COYLE’s Diplomats’ Evening 2024 marks strategic steps for Sri Lanka’s economy

COYLE, successfully hosted the annual Diplomats’ Evening on 5 February at Hilton Blue Colombo, marking another milestone in furthering global marketplaces for Sri Lanka’s economic resurgence. With a commitment to fostering equitable growth, this exclusive event aimed to fortify the local employee base through foreign investments obtained via diplomatic relations.

The event, enforced COYLE’s annual theme “Evolution” highlighting the resilience and transformative spirit within the entrepreneurial community. Foreign Minister Ali Sabry participated the occasion as the chief guest, delivering a compelling message on the pivotal role of international cooperation in bolstering Sri Lanka’s economy. Recognising COYLE’s dedication to expanding the export market, the Foreign Ministry commended COYLE’s efforts.

The Diplomats event showcased an engaging agenda, which included an opening presentation by Chinthaka Abeysekere. Elaborating on COYLE’s entrepreneurial training and development agenda, he enlightened the gathering about the second session of the Harvard-styled lecture series to be conducted on 4, 5, and 6. He further emphasised the importance of data knowledge and insights, aligning with COYLE’s mission to strengthen the entrepreneurial community. This program is set to take place, marking a significant collaboration between COYLE, the Harvard Club of Sri Lanka, and Sampath Bank PLC. Renowned Harvard Professor Boris Groysberg will lead the program, focusing on organisational leadership. It brings together COYLE’s dedication to empowering young entrepreneurs, and Sampath Bank’s interest to foster professional growth.

The event also highlighted the upcoming visit of young Indian delegates in late December, featuring the significance of enhancing ties between the two nations for mutual development and prosperity. Additionally, discussions centred around the diplomatic community’s impactful role in supporting local businesses’ entrepreneurial endeavours.

Several successful stories featuring entrepreneurs are highlighted here. Isso CEO and founder Apinash Sivagumaaran showcased the global expansion of the prawn-themed restaurant chain. As one of Sri Lanka’s top restaurant chains, it has revolutionised the industry through affordable, accessible, quality dishes. Partnering with Lasith Malinga, Isso’s process-driven approach, including robotics, ensured consistency and profitability, offering franchisees attractive benefits and high returns.

CBL, a group of companies with diverse food products, highlighted its commitment to quality, innovation, supporting rural development, and women’s empowerment. As the largest biscuit producer in the nation, CBL operates with certifications such as ISO, SLS, and BRC AA+ while also launching socially inclusive brands like Hope and actively promoting rural development and women’s empowerment.

Sicily Projects Consortium showcased the benefits gained from COYLE’s diplomat program, becoming one of Sri Lanka’s largest waste management companies and contributing to environmental sustainability. With its market dominance, it has collaborated with its Korean counterparts to enhance its expertise through knowledge exchange, further solidifying its position in the industry.

As COYLE will be celebrating its 25th anniversary on 10 March, Chairman Rasith Wickramasinghe reflected on its growth and emphasised its commitment to progressive leadership. The Diplomats Evening served as a platform to foster bilateral relations, encourage business opportunities, and unite members and partners.

Foreign Minister Ali Sabry addressed the decline in Sri Lanka’s GDP contribution from exports and expressed gratitude for COYLE’s efforts to expand the export market. He highlighted success stories in Africa, where Sri Lankan companies made a positive impact by contributing to renewable energy in Uganda and expanding the tea industry in Kenya. Moreover, he urged the business community to demand policy consistency across political parties, emphasising the need to minimise social division, populist policies, and policy inconsistency. In the end, he stressed the need for policy consistency to attract investors and outlined the positive trajectory in tourism.

The Diplomats Evening 2024 stood as a beacon of collaboration, innovation, and shared aspirations for a prosperous and united Sri Lanka. COYLE thanked all attendees for networking, connecting, and contributing to the nation’s journey towards sustained economic growth.