Information Technology (IT) has become a vital component in the context of policy for science and technology development in many countries. We aspire to be the latter. Today, Westgate Interiors is the market leader in corporate interiors, combining cutting edge … Asia is home to 50% of world's fastest growing companies Tencent leads 1,679 'ten baggers' and India emerges as top incubator, data show Tencent scored a … Interestingly, the top 10 fastest-growing companies grew rapidly irrespective of the categories (food and beverages, personal care or household) they operate in. The success of Singapore may be attributed to one of the world’s best ranges of government online services and e-participation tools, among other factors . Sri Lanka acts as an off-shore development centre and joint venture development centre to several Fortune 500 companies and industry leaders from the North American continent, Great Britain, Australia, Sweden, Norway, and Japan. 7. 6. Lifeline Pharmaceuticals (Pvt) Ltd, is one of the fastest growing pharmaceutical companies in Sri Lanka established in 2006. Power generation has been expanded with the building of two coal powered stations (900 MW in total) and a 150 MW hydro project. It was a land that had many immigrants. Precious Metals Production in the UK. Enifs is one of the fastest growing companies in Sri Lanka with a proven track record of delivering exceptional quality in custom software development, web designing and security surveillance systems (CCTV/Access control). 8. In many countries they are growing at double the rate for the economy as a whole. Sri Lanka has an open market economy and is the first country in South Asia to liberalize its economy. Most of the people in Sri Lanka use English, Tamil, and Sinhala for communication with each other. The fastest growing individual sector in the 1980s was textiles, which made up approximately 29 percent of industrial production in 1986. Ranked among the Top 25 Global Outsourcing destinations by AT Kearney and among the Top 20 Emerging Cities by Global Services Magazine, the Sri Lankan environment is highly conducive for allowing global enterprises to enjoy premium access to a high quality talent pool for small to medium scale engagements whilst establishing high-in-demand niche competency centers. The growing ICT industry in Colombo offers a unique advantage for Small and Medium Enterprises (SME) to enjoy premium access to a high quality talent pool, which is becoming increasingly challenging in large established destinations such as India and China. It is evident that the construction industry differs from other industries due to its fragmented nature and involvement of expert knowledge, judgment and experience. What’s important is that you have a faith in people, that they’re basically good and smart, and if you give them tools, they’ll do wonderful things with them.” – Steve Jobs. Interestingly, the top 10 fastest-growing companies grew rapidly irrespective of the categories (food and beverages, personal care or household) they operate in. What we can Learn from Indian Premier League (IPL) ? 4. Sri Lanka is putting in place a strong foundation upon which rapid economic growth can be achieved. The enormous tourism potential of the country is being supported by new hotel. During that time, the number of foreign permanent residents has increased from 112,000 to 531,000 and the number of foreign employees on a temporary work visa from 311,000 to over 1.5 million. “In India it has historically been a numbers game, with a wide range of services offered at a low price point,” Mack Gill, CEO of MillenniumIT, a local IT firm providing capital markets software and services to a number of global exchanges, told OBG. Sharing what Singapore was some decades ago, Kee said: “Singapore was a fishing village and a land with no natural resources. Sri Lanka is ranked among the Top 50 Global Outsourcing destinations by AT Kearney and ranked among Top 20 Emerging Cities by Global Services Magazine. According to the Economist Intelligence Unit, the cost of living in Singapore has soared. The top startups for Sri Lanka in Startup Ranking featuring startups/companies like Ikman.lk, Roar Media, PayHere, Wasi.lk, IdeaBeam, XpressJobs, Teer Teer