Flashback 2007

January

Sri Lanka Development Forum was held in Galle themed Mahinda Chintana: Vision for a new Sri Lanka- a 10-year horizon 2006- 2016.Over 50 development partners participated.

February

Celltel, the first cellular operator in Sri Lanka changed it's name to tigo. Celltel was started in 1989 in an era where most Sri Lankans hadn't heard about "mobile phones".

Tigo is a mobile phone network provider in America, Africa and Asia. Based in Luxembourg, the company provides mobile services in 16 countries. With operations across Central America, South America, Asia and Africa, using GSM, CDMA and TDMA on America, GSM and UMTS over Africa and Asia.

President Mahinda Rajapaksa's official visit to China strengthened bilateral relations between two countries. China and Sri Lanka signed eight agreements and MoUs on trade, investment, tourism, and oil exploration.

Tourism Minister appointed new director board and Renton de Alwis as the new Chairman.

New Company's Act was implemented and authorities said that the new Act is user friendly and would enable online registration of companies in the near future. All political parties in Parliament enacted the Act with unanimous support and endorsement.

The new Act will also protect Single Shareholder companies. It will really benefit SMEs who may be apprehensive to face business risks to set up their own businesses. The Act provides special benefits to streamline Single Shareholder companies.

March

Work on the Rs. 360 million Hambantota Port Development project commenced. The Government signed the Contract Agreement with China to construct the phase one of the Project. The first phase of the project estimated to cost US$450 million will be completed within three years.

The contract agreements were signed between the Consortium of China Harbour Engineering Company Limited and Syno Hydro Corporation Limited of People's Republic of China and the Sri Lanka Ports Authority (SLPA) for the construction of Hambantota Port.

Terrorist attack on the Katunayake Airbase. The first air attack of the LTTE on air base hit the operation of the international airport. The attack hit the recovering tourism industry of the county as many countries issued travel warning to Sri Lanka.

April

14th SAARC Summit in Delhi. The 14th SAARC declaration of the heads of state or Government said that the remarkable growth of the economies of SAARC countries has opened new opportunities to pursue the fight against poverty with firm resolve.

They called for deepening of pro-poor orientation of growth process, including through enhancing investment in human capital and infrastructure, increasing budgetary allocations for relevant sectors and improved delivery of services.

They reiterated their commitment towards project-based cooperation to strengthen collective efforts in the region.

New BOI Chief, Dhammika Perera assumes duties and sets US$ 4 billion FDI target for 2007. Dhammika Perera who served as a director of the BOI replaced Prof. Lakshman R.Watawala, the former Chairman.

June

Bandaranaike International Airport resumed night operations after the LTTE air attack.

August

The 1st South Asia Broadband Communication Congress and Expo was held in Colombo.

BOI discussion on 'Nagena Hira Navodaya' East Development program. The discussions focused on bringing new investment to the liberated Eastern Province.

The Information and Communication Technology Agency of Sri Lanka (ICTA) along with the joint IT-BPO industry associations, academia and key private players launched a national strategy for the industry at the National ITBPO summit.

The key objective of the national strategy is to provide a framework for high-end capacity building within the ICT industry and to upscale the professional talent pool to include experts who are beyond mere software engineers.

September

Tea Convention organised by the ColomboTea Traders Association was held at the BMICH.

October

'Ganna Ape De' (Buy Sri Lankan. Be Sri Lankan.), a concept to promote the consumption of local products launched by the Mawbima Lanka Foundation.

Mawbima Lanka, a non-profit organisation, has come in to recognize brands that are truly Sri Lankan by awarding selected brands the right to use 'Ganna Ape De' logo.

Mawbima Lanka which is committed to creating awareness among Sri Lankan people for the usage of locally manufactured products and services came up with this concept for a marketplace where consumers typically seek out and use Sri Lankan products.

This campaign is said to be launched in collaboration with the Ministry of Industrial Development and the Strategic Management Agency (SEMA).

Sri Lanka Tourism won four awards at PATA.

World Spice Food Festival 2007 launched at Galle Face Hotel.

MAS Fabric park, Asia's first green fabric park, the was launched with an investment of US4 30 million in Thulhiriya by MAS Holdings. The project generates 1,200 employment opportunities.

November

President Mahinda Rajapaksa presented his third budget for 2008 unveiling several measures to strengthen the local economy and improve the quality of life of the people.

The budget proposals aim to complete the infrastructure development projects that have been already launched within the next two to three years, provide relief to the low income group addressing their cost-of-living concerns, to strengthen the local producers and the local entrepreneurs.

President proposed to confine tax concessions only to Co-operative Societies and budget shops and distribute welfare packs containing essential commodities at tax free prices to low income groups through these outlets as a measure to reduce the burden on the poor.

While his official visit to Iran President Mahinda Rajapaksa attended Investment and Business forum in Teheran.

Sri Lanka got credit facilities for oil imports and financial support for proposed infrastructure projects from Iran.

December

Ceylon Glass Company relocates factory in Horana. Work commences with over 500 direct and indirect employment.

Ceylinco Finance PLC, new name of Ceylinco Securities and Financial Services.