President Anura Kumara Disanayake stated that the government is committed to providing the necessary support to secure a share for Sri Lankan entrepreneurs in the global market.

He highlighted that the government has a strong strategic plan to facilitate access to international markets by integrating diplomats and entrepreneurs into a unified process.

The President made these remarks while attending the 26th Anniversary of the Chamber of Young Lankan Entrepreneurs (COYLE), held on Monday (10) at the Shangri-La Hotel in Colombo.

President Disanayake further stated that this year’s budget has been designed to create a more dynamic and flexible economy, replacing the stagnant economic conditions of the past.

He noted that allowing greater economic mobility would enable the country to achieve a certain level of development. Accordingly, the budget has been structured in a way that does not cause major economic shocks.

The President also emphasized that the current government remains sensitive to economic decision-making, ensuring that policies do not place an unbearable burden on the Sri Lankan Rupee. He acknowledged that certain decisions had to be made in alignment with recommendations from the International Monetary Fund (IMF).

President Anura Kumara Disanayake revealed that the current government has taken the necessary and correct decisions to restore confidence in an economy where trust had previously collapsed. As a result, the country, which was officially declared bankrupt, has now been able to overcome its state of bankruptcy.

The President further emphasized that his government ensures every rupee spent is treated as a public trust and utilized with the highest level of responsibility.

Due to the government’s economic policies, efforts have been made to restart 11 economically significant projects that were previously halted by the Japanese government, as well as 76 projects that had been suspended by the Chinese government.

The current government has already taken significant steps to provide economic stability, creating a more secure environment for investors. As a result, the government has been able to facilitate large-scale investments in renewable energy, including the construction of a 50-megawatt wind power plant in Mannar.

The President also highlighted that a business-friendly environment has been established where investors can operate without having to pay any commissions.

Furthermore, he stated that the government is prepared to empower young entrepreneurs, not only within Sri Lanka but also by providing them with the strength to expand into international markets.

“We have built the strongest and most politically stable administration in Sri Lanka,” President Disanayake stated. He pointed out that, in past parliaments, it was common for MPs representing the opposition to later join the government and vice versa. However, he emphasized that such a situation does not exist in the current parliament, where there is a clear distinction between the government and the opposition. He described this as a strong example of political stability.

President Disanayake also remarked that a model political system has now been established in Sri Lanka. He assured that, by the end of the current administration’s tenure, there would be no room for a destructive political climate to re-emerge.

The event was attended by government ministers, state officials, diplomats and a group of young entrepreneurs.

By Hiran H Senewiratne

New Zealand has expressed interest in promoting local export crops production by acquiring and managing efficiently large extents of land in Sri Lanka, which at present are not productive.

“A scheme to establish dairy farms in the North and East, which New Zealand helped to draw-up a few years back but was subsequently abandoned, serves to highlight the need to resume such programs, High Commissioner of New Zealand to Sri Lanka, David Pine, said at a Pathfinder Foundation forum comprising industry experts and representatives of local media institutions held at the Colombo Club, Taj Samudra last Thursday.

High Commissioner Pine said there is already cooperation in the dairy and agricultural sectors. New Zealand is willing to provide further assistance regarding food safety and phytosanitary (health of plants) standards.

New Zealand further aims to help Sri Lanka in knowledge- sharing and technology transfer in capacity building, climate resilience and increasing support in the education sector by establishing educational institutions, besides facilitating student exchange programs.

At present the bilateral trade balance is in favour of New Zealand, that is, Sri Lanka imports more than US $ 252 million while Sri Lanka exports only US $ 41 million to New Zealand.

HC Pine said that both countries should have close economic relations to harness the true growth potential of both countries.

The HC reiterated that an increased population of South Asian heritage immigrants living in New Zealand and existing dynamics in the geopolitical space had stimulated interest in the region.

HC Pine added: “The response to the imbalance in bilateral trade is to focus on the overall trade balance, as the bilateral trade balance becomes irrelevant in the context of global value chains.

“In addition to tourism and trade, governance, parliamentary exchanges and social relationships are also important in the bilateral context.

“The importance of the visit of the ‘Women in Peace’ delegation needs stressing, as is the need to focus on increasing opportunities for Track II dialogue.

“In terms of future prospects in promoting Sri Lanka as a tourist destination among New Zealanders, the aim is to engage and mobilize the diaspora, improve connectivity and extend support for niche areas, including sports, as a connector of two sport-loving nations.

“New Zealand is resolute in paying close attention to the South Asian region and Sri Lanka, in particular, on the 70th anniversary of the establishment of diplomatic relations between the two countries.”

The Pathfinder Foundation has previously hosted similar roundtable discussions with the Heads of Mission of France, Australia and the UK. At the event diplomat and chairman of the Pathfinder Foundation Bernard Gunathilake presided.

The effective implementation of the National Budget has been a key concern for many years. To enhance the feasibility of budget proposals and extend the discussion beyond just the month following a budget speech, the Ceylon Chamber is launching a seminar series titled Implementing the National Budget 2025. This initiative aims to drive actionable insights and ensure a more structured approach to execution. The first in this seminar series will be held from 9.00 am – 11.00 a.m. on 11th March at the Ceylon Chamber Auditorium.

This session will focus on tax-related policy shifts, including the removal of the Simplified Value Added Tax system, introduction of the Digital Services Tax, and other significant amendments to the VAT (Amendment) Bill and the Inland Revenue Department (Amendment) Bill.

The Keynote Speaker at the event will be Charmaine Tillekeratne – Head of Tax, Deloitte Sri Lanka and Maldives. An expert panel comprising of Thanuja Perera – Tax Policy Advisor, Ministry of Finance and S. Iyesha Asanthi –Commissioner, Tax Policy and Legislations Unit of the IRD will represent the policymakers while Yohan Lawrence, Secretary General – JAAF, and Chairman, EASL, and Ganesh Deivanayagam – Chairman, Easwaran Brothers Export Ltd., and Immediate Past President of TEA will present the views of the private sector, their implications for businesses, and strategies for compliance and adaptation.

Register for the seminar at https://event.chamber.lk/event-register/356. For more information email events@chamber.lk or call Shashini on 011 55 88892.