Lanka top-class trade hub in South Asia

Updated 04 February 2014
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Lanka top-class trade hub in South Asia

On the occasion of the 66th anniversary of the independence day of Sri Lanka, I would like to convey my warmest greetings to my fellow Sri Lankans residing in Saudi Arabia, and would like to thank all our friends for their good wishes.
This is a significant day for the people of Sri Lanka as it reflects the sacrifices made by many Sri Lankans for our freedom.
It has been a matter of great satisfaction that Sri Lanka and Saudi Arabia maintain excellent bilateral relations since the establishment of our mission in 1974.
The relationship enjoyed by our countries dates back many centuries, and is a relationship that is strengthening every day.
Being home to the largest Sri Lankan expatriate work force, Sri Lanka and Saudi Arabia have a mutually beneficial bilateral relationship which is poised to deepen in the future, especially in the areas of trade, investment, labor and cultural cooperation.
Our historically friendly relations encompass all spheres including political, economic, cultural and social. Saudi Arabia is one of Sri Lanka’s most important trading partners in the Gulf region.
Sri Lankan exports to the Kingdom compose of tea, coconut, fruits and nuts, garments, rubber and plants.
Saudi Arabian exports to Sri Lanka include petroleum products, chemical, plastic and fertilizer. More is possible in every dimension of our friendship.
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Sri Lanka has recorded an impressive economic growth rate of 7.5 percent and has an estimated growth rate of approximately 8.0 percent in the 2014.
We are well poised to become a highly sought after investment destination.
A new campaign for development spearheaded by President Mahinda Rajapaksa has created new economic, commercial, and investment opportunities and potentials.
New roads, railway lines, ports, airports and power plants are being built and expanded to support the renaissance in our economy.
In 2014, we plan to expand the volume of trade between the two countries and diversify the product range that Sri Lanka can offer.
The focus of Saudi Arabian investment in post-war Sri Lanka is in the energy, commercial, maritime, aviation and education (knowledge) sectors, which are poised to transform Sri Lanka into a hub in the South Asian region.
We also offer services in the booming hospitality and tourism sector, which Saudi nationals enjoy.
Having emerged as a global IT provider, industries in Saudi Arabia have the opportunity to outsource business processes and knowledge processes to Sri Lanka.
Saudi Arabia is the largest destination for Sri Lankan expatriates seeking employment opportunities.
The amnesty granted by Custodian of Two Holy Mosques King Abdullah was very generous as it gave undocumented expatriates the opportunity to respectfully exit the country and return to Sri Lanka or to rectify their status.
In this process, I am happy to note that more than 100,000 expatriates have changed their professions and around 15,000 Sri Lankans left the Kingdom without facing any penalties.
It also enabled those who returned to Sri Lanka to potentially reapply for jobs and return to the Kingdom, benefitting both the Sri Lankan and Saudi Arabian labor market.
The Sri Lankan Embassy in Riyadh is very grateful for the services provided by the Saudi Arabian authorities during the amnesty, and look forward to continuing cooperation and coordination.
I take this opportunity to express my sincere thanks to King Abdullah, Saudi Authorities and other individual sponsors for their unwavering support and cooperation to the Sri Lankan community in the Kingdom.
It is with great pleasure, I would like to mention that Sri Lanka and Saudi Arabia have signed an agreement on “domestic worker recruitment” in January 2014 to streamline the process of recruitment and to protect the rights of both the employer and the domestic worker.
This will enhance cooperation on domestic worker recruitment in a manner that realizes the strategic interests of both countries.
I am confident that this will further ensure that domestic workers enjoy minimum wages, working hours, paid holidays and other facilities including dispute settlement scheme.
I am happy to note that the increased number of direct flights connecting Colombo and Riyadh, Dammam and Jeddah is also promoting trade, tourism, and people-to-people contact.
Last year, over 23,753 Saudis visited Sri Lanka. Since tourism is the primary area facilitating people to people contact, this Embassy has streamlined its procedure of issuing visas through the ETA system.
The Embassy of Sri Lanka in Riyadh also provides consular and other services to Sri Lankan expatriates both at the mission and through monthly mobile services in the Eastern Province.
This mission will also expand its services to Al-Hail from this year.
As a mission, we strive to constantly improve the services we provide to the public.
Thus, in addition to the daily consular services at the Embassy during which a senior consular official could be met without appointment, Sri Lankan citizens also have the opportunity to meet me without an appointment on Wednesdays.
The embassy’s employment and welfare section has been a support system for our workers.
Sri Lankan pilgrims have been performing Haj from time immemorial.
I convey my appreciation to King Abdullah for graciously making all conveniences for our people to fulfill the 5th obligation of Islam.
On this memorable occasion of Sri Lanka’s 66th Independence Anniversary, I express my deep appreciation for the friendship and cooperation so readily extended by King Abdullah and the government and people of Saudi Arabia in improving relations between our two countries.
Together, we shall surely build a stronger relationship in the years to come.

