"it's time to trade. Singapore businessmen should look to Sri Lanka"
- comments by Mr George Yeo, Minister for Foreign Affairs during visit to Sri Lanka,
(reported in Straits Times, 19 Oct 2009)
The
Singapore of Commerce & Industry (SICCI), with the support of the International Enterprise (IE) Singapore and Singapore Business Federation (SBF) will be organizing a trail-blazing exploratory Business Mission to Sri Lanka, covering Colombo, Kandy & Trincomalee, from 17th to 21st November 2009.
In 2008, Sri Lanka's estimated GDP growth rate was about 6%. Singapore's trade with Sri Lanka totaled S$1.49 billion (US$1.07 billion) last year. The key sectors covered during this mission include: Infrastructure & Real Estate, Financial Services, IT & ITES, Healthcare, Tourism and Manufacturing. The mission itinerary will also include meetings with top government officials, one-to-one business meetings, corporate field visits, familiarization tours, presentation by industry experts as well as networking sessions.
A. Objectives of the Mission
- To understand the overall business environment and obtain updates on latest economic developments in Sri Lanka;
- To explore and identify key sectors for joint collaboration between companies from Singapore and Sri Lanka;
- To facilitate networking with top Government officials & key industrial players.
B. Sri Lanka Country Guide
Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka (formerly known as Ceylon, before 1972), is an island situated at the southern tip of India, with a population of about 21 million. The island's strategic location in the Indian Ocean on the major air & sea routes between Europe & the Far East is an advantage to positioning Sri Lanka as a global logistics hub.
The Sri Lankan government has economic policies like privatization, financial & taxation reforms to stimulate growth. With globalization and economic growth, many aspects of Sri Lanka are rapidly changing and progressing. The changing economic and business landscape will present numerous business opportunities for companies seeking expansion into South Asia. Whilst traditional products like tea, cinnamon and rubber still remain vital, the most dynamic sectors currently are food processing, textiles & apparel, food & beverage, telecommunications, banking, insurance, tourism, education, housing, healthcare and lifestyle products.
C. Mission Tentative Itinerary*
Monday,16 Nov 2009:
Depart to Colombo via Singapore Airlines (SQ468)
Arrive in Colombo
Hotel Check-in
Tuesday,17 Nov 2009:
Visit to Katunayake Export Promotion Zone (EPZ)
Networking Lunch
Meeting Sri Lanka Board of Investment (BOI) officials
Familiarization tour
Business Matching Making Session cum Networking Dinner with members of Ceylon Chamber of Commerce
Wednesday,18 Nov 2009:
Meeting with Government Officials
Networking Lunch
Business Matching Making Session cum Networking Dinner with members of the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL)
Thursday,19 Nov 2009:
Travel to Kandy (by coach)
Official Business Meetings
Industry Visits
Familiarization tour
Friday,20 Nov 2009:
Travel to Dambulla (by coach)
Site visit to Dambulla & Sigiriya (World Heritage Centre)
Saturday,21 Nov 2009:
Free & Easy (Morning)
Travel to Negombo (by coach)
Dinner at Negombo
Proceed to Airport
Sunday,22 Nov 2009
Depart to Singapore via Singapore Airlines (01:10am,SQ469)
Arrive in Singapore (07:35am)
|
*Itinerary is update as of 28 of October 2009 and is subject to change by the organizer.
D. Mission Participation Costs & Details (Estimated Costs)
STANDARD PACKAGE
Cities: Colombo, Kandy & Dambulla
Dates: 16 – 22 November 2009 |
| S/N |
Details |
Cost per Delegates |
| 1. |
Air Fare (Singapore Airlines)
(Including taxes and subject to changes in fuel surcharges)
Singapore – Colombo (SQ468)
Colombo – Singapore (SQ469)
Delegates are advised to confirm their flight bookings early to avoid any disappointment. |
Economy Class: S$930
(before IMAP coverage –
up to 50%)*
Business Class: S$2,390 |
| 2. |
Hotel Accommodation – Single Occupancy (5 nights) |
SINGLE: S$610 (per person)
(before IMAP coverage –
up to 50%)* |
| 3. |
All Ground Transport, Airport Transfers &
Common Cost*
*Meeting cum networking sessions, mission literature &
collaterals, mission gifts, English speaking guide as well
as other miscellaneous expenses. |
Member**
S$1,260
Non-Member
S$1,660 |
| |
Total Cost per Delegate
Economy Class with Single Occupancy:
Business Class with Single Occupancy: |
Member**
S$2,800
S$4,260
Non Member
S$3,200
S$4,660
|
* Actual amount of IMAP subsidy will be determined by IE Singapore, after the mission
** Members of SICCI & partnering organizations
E. Mission Funding
Mission participants are eligible to apply for up to 50% subsidy of economy return airfare and hotel
accommodation (IMAP incentive) for only one representative per participating company subject to the
approval from IE Singapore.
OR
Participating companies can apply for Double Tax Deduction (DTD) for travel and accommodation costs for
only one representative per company under the International Marketing Activities Programme (IMAP)
approved by IE Singapore (subject to approval by IE Singapore).
Companies must apply for
DTD DIRECTLY with IE Singapore at least 7 days before the start of the
mission/activity:
(
http://www.iesingapore.gov.sg )
Sign up now! Seats available on first-come first-served basis
Registration
All Registration Forms (see attached) must reach SICCI no later than
9 November 2009
For further queries or information, please contact:
Nirman Sodhi or Sridhar of SICCI at Tel: 6508 0144 or
Email:
sridhar@sicci.com
Payment for this Business Mission should be made in cheque to:
Singapore Indian Chamber of Commerce & Industry
