Sri Lanka-Maldives Business Council hosts 17th AGM

• Leads landmark business forum in Maldives

The Sri Lanka-Maldives Business Council of The Ceylon Chamber of Commerce concluded its 17th Annual General Meeting (AGM), with High Commissioner of the Republic of Maldives Masood Imad attending as the chief guest. 

Sri Lankan High Commissioner designate to the Maldives M.R. Hassen and John Keells Holdings President Leisure Group Suresh Rajendra were welcomed as a special guest and guest speaker, respectively. 

The Hong Kong and Shanghai Banking Corporation Ltd Head of Maldives Desk and Head of Commercial Real Estate Finance for Sri Lanka and Maldives Sanjeewa Perera was appointed as President of the council, while Vice Aitken Spence Travels Ltd President/COO Suranga Ratnayake and Lanka Exhibition and Conference Services (Pvt.) Ltd Director/COO Husnie Rauf were respectively appointed as Senior Vice President and Vice President.

The committee for year 2025/2026 comprises representatives of American Water Systems (Pvt.) Ltd, APIIT Lanka (Pvt.) Ltd, Diesel and Motor Engineering PLC, MAC Holdings, Marine Transport Services (Pvt.) Ltd, Nestle Lanka PLC, Puritas (Pvt.) Ltd, Senok Tad Combine (Pvt.) Ltd, Spillburg Holdings (Pvt.) Ltd and United Tractor and Equipment (Pvt.) Ltd.

Coinciding with the AGM, the council spearheaded the Maldives Business Forum in Malé, held at Hotel Jen. The event was a centrepiece of President Anura Kumara Dissanayake’s official visit to the Maldives, organised with the support of the Foreign Affairs Ministry, Acting High Commissioner of Maldives in Sri Lanka T.S. Dissanayake and the High Commission.

This high-level forum brought together 60 distinguished participants including Dissanayake, Foreign Affairs Minister Vijitha Herath, Maldives Economic Development and Trade Minister Mohamed Saeed, Maldives Fisheries Minister Ahmed Shiyam, Imad, senior officials and top 40 Maldivian business leaders.

The welcome address was delivered by the Acting High Commissioner, followed by remarks from Sri Lanka Maldives Business Council President Sudesh Mendis, who highlighted Sri Lanka’s economic recovery and urged both governments to establish a formal trade agreement and initiate a ferry service between Colombo and Kulhudhuffushi.

Dissanayake’s keynote address underscored Sri Lanka’s post-crisis stability, projecting 5 percent growth in 2025 and emphasising strengthened foreign reserves and controlled inflation, political stability following the 2024 parliamentary elections, investment opportunities in tourism, fisheries, ICT, real estate and logistics and legal reforms to protect investor rights and streamline approvals.

He invited Maldivian entrepreneurs to invest in Sri Lanka’s future, describing the Maldives as “Sri Lanka’s closest friend and trusted partner”.

The forum generated immediate interest, securing approximately US $ 60-70 million in potential investments, including three new hotel projects, a 100-room luxury mountain hotel, a few acres agricultural lease for fruit and vegetable cultivation and exports.

Dissanayake personally addressed investor concerns, including permit delays and announced a “single-window” approval system. His direct follow-up led to swift resolutions and new project approvals.