Results. Access is one of Sri Lanka’s fastest growing conglomerates. Today it hardly has any manufacturing plants since it has moved away from low tech to higher tech and value-adding industries. He noted that pursuit of excellence was another reason. While stressing on the need to invest in local talent, Kee said that as a developing economy, Sri Lanka will lose the best of its young people. In the UK they contributed £101.7 billion to the economy, … We teach our younger generation to never settle for a ‘no’ or ‘cannot be done’. In the meantime, to help understand what Sri Lanka needs to move to the next level, the Institute of Certified Management Accountants of Sri Lanka (CMA) conducted its annual conference under the theme ‘Sri Lanka 2.0 and Beyond: Fast-tracking Economic Development 2020’. Please fill in all the required fields given below and upload your CV. The highly diversified landscapes and natural attractions in Sri Lanka have been welcoming a growing number of visitors to the country. Sri Lanka acts as an off-shore development center for several fortune 500 companies from the USA, Ireland, UK, Australia, etc and joint venture development center companies from Sweden, Norway, USA, Japan etc. From : http://www.dailynews.lk/?q=features/sri-lanka-asia-s-fastest-growing-economy, ஐரோப்பா மற்றும் மத்திய ஆசியா, ஐரோப்பிய ஒன்றியம் மற்றும் பொதுநலவாயம், சமுத்திர விவகாரங்கள், சுற்றுச்சூழல் மற்றும் காலநிலை மாற்றம், வெளிநாட்டு ஆதன முகாமைத்துவம் மற்றும் அபிவிருத்தி, http://www.dailynews.lk/?q=features/sri-lanka-asia-s-fastest-growing-economy, APPOINTMENT OF AMBASSADOR EXTRAORDINARY AND PLENIPOTENTIARY OF THE PEOPLE’S REPUBLIC OF CHINA, Certificates issued by Private/ International Schools, Overseas Administration (Assets) Division, Overseas Administration (Personnel) Division, Overseas Sri Lankans And Cultural Diplomacy Division, State Minister of International Cooperation, இருதரப்பு விவகாரங்களுக்கான மேலதிக செயலாளர் (கிழக்கு), இலங்கை வெளிநாட்டு வேலைவாய்ப்பு பணியகத்தினால் வழங்கப்படும் பயிற்சி சான்றிதழ்கள், இலங்கையிலுள்ள வெளிநாட்டு கௌரவ காவற்றூதர்கள், உள்நாட்டிலும், வெளிநாட்டிலும் அங்கீகரிக்கப்பட்ட வெளிநாட்டுப் பரீட்சைகள் தொடர்பில் வழங்கப்படும் சான்றிதழ்கள், உள்நாட்டு பல்கலைக்கழகங்களினால் வழங்கப்படும் பட்டச் சான்றிதழ்கள், ஐக்கிய நாடுகள் சபை, மனித உரிமைகள் மற்றும் பல்தரப்பு உடன்படிக்கைகள் மற்றும் கடமைகள் பிரிவு, குறிப்பிடத்தக்க சட்டபூர்வ அதிகாரசபைகளின் கீழ் பல்வேறு அரச நிறுவனங்களினாலும் வழங்கப்படும் அனுமதிப்பத்திரங்கள் மற்றும் ஆவணங்கள், கொள்கைத் திட்டமிடல், ஆராய்ச்சி மற்றும் மனித வள மேம்பாடு, சத்தியக் கூற்றுகள் / அற்றோனித் தத்துவங்கள், சமய மற்றும் கலாச்சார நிறுவனங்களினால் வழங்கப்படும் சான்றிதழ்கள், சமுத்திர விவகாரங்கள், சுற்றுச்சூழல் மற்றும் காலநிலை மாற்றப் பிரிவு, சர்வதேச பாதுகாப்பு மற்றும் பயங்கரவாத தடுப்புப் பிரிவு, தனியார் / சர்வதேச பாடசாலைகளினால் வழங்கப்படும் சான்றிதழ்கள், தனியார் நிறுவனங்களினால் வழங்கப்படும் சேவைச் சான்றிதழ்கள், திருமணமாகாத நிலையினை உறுதிப்படுத்துவதற்கான சான்றிதழ், தொடர்பு கொள்ள வேண்டிய விபரங்கள், அமைச்சர் பணியகம், தொடர்பு கொள்ள வேண்டிய விபரங்கள், செயலாளர் பணியகம், தொலைந்த கடவுச்சீட்டுக்கள் தொடர்பான பொலிஸ் அறிக்கைகளை சான்றுப்படுத்தல், தொழில்னுட்ப மற்றும் தொழிற்பயிற்சிக்காக தாபிக்கப்பட்டுள்ள நிறுவனங்களினால் வழங்கப்படும் சான்றிதழ்கள், நிர்க்கதியான மீனவர்கள் / பணியாளர்கள் மற்றும் கடற்கலங்கள், பட்டய அல்லது தொழில்சார் நிறுவனங்களால் வழங்கப்பட்ட சான்றிதழ்கள், பரீட்சைகள் திணைக்களத்தினால் வழங்கப்படும் சான்றிதழ்கள், பிறப்பு, திருமண மற்றும் இறப்புச் சான்றிதழ்கள், பொலிஸ் தலைமையகத்தினால் வழங்கப்படும் பொலிஸ் தடைநீக்க அறிக்கைகள், லத்தீன் அமெரிக்கா மற்றும் கரிபியன் பிரிவு, வியாபாரத்துடன் / கம்பனிகளுடன் தொடர்புபட்ட ஆவணங்கள், வெளிநாடுகளினால் வழங்கப்படும் பொலிஸ் தடைநீக்க அறிக்கைகள், வெளிநாட்டிலுள்ள இலங்கையர்களின் சிறைச்சாலை விதிமுறைகள் தொடர்பான விடயங்கள், வெளிநாட்டிலுள்ள இலங்கையின் கௌரவ துணைத் தூதரகம், வெளிநாட்டில் நடைபெறும் பிறப்புகள் / திருமணங்கள், வெளிநாட்டு பல்கலைக்கழங்களினால் வழங்கப்படும் பட்டச் சான்றிதழ்கள், பல்தரப்பு விவகாரங்களுக்கான மேலதிக செயலாளர், இருதரப்பு விவகாரங்களுக்கான மேலதிக செயலாளர், பொருளாதார விவகாரங்களுக்கான மேலதிக செயலாளர், Foreign Minister Tilak Marapana meets Belgium Foreign Minister Didier Reynders in Brussels. Moving on to lessons learnt over the years, Prof. Kee pointed out that Singapore learnt a great deal from international experience. Sri Lanka Table of Contents. From humble