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First investor of ‘Colombo Financial City’ arrives

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After the Port City was renamed as Colombo Financial City and launched in Dubai, UAE, four investors from a Chinese company arrived in Sri Lanka yesterday as the first investor to invest in it.

The team of CZK Huarui International Culture and Art (Beijing), a semi-state company in China, is led by its General Manager Sophia Li.

This group of investors arrived in Sri Lanka based on the agreements and MoUs reached with the Sri Lanka Board of Investment (BOI) and the Sri Lanka Ministry of Investment Promotion following the recent visit of Investment Promotion State Minister Dilum Amunugama.

They have planned to establish a gem museum, an affiliated gem testing laboratory and a gem auction center in the financial city of Colombo at a cost of US$ 50 million.

In addition, they have planned to invest another 150 million US dollars to establish an electric vehicle assembly factory under the Sri Lanka Board of Investment.

State Minister Amunugama has prepared arrangements to give the necessary approval for all these investment projects within seven days.

This group of investors arrived from Kunming, China at 08.30 pm yesterday and they were welcomed by BOI Deputy Director Manoj Casseer, Board Director Ranjith Dharmasiri and a group of officials at the Katunayake Airport.

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Man jailed over phone ringing in courtroom dies in custody

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A man who was imprisoned for 14 days after his mobile phone rang inside the Embilipitiya Magistrate’s Court has died while in custody under controversial circumstances, prompting allegations from his family and triggering investigations by prison authorities.

The individual, who had reportedly arrived at the court premises to post bail in a case filed over traffic violations, was detained for allegedly violating the decorum of the courtroom when his phone rang during proceedings.

Prison authorities claim he died of a sudden illness while in custody. However, his relatives have accused prison officials of assaulting him, alleging that the post-mortem examination had revealed that the deceased suffered brain damage from a blow to the head with a blunt object and internal bleeding caused by an injury to the left side of his chest.

Prisons Media Spokesperson Gamini B. Dissanayake said that a full internal investigation is underway into the incident, in addition to a police inquiry.

(adaderana.lk)

(Except for the headline, this story, originally published by adaderana.lk has not been edited by SLM staff)

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President invites Vietnam’s Vingroup to invest in SL

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President Anura Kumara Disanayake, who is currently on a state visit to Vietnam, extended an open invitation to Vietnam’s leading conglomerate, Vingroup, to explore investment opportunities in Sri Lanka’s real estate and tourism sectors.

While congratulating the Vingroup for their achievements and for building a diversified global brand, President Disanayake invited Vingroup to consider investing in Sri Lanka’s real estate and tourism sectors. He further emphasized that Sri Lanka is pleased to facilitate the creation of a smooth and enabling environment for their investments.

The President made these remarks during a business engagement with Vingroup at their Headquarters in Hanoi, yesterday evening (May 04) where he met with Vice Chairman and the CEO of the Vingroup Nguyen Viet Quang and the delegation.

President Disanayake emphasized Sri Lanka’s strategic geographic position, progressive infrastructure development and the government’s commitment to fostering a conducive environment for foreign investors, particularly in high-potential sectors such as tourism and real estate.

Vingroup Joint Stock Company (Vingroup JSC), formerly known as Technocom Corporation, was founded in 1993 in Ukraine. Today, Vingroup is one of Vietnam’s largest and most respected private enterprises, operating as a multi-sector corporation with a focus on three core pillars: industrials & Technology, Real Estate & Services and Social Enterprises.

Minister of Foreign Affairs, Foreign Employment and Tourism, Vijitha Herath also participated in the discussions.

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Complaint filed on Halloluwa’s claim against President AKD

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A complaint was filed with the CID last night (May 04), requesting an urgent investigation into a claim made by former Director of the National Lotteries Board – Thusitha Halloluwa.

Halloluwa had alleged that President Anura Dissanayake had made a large financial investment in Greece.

The relevant complaint was submitted at midnight yesterday by the Attorney-at-Law Akalanka Ukwatte, with President’s Counsel Upul Kumarapperuma.

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