SEPTEMBERASIA BUSINESS OUTLOOK9NEWSROOMAUSTRALIA FINALIZES PROJECT TO TRANSPORT POWER TO SINGAPORE VIA UNDERSEA CABLESri Lanka's Cabinet has approved a new initiative to issue free tourist visas to visitors from 35 countries, including major markets such as China, India, and Russia. This six-month pilot program, which begins on October 1, will provide tourists with 30-day visas at no cost, aiming to boost tourism and aid in the country's economic recovery.Cabinet spokesman and Transport Minister Bandula Gunawardana highlighted the government's ambition to establish Sri Lanka as a "free visa country," similar to destinations like Singapore, Thailand, and Vietnam. The initiative targets a rapidly growing tourism sector as a key driver for economic revitalization.The 35 countries on the visa-free list include key tourist markets such as the United Kingdom, Germany, Australia, Saudi Arabia, Japan, France, and others.After being severely impacted by the COVID-19 pandemic and a subsequent economic crisis in 2022, Sri Lanka's tourism sector is rebounding, with nearly 2 million arrivals as of mid-August 2024. The country is on track to achieve 2.3 million arrivals by the end of the year, signaling a significant recovery in tourism. Australia has approved a significant solar energy project worth A$20 billion (US$13.5 billion) aimed at transporting power from a vast solar farm in the country's north to Singapore via a 4,300km undersea cable. Announced on August 21, this initiative is led by SunCable and represents a major step in meeting both domestic and international renewable energy demands.Environment Minister Tanya Plibersek highlighted that the solar farm, once operational, will be the largest of its kind globally, capable of powering three million homes. It will feature extensive solar panels and batteries and include the infrastructure for the long-distance cable connecting Australia with Singapore. "It will be the largest solar precinct in the world and heralds Australia as the world leader in green energy," Plibersek stated.The project is set to undergo a final investment decision by 2027, with electricity delivery anticipated to start in the early 2030s. SunCable plans to develop the project in two phases, aiming to provide up to 6 gigawatts of green electricity to both industrial customers in Darwin, the capital of Australia's Northern Territory, and in Singapore. This approval aligns with the Australian government's increased focus on renewable energy projects, despite opposition proposals to build nuclear plants as a replacement for coal-fired power by 2050. Currently, nuclear power is banned in Australia. SRI LANKA GREEN LIGHTS FREE TOURIST VISAS FOR 35 NATIONS
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