beginnings in 1990, the company has since evolved and diversified into many fields, deriving strength from its core business areas which are engineering and construction, property and real estate, automotive, healthcare, information technology, power and energy, aviation, telecommunication, … Sri Lanka provides some ICT & BPO facilities for business entities that have set-up their operations in the island. Further expressways are planned linking Colombo with the North and East. Despite official statistics, expats in Singapore will assure you that people are leaving Singapore at a much higher rate than ever before. Step forward to today and it is Singapore that has the foreign exchange reserves, amazing infrastructure, world renowned education and it is Sri Lanka that is recovering from a period of war, a civil war between the Sinhalese majority and the Tamil minority located in the North of the island. Sri Lanka is the world's second largest tea exporter and the fourth largest producer of tea. Over 450 acres of land is being reclaimed from the sea adjacent to downtown Colombo to created ‘Colombo Port City’ in a $15 billion project. It was the immigrants who brought the best of ideas for us to develop.”. While the latter has a GDP of $ 276,520 comparing to Sri Lanka’s GDP of $ 59,423, Kee noted that the nation, which has been through three decades of war, is now growing at a much faster economic growth rate. Sri Lanka - Sri Lanka - Industry: Sri Lanka’s mineral-extraction industries include mining of gemstones and graphite; excavation of beach sands containing ilmenite and monazite; and quarrying kaolin, apatite, quartz sand, clay, and salt. 5. As long as Sri Lanka has the right passion, it will reach for success,” he told audience. The general election of 2016 has the potential to rock the People's Action Party (‘PAP’), the party of Lee Kwan Yew that has dominated Singaporean politics since 1965. You can see that all of the startups mentioned above are local ones thriving its way to reach the utmost level of success in your satisfaction within your expectations. George Steuart & Co was established in 1835 as one of the earliest merchant bankers and coffee brokerages in Ceylon. Please fill in all the required fields given below and upload your CV. “This means that if you are smart, good and capable, it doesn’t matter what your colour, religion, and who your parents are, it depends on what you have done with yourself and education,” he said. Housing rental yields are collapsing. Sri Lanka is the only area that produces commercial quantities of Vein graphite, which is also known by the names Ceylon graphite, Sri Lankan graphite, Plumbago and crystalline vein. 5. We will contact you if a suitable vacancy becomes available. In conclusion, it must be stated that despite adverse criticism by disgruntled elements, as the above experts have indicated due to the far seeing vision of the present regime under the guidance of President Rajapaksa our motherland Sri Lanka has achieved the position of the fastest growing economy in Asia. In the past, expat talent was largely productive, attracted by jobs or the opportunity to build businesses in a key economic hub. Minerals include mineral sands deposits of the North and some of the best large flake graphite so critical for the new super nano-material known as graphene to a multitude of gems, most notably sapphires which are reputed to have the best colour and clarity of any found in the world. The country is planning to take advantage of this strategic location by expanding its Southern Port at Hanbantota and at the capital city of Colombo. The Employer of Choice survey is conducted annually amongst a student base comprising undergraduates from both … However, it is not just locals that are suffering. Tourist numbers are increasing by over 20 per cent per annum and the national airline has recently joined the One World Alliance. The workforce is stable with very low attrition rates ranging from 10-15%. Moreover, its variety of climates from the tropical coasts to the cooler highlands permits many other agricultural products to be grown. These Companies include: HSBC, Industrial & Financial Systems (IFS), Amba Research, RR Donnelley, Quattro, Virtusa, eCollege, Eurocenter, Valista, Millennium