MONETABRIEF – The establishment of a Sri Lanka Vietnam Business Council under the Ceylon Chamber of Commerce will strengthen growing economic links between the two countries and bring people together, its promoters said.

When Vietnam President To Lam visited Sri Lanka the two countries had decided to elevate the relationship to a comprehensive partnership, which is a status that exists with only a few countries.

"For this partnership to grow further, we need not only close government-to-government relations, but also stronger connections between our businesses and our people," Vietnam's ambassador to Sri Lanka Trinh Thi Tam said at the inaugural meeting of the council.

"That is why I believe the Council is coming at the right time.

"It can provide a practical platform for businesses from our two countries to meet, exchange information, explore opportunities and develop cooperation, thus contributing further to bilateral trade and investment."

"The embassy of Vietnam is ready to support the Council and its members in every possible way."

In August, State-run Vietnam Airlines and privately owned VietjetAir started direct flights, fulfilling a longtine request of the business community.

Bilateral trade is 300 to 400 million dollars a year, though a target of a billion US dollars has been set for 2030.

In the two months since direct flights started, the embassy had organized 10 Vietnam business delegations to meet local counterparts, Ambassador Tam said.

Mahen Kariywasam was elected the first President of the Vietnam Sri Lanka Business Council.

"As the first President of this Council, I see a tremendous opportunity to disseminate tourism, aviation, agriculture, manufacturing, technology and logistics," he said.

"To improve the economic development of Sri Lanka, we need a key catalyst in promoting tourism and facilitating trade, bringing our business communities closer together.

"Our objective must be to transform the long-standing friendship between our two nations into a tangible economic gateway."

The Council planned to work both the embassies of Sri Lanka and Vietnam, the respective governments, as well as the private sectors.

"We are not merely establishing another business organization," Kariywasam said.

"We are creating a bridge between two friendly nations with the potential to generate new opportunities, strengthen commercial ties, and contribute to the prosperity of our people."

(Colombo/Oct07/2026)