi Jayie is now the flagship product awardena, CEO of Maliban in China. It is being served onGroup. A truly family business, board high-speed trains across in its 75 years Maliban Group «We look at the country.” has grown exponentially, intro- sustainability as They are also concentrating ducing the country’s first ma- an opportunity on sustainability by collectively chine-made biscuits and devel- of gaining a optimizing their operations and oping an extensive ISO-certified competitive products to address GHG emisproduct portfolio in its state-ofadvantage while sions, continuously training their the-art manufacturing facilities, employees and adopting a “reall while maintaining the values improving our use, reduce, recycle” approach. imprinted by its founding chair- performance» “We look at sustainability as an man: “give consumers only what RAVI JAYAWARDENA opportunity of gaining a competis fit for your children.” itive advantage while improving Today, Maliban Group has our performance”, says Mr. 3000 employees and proJayawardena, showcasing duces over 25 milhow their focus on lion packs of bisproduct qualcuits monthly, sold ity has built in 90,000 stores nathem a loyal tionally and exportand expanded to 50 couning customtries across five er base. continents.
Special Report
SPECIAL REPORT SRI LANKA
Rubber
11 International quality certifications.
Interface Ultragrip
Showcasing a new and innovative grip, this glove is a first of its kind. With a wave-like porous structure the gloves specialize for grips in oily environments.
ANDREW NG CEO DIPPED PRODUCTS
Impact Range
Providing protection from impacts to the back of the palm, this range of gloves truly offers 360° protection.
+4500 rubber farmers and latex suppliers.
ONE WORLD MEDIA INDEPENDENT ADVERTISING SUPPLEMENT
93% of sector companies consume renewable energy.
Interface Eco
DPL’s first glove with integrated biodegradable technology, whilst serving the same purpose as a regular glove it’s the more environmentally friendly option to use.
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5 state-of-the-art manufacturing facilities.
Fudo shield A6
Fitting perfectly onto its wearers hands, this glove protects its wearer and ensures no contamination on contact, making it ideal for the food industry.
Global leaders of innovative protective hand-wear solutions Made with the latest technologies, Dipped Products PLC’s wide range of high-quality products are internationally certified, environmentally responsible and being sold in over 70 countries across 6 continents.
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A focus on innovation, product industries. Here you find world-class facilities quality and a strong commit- meeting the most stringent global compliance ment to ESG criteria are the standards, that is why our sector has been able key factors drivto demonstrate global competiing our growth”, tiveness through the years”, asstates Mr. Andrew Ng, Mansures Mr. Ng. aging Director of Dipped For Dipped Products, this com«A focus on Products PLC (DPL), a subpetitiveness is closely tied to the sidiary of Hayleys PLC. For innovation, company’s integrated approach, over forty-five years, Dipped product quality as it guarantees cost efficiency Products, a listed company in and a strong and quality control over the whole the Colombo Stock Exchange, commitment to value chain, from raw materials to has been growing steadily and final product distribution. As Mr. ESG criteria are transforming Sri Lanka’s protecNg explains, they start sourcing the key factors tive hand-wear industry. Today, high quality latex from their Sri they operate five manufacturing driving our Lankan plantations as well as imfacilities in Sri Lanka and Thai- growth» porting synthetic latex from repuland capable of producing over table suppliers globally. The source 350 configurations of their 150 ANDREW NG materials are taken to their stateproducts, making them one of of-the-art installations where they the world’s most reputed glove manufacturers transform latex and yarn into hand protection for household, industrial, medical and sporting gloves and sleeves using custom designed aduses. “Nowadays, Sri Lanka is known globally vance dipping manufacturing equipment and for its latex glove and solid tire manufacturing flexible production systems. Following strict
Rubber Plantation. Photo by Andreas Krappweis and internationally-certified quality assurance controls in both their systems and products, «We are cognizant of our they develop & design customized artwork and environmental impact and are sustainable packaging and finally guarantee committed to driving energy on-time delivery through their trusted distribefficiency and water recycling utors worldwide. DPL’s expertise does not limit to manuwhile reducing the company’s facturing, packaging and delivering, they are carbon footprint. » also at the forefront of the industry’s innovation. The company is continuously developing ANDREW NG new products adapted to their client’s specialized needs, as well as scrutinizing their established with the continuous improvement culture in our DPL Production System (DPS) products to keep By applying Total Productive Mainin line with new tenance, Six Sigma and Lean methodolmarket trends and ogy we drive quality and deilvery each day”, demands. In orassures Mr. Ng. der to achieve this, Similarly, this commitment extends to the Dipped Products relies communities involved in on their technologicalDPL’s operations by ly advanced installations, guaranteeing longwell-equipped R&D facilterm sustainable value ity, and an expert team across its supply chain. of chemists, technicians The company has impleand engineers. Like Mr. mented the multi-facNg says, “our highly eted, ethical rubber skilled workforce with production initiative many years of industry “DPL Firstlight”, experience is what helps which strives to us stay ahead of regional empower over 4500 and global competition.” latex farmers to be Moreover, a signifself-reliant and sustain icant part of their innotheir families. Like Mr. Ng vative efforts are directed explains, “as a responsible towards ensuring the environcorporate citizen, Dipped Prodmental sustainability of their opucts has widened the network of erations. DPL’s Forest Stewardship rubber farmers under our award Council (FSC) Certified Latex Gloves winning “DPL Firstlight” initiaare manufactured in an environmentive, which contributes towards tally and socially responsible manner their socio-economic empowerwith FSC certified materials sourced ment through ensuring fair and from DPL’s own FSC certified planta- «Our highly guaranteed pricing and capacity tions. “We are cognizant of our en- skilled workforce building initiatives.” vironmental impact and are commit- with many years In the future, Dipped Prodted to driving energy efficiency and of industry ucts will keep expanding its water recycling while reducing the experience is global reach by continuously decompany’s carbon footprint. We have veloping their human expertise, invested in converting all our boilers what helps high production standards and to biomass, thereby achieving over us stay ahead sustainable innovation. After all, 90% reliance on renewable energy”, of regional their goal is to become the preexplains DPL’s Managing Director. and global ferred provider of hand protecDeveloping their employees’ competition» tion wear in the world and live professional and personal growth up to DPL’s promise of “Protectis another priority for Dipped ANDREW NG ing You Always”. Products. With training initiatives applied at all levels of the organization, they promote leadership, efficiency and ensure high quality of work is maintained throughout our operations. “Recruiting the right talent, leadership development, promoting employee capability and nurturing a high performance culture are key priorities to maintain DPL’s high standards. We are committed to ensuring learning initiatives that are aligned
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ONE WORLD MEDIA INDEPENDENT ADVERTISING SUPPLEMENT
Real Estate
Special Report 150 years heritage of consistent company growth.