Information Technology (owned by London Stock Exchange), Innodata Isogen etc. Whilst Chinese investment may be one of the factors now hurting Singapore, it has certainly propelled Sri Lanka and looks destined to continue to support the island's expansion. Although we can be happy about this achievement, can we be equally … Colombo, January 27 th, 2021: Unilever Sri Lanka, one of the country’s largest fast-moving consumer goods companies, was recently adjudged the No. The real estate market, a key barometer of sentiment across Asia, is also showing concerning signs. The last general election in 2011 saw the party lose a General Representation Constituency (‘GRC’) for the first time (to the Workers Party). Construction Industry as a whole is now geared to explore the full benefits of IT. This helps us to think out of the box and push the boundaries continuously. House prices are falling. “When I look at Sri Lanka, I note there is tremendous optimism since the country has immense opportunities. China recognised the strategic importance of Sri Lanka and has been the largest investor in its infrastructure expansion. Looking at Singapore, we were nothing but a piece of rock. 3. Highlighting the possible causes of Singapore’s success, Prof. Kee noted that the prime reason was the country having a stable and efficient government very early on. This is all potential supply that still has to be launched into a declining rental or sale market. Expand your career horizons by joining one of the fastest growing companies in Sri Lanka. The complex system of ownership now means that if you can afford a car, you may as well buy a luxury car. It helps to diversify and commercialise farming; enhance … To retain them, he emphasised on the need to create opportunities and train locals. This research establishes the current use of IT in the Sri Lankan construction industry. A Sri Lanka Sapphire was featured in Kate Middleton engagement ring that was previously owned by Princess Diana. Official figures show three consecutive quarters of decline. A GRC is a larger constituency that elects a slate of MPs from the same party. Today, bigger cars dominate. Tourism is now becoming one of the fastest growing as well as a promising industry in Sri Lanka. 6. So the big question is whether Singapore has reached the peak of its potential, at least for the time being? The capital of the country is Colombo. The ‘Chinese factor’ of buying properties for investment but leaving them empty is resulting in a large stock of housing that lies empty. In addition, Sri Lanka has emerged as the most preferred ICT hub in the Asian region. The research also draws out recommendations for strategic use of IT and suggests an IT framework for Sri Lankan Construction Industry. Sri Lanka known chiefly for cricket, tea and a horrid civil war! Whilst the low paying garment and textile industries remain strong in Sri Lanka, the higher value software and business processing industries are expanding … The total tourist arrivals to Sri Lanka in 2018, amounted to more than 2.3 million, which welcomed 2.17 million in 2017. Volume on the Singapore Stock Exchange has collapsed to around $1 billion, over 40 per cent down year on year and Moody's continues to warn of pressure on the credit ratings of Singapore banks. Many global companies have been operating in Sri Lanka for decades. This is undoubtedly the most common coffee shop conversation in the city at the moment. 4. Has being declared the most expensive city in the world heralded a ‘top’ for Singapore that is now about to be followed by a period of consolidation or even decline. Basically, Sri Lanka is an island country. Such expatriates are being replaced by mainland Chinese investors whose primary focus is moving portfolio investment offshore and hence is less accretive to the economy. (adsbygoogle = window.adsbygoogle || []).push({}); RE: What do you think about the private medical university issue in sri lanka. Expand your career horizons by joining one of the fastest growing companies in Sri Lanka. In July 2014 Sri Lanka inflation rises to 3.6 percent. Sri Lanka has an open market economy and is the first country in South Asia to liberalize its economy. “Send them overseas and give