V. Krishnamoorthy
Sri Lankan Ambassador


GITEX Tech showcases Saudi Arabia’s regional innovation drive

Updated 15 October 2018
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GITEX Tech showcases Saudi Arabia’s regional innovation drive

DUBAI: Dubai’s GITEX Technology week showcased the region’s ability to take the lead in innovation technology, with Saudi Arabia on its way to take the driver’s seat, according to consulting firm Accenture’s country managing director in Saudi Arabia.
“Saudi Arabia will be a leader in supporting innovation and the development of new technology in the region,” Khaled Al-Dhaher told Arab News.
“I think we (Arab countries) can always complement each other in the region to make sure we have the best innovation that is relevant for us and focused on the needs of our markets,” he added.
Among the main drivers behind the Kingdom’s surge into innovation and incubation is the Center of Initiatives at Prince Mohammed bin Salman bin Abdul Aziz Foundation (Misk), which is an exclusive partner at GITEX Future Stars 2018.
Misk Innovation showcased 20 Saudi-based start-ups and incubators, ranging from 3D printing technology (SHAKL) to e-commerce (Zid) to online grocery shopping (ZADFresh).
Another prominent player from the Kingdom was the Badir Program, which helps to sustain and develop pioneering environments within the Kingdom and stays in line with following the crown prince’s Vision 2030 plan.
The plan, unveiled in 2016, is a comprehensive blueprint for the future, laying out a strategy and clear targets to diversify Saudi Arabia’s economy, and develop public service sectors such as health, education, infrastructure, recreation and tourism.
“We see a big support toward start-ups in terms of seed funding, arranging funding rounds, investment funding rounds, which actually is very important to accelerate the growth of these start-ups,” Badir Program’s CEO Nawaf Al-Sahhaf told Arab News, adding: “They (start-ups) created more than 2,000 jobs in the last two years.”
The 38th annual exhibition, which kicked off on Sunday, centered around the rise of smart cities. Dubai’s government featured high-tech stands promoting the emirate’s ruler Sheikh Mohammed bin Rashid’s vision of a totally smart Dubai.
While Dubai is ahead of Saudi Arabia in this respect, the latter is not far behind.
“Saudi Arabia is building new cities now, and one of them is NEOM. Smart cities needs smart solutions and smart products, so Saudi Arabia is a big supporter of entrepreneurs and the private sector in order to come up with these smart solutions,” Al-Sahhaf said.
“Saudi Arabia is moving in this [Smart] direction and we are in good hands,” he added.
The Saudi Technology Development and Investment Company, Taqania, was also featured at the exhibition. Owned by the Kingdom’s Public Investment Fund, Taqania is one of Saudi Arabia’s main proponents in a non-oil dependent Kingdom aligned with Vision 2030, and invests in technology that contributes to the country’s economic diversification.
The exhibition is split among several categories including Gulf Comms & Mobility, Global Solution Providers, Smart Workplace & Smart Homes, Value-Added Distributors, Printing & Automation, Consumer Tech, Enterprise Software, Network & Security, Future Tech and IOT Big Cloud Data.
GITEX Technology week runs from Oct. 14 to 18, with GITEX Future Stars taking place from Oct. 14 to 17.