Business

Igniting global talent: Port City Colombo’s role in Sri Lanka’s next growth chapter

Published

2 days ago

2026/07/23

By Sal Laher

Every new market decision eventually becomes a test of confidence: can the country supply the talent, can the work scale, and can the rules hold long enough to matter. That is the lens through which we have looked at Sri Lanka, and across IFS and now IGT I, the answer to each of those questions has been the same.

For more than three decades, Sri Lanka has built a serious technology services industry with real depth, real clients and real global relevance. The Export Development Board identifies ICT services as the country’s second-largest export earner, supported by more than 500 companies and a workforce of around 146,000 people.

In 2025, ICT and BPM export earnings reached US$1.64 billion, overtaking tea as an export earner for the first time. That is worth pausing on. A knowledge industry has surpassed the country’s most iconic export, and it did so the hard way, with firms setting up where they could, growing as they could manage, and scaling within the limits of the space and infrastructure available in Colombo. If that was possible in a fragmented, piecemeal environment, the more useful question is what becomes possible when the physical, legal and financial architecture is built deliberately to support that kind of ambition. That is what Port City Colombo is for.

Most people in the industry will tell you the real figure runs higher still, because a great deal of the work is invoiced through offshore entities and never fully recorded here, and that tells you something important: the capability is world class and globally competitive, and what has been missing is an operating environment built to keep more of that value inside the country.

As someone with real skin in the game, I can say with confidence that Port City Colombo is that environment. IGT I moved early in March 2024 into the zone, and we had our first client shortly after. Since then we have grown to just over 500 people, with new clients and open offers that take us beyond our initial growth, serving international clients across the Americas, Europe, and Middle East, and we expect to pass our budgeted target for the year. I have opened operations in many countries over my career, and I have rarely seen one move at this speed.

The story did not begin from zero. It came from what we had already seen building IFS in Sri Lanka, where we experienced first-hand the quality of the talent here and the role this country could play inside a high-growth international technology company. The investors behind IFS then asked whether the same model could work for other companies in their portfolio. It was that question, on top of the experience we had built in Sri Lanka, that sparked IGT I: Ignite Global Talent. We understood that the capability already existed. It just needed the right commercial, flexible, and independent structure around it.

Port City Colombo is foundational to this in ways that are sometimes underestimated. Operating in a designated foreign currency environment removes layers of friction that global service businesses feel immediately, because payroll, client invoicing and procurement all become easier to manage when the currency framework is consistent. For a company serving global clients, that matters in ways that go beyond accounting tidiness, reducing hedging pressures and the small inefficiencies that accumulate across a business operating in two currencies at once.

The zone also empowers companies to think differently about talent. Where a role requires international expertise, the framework allows that conversation to happen more practically. At the same time, the pull for Sri Lankan professionals is real. Much of our hiring has come from professionals choosing to build their careers here, drawn by the scale of the work, direct exposure to international clients, and the chance to be part of something built from the ground up. That kind of pull is not something a financial model captures easily, but it is one of the strongest signals a new business district can send, particularly when it draws back talent that might otherwise have built its career overseas.

There is a wider point here. For years the best people have left for opportunities abroad, taking their skills and their earnings with them. Port City Colombo offers a way to keep more of that talent at home, in work that meets global standards and increasingly pays at a level that reflects it, with the contribution staying inside Sri Lanka’s economy.

None of this is guaranteed to continue on its own. The confidence that has brought companies like ours into the zone, and the talent that has followed, now needs protecting, and what it mostly comes down to is predictability. An investor can work with rules that are demanding and rules that are clear. What no one can plan around is a rule that keeps moving, and the sharpest example right now is how employees are taxed. The treatment of employee tax in the zone changed under the 2026 amendment to the Colombo Port City Economic Commission Act, moving from an open-ended exemption to a transitional period for existing entities and standard rates for new entrants. Whatever the merits of that specific change, the cost of leaving the position unsettled is higher than the cost of any particular rate, because uncertainty over employment costs is what stops an investor committing.

The same need for predictability runs through the everyday machinery of operating here. Port City Colombo is a world-class development still partly tethered to paper, physical signatures and processes that move more slowly than a global business expects, and that is not about any one institution but about the systems of the zone and the systems of the wider country learning to work together. A business environment built to attract international companies cannot ask them to run on manual processes where digital workflows should exist. Singapore launched TradeNet in 1989 and cut trade document turnaround from days to minutes. Dubai made its government fully paperless by 2021. That is the distance Sri Lanka still has to cover, and it is well within reach. I still spend a good part of my week on wet signatures, company seals and manual form entry, and closing that gap has to start somewhere. Digital signatures within Port City Colombo would be a logical first step.

I want to be fair about where things stand. The Cabinet approval of 77 Businesses of Strategic Importance in April 2026 is a meaningful public signal that the zone is moving from promise to activation. The foundations are real and the direction is right.

Which is why the question itself has changed. For years the doubt was whether a zone like this could work in Sri Lanka at all, and from where I sit, that question has begun to answer itself. The more important question now is how quickly the country makes it easy for the next ten companies to reach the same conclusion I have, and to find what we found when we looked properly: that the talent was always here, waiting for somewhere worthy of it, with the innovation, speed and digital ambition, including AI, to match, and that combination will set Port City Colombo apart in the years to come.

The author, Sal Laher, is Group CDIO and EVP at IFS, and Managing Director of IGT I Outsourcing Lanka.