them a good education. This lay at the heart of Singapore government policy. Also, when adapting international lessons to local context, it ensured that only the best practices, knowledge and technology were selected. Literally every oil tanker and container vessel travelling from Europe and the Middle East to East Asia (and back) has to pass within a few kilometres south of Sri Lanka. We are a multi-ethnic country and we acknowledge that we need harmony and cooperation. However, this is only a small portion of the expansion of Sri Lanka's tourism sector which counts local and regional brands as well as a wealth of boutique and villa hotels. Prepare yourself for the world’s largest blue sapphire […]. We had to innovate in order to survive. Tourism in Sri Lanka is growing rapidly. Earnings from exports of IT sector have shown a steady upward trend during the past decade, and Annual exports of the ICT sector for the last three years recorded as US $ 213 million in 2007, US $ 256 million in 2008 and US $ 271 million in 2009. Software services sector focus on Telecommunication and Software Testing. However, the Sri Lankan government of President Rajapaksa has embraced Chinese investment whilst trying to reassure India that its intentions are not inconsistent with maintaining close links to its neighbour. Retail is another growing sector in Sri Lanka. It is this correspondent's belief that the growth story of Singapore has ended and investors need to look for its successor. 9. Government also provides special assistance on real estate acquisition based on investment and employment generation potential. Whilst the low paying garment and textile industries remain strong in Sri Lanka, the higher value software and business processing industries are expanding strongly with export revenues in this area up from $213 million in 2007 to $600 million in 2013 and having a target of $2 billion by 2030. If they are overseas, make sure they come back. Sri Lanka is keen to further develop its logistics sector, by attracting further investments in integrated and high value-added services to international trading and transporting companies. Following 30 years of civil war that ended in 2009, the economy grew at an average 5.3 percent during the period 2010-2019, reflecting a peace dividend and a determined policy thrust towards reconstruction and growth; although growth … Fastest growing port among major ports of the world. Colombo offers a rapidly growing niche workforce which is highly adaptable, innovative, English speaking and loyal. 7. Chancellor Angelika Merkel, Worlds Largest Blue Whale colony – Discovered in Sri Lanka. 2. Industry, including manufacturing, mining, energy, transportation, and construction, accounted for around 38 percent of GNP in 1986. “We gave everyone the chance to do their very best. Find here a list of 10 chosen investment opportunities in Sri Lanka for your ready reference. The economy rebounded in 1997–98 with growth of 6.4% and 4.7% – but slowed to 3.7% in 1999. Annual exports over the last three years are reported as US$ 348 million, US$ 440 million and US$ 545 million in 2010, 2011 and 2012 respectively, placing the industry among the top 5 on Sri Lanka’s export league table. Singapore is increasingly crowded. Satellite Transmission Services in China. It was essential. Maryland is one of the fastest growing educational consulting company in Sri Lanka dealing with broad range of universities. As one of the fastest growing agency in the region, we are committed to deliver to the best of your satisfaction. Sri Lanka occupies a strategic location adjacent to the main East-West sea lane. You have to identify the best of the young people. Yew Kee, presented a total of 36 speakers to share their views at the two day conference. At the inauguration session held, US Prof. Kee has stated that if Sri Lanka is looked at as a small nation when taking into account its size, Singapore in that same view will be non-existent. Sri Lanka’s textile sector is one of its fastest-growing sectors which contributes 6% percent to its GDP and 40% to exports. Of course, this has led to tension with India, for whom Chinese influence is less attractive. Do you want to start a small business in Sri Lanka? Key Facts: 75% of