SPECIAL REPORT SRI LANKA
20.000+ Employees in all sectors, across 70 companies.
Cinnamon Life: South Asia’s next modern epicenter Conceived as a futuristic mixed-use development, Cinnamon Life will combine luxury residential, hospitality, business, and entertainment spaces.
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Cinnamon Life will offer something that Sri Lanka couldn’t offer in previous years: a whole city concentrated in one single real estate project”, states Mr. Krishan Balendra, Chairman of John Keells Group, one of the largest listed conglomerates in the country, and the project’s property developers. Centrally located in the heart of Colombo, Sri Lanka’s commercial capital, Cinnamon Life comprises over 10-acres of integrated spaces that are set to revolutionize Sri Lanka’s real estate market. The innovative mixed-use complex will host two residential towers of 425 luxury apartments, a five-star Cinnamon hotel of 800 rooms, a 30 storey office tower, and a retail and entertainment complex, as well as conference venues and car parking facilities. While the two apartment towers and the office tower are now completed, the hotel is expected to be partially operational by the end of 2022, with the rest of the project scheduled to open in 2023. “Cinnamon Life is so much bigger than what we have had previously. Once it is ready it will allow us to host larger events in multiple locations”, assures Mr. Balendra. Cinnamon Life has been designed by artist, architect, and engineer Cecil Balmond, who is internationally recognized for his futuristic architectural projects. Under his unique vision, the Cinnamon Life urban complex will go beyond offering modern living comforts. With a design that blends advanced art, architecture and science, it is also expected to put Sri Lanka on the world’s architectural design map and redefine Colombo’s skyline. Furthermore, Cinnamon Life is setting a new benchmark in sustainable construction practices
15 Luxury state-of-the-art Cinnamon Hotels & Resorts in the most remarkable locations in Sri Lanka and the Maldives.
KRISHAN BALENDRA CHAIRMAN JOHN KEELLS GROUP
«With a design that blends advanced art, architecture and science, it is also expected to put Sri Lanka on the world’s architectural design map and redefine Colombo’s skyline. » KRISHAN BALENDRA
Cinnamon Life Integrated Resort , Colombo, Sri Lanka. in Sri Lanka. Being part of the John Keells Group’s press its commitment to Sri Lanka’s communities and the environment with the Group’s pioneering social entrepreneurbusinesses contributing a minimum ship project, Plasticcycle, and in of 1% of their annual profit towards partnership with AGC Innovate, CSR. All initiatives are managed by Cinnamon Life has become an «Cinnamon the John Keells Foundation in the example of how major construcareas of livelihood development, ention projects can incorporate Life will offer vironment, disaster relief, arts and Plastic Modified Asphalt Concrete something that (PMAC) into its road surfaces. Sri Lanka couldn’t culture, health and education. Given Cinnamon Life’s attracWith this new paving technology, offer in previous tive combination of sophisticated over 900 kg of waste plastic and years; a whole comfort, innovative architectural polythene bags are expected to be city concentrated design, ambitious scale, strategic recycled by the end of the project, location in the heart of the city, thus contributing to solving Sri in one single real and sustainable technologies, this Lanka’s plastic waste crisis and es- estate project» mixed-use development is bound tablishing a pathway toward cirto become Sri Lanka’s pinnacle of cular economies in the country’s KRISHAN BALENDRA modern luxury living and the reconstruction sector. The John Keells Group continues to ex- gion’s next commercial and lifestyle hub.
10 ACRES
800 ROOMS
OF INTEGRATED SPACES
427
RESIDENTIAL UNITS
5 STAR HOTEL
Cinnamon Life HIGHLIGHTS
30 STOREY OFFICE COMPLEX
Cinnamon Life map and highlights. Infographic by Maricruz Rojas
5 STOREY SHOPPING AND ENTERTAINMENT SPACE