8 Oct

Work begins on Volkswagen assembly plant in Kuliyapitiya

Initially these vehicles would be marketed locally for a period of 3 years and thereafter the vehicles manufactured will be exported to overseas markets. President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe placed the foundation stone today for the construction of a vehicle assembly plant of the German auto maker Volkswagen in Kuliyapitiya.The Board of Investment (BOI) inked the agreement with the German auto maker last year to set up the assembly plant in Sri Lanka at an investment of US$ 26.5 million. BOI is very keen to attract other leading automobile manufacturers into the country as the industry creates opportunities for the creation of local component manufacturers that can supply the building of a complex product such as passenger car. It is estimated that the assembly plant will be operational within a period of 30 months.Volkswagen is a leading German automobile manufacturer based in Wolfsburg, Germany. The Company was founded in 1937 and produces cars, trucks and buses. The company revenue was Euro 197 billion in 2013. It is best known for Iconic models such as Beetle, Golf and Passat.The uniqueness of the project would be the inflows of German advanced automobile technology into the country and creating of job opportunities for the local youth. (Colombo Gazette) Under the agreement the investor will assemble vehicles in the 1000 cc to 2000 cc category. These vehicles will be diesel powered and include passenger cars, Sport Utility Vehicles (SUV), Multi Utility Vehicles (MUV) or commercial vehicles. There is also a potential for export vehicles which would be petrol/electric/ hybrid vehicles to be built without the concessions that have been given for assembling diesel vehicles. The total value of this project will be an investment of US$26.5 million of which 21.5 million will be invested in fixed assets within a period of 24 months.As Volkswagen is currently the world leader in Automobile manufacture, recently overtaking Toyota of Japan, this project is a very high profile one and a statement about Sri Lanka’s growing attractiveness as a destination for investment. read more

2 Oct

Goodman School of Business partners with business school in South Korea on

Brock’s Goodman School of Business has become the first Canadian business school to partner with SolBridge International School of Business in South Korea.Thanks to a formalized partnership with the business school, two undergraduate Goodman students per year can attend SolBridge on a semester-long exchange starting in September 2017.A modern and innovative business school located just over an hour from Seoul in Deojeon, classes at SolBridge are all taught in English and focus on integrating both theory and practice.Like Goodman, SolBridge holds accreditation by the Association to Advance Collegiate Schools of Business International (AACSB) and has a strong international outlook, making it an attractive place for Goodman students to choose as an exchange destination.The School is also the 2016 winner of AACSB’s Innovations That Inspire award for its mentorship plan and programming around using debate to build students’ leadership skills and engagement.This is the latest in a collection of 42 other business schools that the Goodman School of Business partners with, which allows accounting and business students to add international opportunities to their educational experience.Students participating in exchange programs benefit from a world of knowledge, says Barry Wright, Goodman’s Interim Dean.“Adding an international exchange to students’ portfolios will help them move outside of their comfort zones and this extension of their classroom experience is so important in today’s business world,” says Wright.“Our students are increasingly recognizing international exchanges are a great way to differentiate themselves in the job market.”Goodman students interested in going on exchange can apply online for Fall 2017 by Feb. 1, 2017 or for Winter 2018 by June 30, 2017. read more