total container throughput volume is from transhipment. Among them, gem mining is the most important, producing high-value gemstones such as sapphire, ruby, and topaz, in addition to a … “We must set excellence as the benchmark. We (Singapore) are small,” he said. The international airport at Colombo is being upgraded and a new international gateway in the South of the island was recently opened. Two island nations with strategic locations and significant Chinese investment but high economic growth is more likely in Sri Lanka over coming years than in Singapore.”, - Fraser Dinnis - Investment Banking and Equity Markets Specialist - ‘Sell Singapore, Buy Sri Lanka’. The Chinese traveler Fa-Hien visited Sri Lanka as early as the 410's AD/CE, and in the twelfth century, Italian explorer Marco Polo claimed Sri Lanka to be the "best island of its size in the world". The national level Competency Development Programs focus on building Sri Lanka as a Center of Excellence (COE) for key focus domain areas. This is felt on a daily basis by locals and expats alike who are paying more for every day expenses from food to travel. ”All set to buy. Among Globally recognized customers of Sri Lankan ICT products and services are names such as JP Morgan, Google, Microsoft, Qatar Airways and Emirates. The environment is also highly conducive for establishing high-in-demand niche competency centers out of competition for even larger global services companies. We keep asking ourselves if we are a timekeeper or a clock builder. According to the report “Singapore offers the most conducive business and innovation environment worldwide and the second most digital-ready workforce (2nd, behind Finland.) Sri Lanka's F and B industry now fastest growing sector: By Mangala Perera, Chief Operating Officer,C.W. Sri Lanka is emerging as a global ICT destination of choice in number of key focus domain areas. Whilst not dramatic, once again, specific evidence is that sellers that need to sell are having to accept much more dramatic reductions and even new condos are being offered at discounts in excess of 10 per cent. Most of the above given 20 Fastest growing eCommerce sites in Sri Lanka are still progressing, however fast moving in Sri Lanka’s e-Commerce community. Many global companies have been operating in Sri Lanka for decades. The dominant players in the sector include Cargills Food City, Keells Super, Laugfs Sunup, Arpico, and Lanka Sathosa. The country has built new expressways linking Colombo with the key tourist destinations of the South and on to Hanbantota as well as with the international airport. The country is located in the area of the Indian ocean. There are over 300 IT companies that operate in Sri Lanka, mostly small and medium companies and few large global players. Specifically, Sri Lanka shows unique expertise around building intellectual property and software engineering, at a higher value-added segment of the market. The era in which we could fully rely on others is over…. Maryland Consultancy located in Colombo Nugegoda. 185 years later, George Steuart & Co. remains dynamic and competitive, and is one of the fastest growing diversified holding companies in Sri Lanka enjoying industry leadership in tea exports, healthcare, travel, leisure, insurance broking, … The global electrical & electronics industry is distinguished by fast technological advances and has grown more rapidly than most other industries over the past 30 years. Access is one of Sri Lanka’s fastest growing conglomerates. In 1990, there were five times as many small (under 1,600 cc) cars available for sale as larger ones. Sri Lanka emerging as fastest growing MICE tourism market: report. You are where Singapore was at some point in time. The answer is the China Factor! The industry has set a target of US $1 billion in export revenue from the ICT sector by 2015-16. This was generally viewed as a wake up warning for the PAP, but since then, there are many signs that discontent in the country has increased and economic factors are contributing to build further discontent. To follow in the steps of Singapore, Prof. Kee opined that Sri Lanka needs to open up and exploit the international market. One relocation agency reports a three-fold increase in business supporting departing families in June 2014 compared to June 2013. This last point about the ‘Chinese Factor’ is a key issue. However, you must have a retail space in … The two island nations with strategic locations and significant Chinese investment but high economic growth is more likely in Sri Lanka over coming years than in Singapore. Westgate Interiors have been reimagining and reshaping corporate interiors for over 30 years in Sri Lanka. A large number of private universities and institutions... Fast growing information technology industry in sri lanka, Sri Lanka’s IT industry will reach USD 2 bn by 2020, Service Investments: SL among key destinations, IT, BPO industry targets US $ 420 million, hSenid International HRM Conference 2011 gears up, IT and BPO make rapid progress in Sri Lanka, Sri Lanka ranks among leading emerging offshore destinations, George Manuelpillai appointed Regional Director for…, Sri Lanka Public holidays and calendar 2016, World renowned Greatest physicist dies aged 76, These are the coldest Cities on earth where people actually live. Cargills chains command a 50% market share in terms of turnover, with the company holding over 220 outlets spread across the country. Sri Lanka has an open market … 2019-2020 Revenue Growth: 35.9% Industry operators … So far in 2014, prices have fallen 1.1 per cent in Q2, and 1.3 per cent in Q1. We will contact you if a suitable vacancy becomes available. With limited formal retail penetration, Sri Lanka’s modern supermarket-hypermarket segment is among the fastest-growing sectors, with supermarket penetration increasing from 5% in 2005 to around 8% in 2012. The growth in the restaurant industry is driven by growing tourism, increased exposure to international cuisine, and a willingness to experiment with cuisine, particularly among Sri Lanka’s young population. In addition, a concessionary rate of income tax of 15% up to a maximum period of 20 years is also extended after the tax holiday period. Takas.lk. … Singapore is a modern peaceful country envied internationally for many areas from finance to education to logistics. With limited formal retail penetration, Sri Lanka’s modern supermarket-hypermarket segment is among the fastest-growing sectors, with supermarket penetration increasing from 5% in 2005 to around 8% in 2012. This we inculcate in our young people and aim for the system to remain,” shared Kee. The largest selling car brand in Singapore in the first quarter this year was Mercedes Benz with BMW at #3. Colombo has a well established road network with a quality supply of power, modern office facilities and a well developed set of support infrastructure services. The industry has set a target of $ 2bn in export revenue from IT sector by 2012. Let's go back to 1956 when the father of Singapore, Lee Kwan Yew first visited Colombo, the capital of Sri Lanka. 3. Tax holidays up to 5 years and concessionary rates of income tax 5-15% is also extended after the tax holiday period. Sri Lanka's was nicknamed the ‘Teardrop Isle'. Furthermore, it ensured that there is continuous improvement and international benchmarking. Just like that!” ‘’Sri Lanka’s largest lifestyle store.’’ Lahiru Pathmalal … Animal feed is one of the important export industries and it is a growing industry in Sri Lanka. Dinnis stated that Singapore is showing signs that its extraordinary growth of recent years may be reaching an end as it reaches its 50th birthday while Sri Lanka is putting in place a strong foundation upon which rapid economic growth can be achieved. As a modern trading nation, Sri Lanka, now exports more than 2,000 products to almost every country in the world. 2. The second possible cause he said was that advancement and promotion was based on meritocracy. There are over 300 IT companies that operate in Sri Lanka, mostly small and medium companies and few large global players. “But Sri Lanka is coming at it from a different perspective, as it is obviously smaller, but also has a strong legacy in engineering.”. 8. The system has to be patient and must make them leaders,” said Kee. Fallen 1.1 per cent in Q1 you may as well buy a.! Under 1,600 cc ) cars available for sale as larger ones and been... 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