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Business

Sri Lanka secures 10% US tariff rate: JAAF thanks the President and government for decisive action

Published

12 hours ago

2026/07/25

Thilina Walpola

Today’s announcement by USTR of the finality of the Section 301 investigations into countries’ ability to impose and effectively enforce a prohibition on the importation of goods produced with forced labour sees 18 countries placed on a 10% tariff, with the balance of 42 countries facing a 12.5% tariff.

Initial indications were that Sri Lanka would fall into the 12.5% category, a position that would have placed the country at a real disadvantage against a number of key competitor nations.

Following Sri Lanka’s submissions to the USTR earlier this month, JAAF is pleased to see that Sri Lanka is now among the countries placed on the 10% tariff rate, on par with competitors including Bangladesh, Pakistan, India, and Cambodia.

Sri Lanka’s apparel industry competes in a crowded field, and even a 2.5 percentage point difference in tariff treatment can be the difference between winning and losing an order to a rival sourcing destination. Securing parity with Bangladesh, Pakistan, India, and Cambodia protects the competitiveness of an industry that remains the country’s largest export earner and a major source of employment, particularly for women, across the country.

JAAF recognises that this result did not happen by chance. It reflects sustained, coordinated engagement between industry and government at every level, from the submissions made to USTR to the direct representations carried out in Washington. We view this as a strong example of what can be achieved when the private sector and government work in close partnership on issues that directly affect Sri Lanka’s export competitiveness.

We remain committed to continuing this collaboration, both to safeguard the gains secured on Thursday and to ensure Sri Lanka’s apparel and textile industry is well positioned to compete on a level playing field internationally.

Business

CAHM students shine at National Bartenders Competition and Dainties 2026

Published

12 hours ago

2026/07/25

Thilina Walpola

Students of the Colombo Academy of Hospitality Management (CAHM) at SLIIT once again demonstrated their talent, creativity, and professional excellence by securing outstanding achievements at two prestigious national hospitality competitions held recently in Sri Lanka.

The Colombo Academy of Hospitality Management (CAHM) is Sri Lanka’s leading private hospitality education institute, established in 2013 and located at the SLIIT Main Campus in Malabe. Renowned for delivering internationally recognised qualifications in partnership with the William Angliss Institute (RTO 3045), Australia—the Australian Government’s specialist hospitality education institute and the country’s leading provider of hospitality, tourism, foods and events education—CAHM offers Australian-standard vocational qualifications that combine international best practices with hands-on practical training and strong industry relevance, enabling graduates to pursue rewarding careers around the world.

At the 31st National Bartenders Competition (NBC), organized by the Sri Lanka Hospitality Graduates Association (SLHGA) in partnership with International Distillers Limited (IDL), CAHM student Anurasi Chandrasoma (Commercial Cookery Batch 22) emerged as the Winner in the highly competitive Hotel School Category. The competition, held on 26 May 2026 at the Sri Lanka Institute of Tourism and Hospitality Management (SLITHM), Colombo, attracted more than 75 participants from hospitality education institutions across the country.

Representing CAHM alongside the winner were Dishala Gunawardhana (Hospitality Management Batch 37), Sunera Sathindu (Commercial Cookery Batch 21), and Devindu Amarasekara (Patisserie Batch 11), all of whom showcased exceptional bartending skills and professionalism. The achievement marks another significant milestone for CAHM, reinforcing its reputation as one of Sri Lanka’s leading hospitality education institutions.

Business

Asia-Pacific business leaders to convene in Sri Lanka for UN Global Compact’s flagship regional event

Published

12 hours ago

2026/07/25

Thilina Walpola

Asia-Pacific stands at the forefront of one of the defining transitions of our time. Home to many of the world’s fastest-growing economies, the region is also confronting some of the world’s most pressing sustainability challenges—from climate change and biodiversity loss to widening inequalities, geopolitical uncertainty and rapid technological transformation. As these challenges reshape the global business landscape, businesses are increasingly being called upon not only to respond, but to lead.

Against this backdrop, Sri Lanka will host Forward Faster Now | APAC 2026: Driving Business Leadership for Sustainable and Inclusive Growth, the United Nations Global Compact’s flagship regional event for Asia-Pacific. Bringing together more than 200 business leaders, sustainability practitioners, policymakers, representatives from the United Nations and UN Global Compact Country Networks from across the region, the two-day event will provide a platform to strengthen partnerships, exchange practical solutions and mobilize business leadership in support of the Ten Principles of the United Nations Global Compact and the Sustainable Development Goals (SDGs).

Led by the UN Global Compact Asia-Pacific Regional Hub and hosted in collaboration with UN Global Compact Network Sri Lanka, the regional event reflects a shared commitment to advancing responsible business and strengthening regional collaboration at a time when sustainable development depends on collective leadership and cross-sector cooperation.

The event will welcome Sanda Ojiambo, Assistant Secretary-General, CEO & Executive Director of the United Nations Global Compact, whose presence spotlights the strategic importance of the Asia-Pacific region within the United Nations Global Compact. Her first official visit to Sri Lanka signals the growing role of the region in driving responsible business and sustainable development, while offering participating companies a unique opportunity to engage with global leadership, showcase their sustainability journeys, and help shape the next chapter of collective action towards the Sustainable Development Goals.

Alongside Sanda Ojiambo, the Forum will also convene more than 60 global and regional leaders from business, the United Nations and civil society, including Dilhan C. Fernando, Chairman of Dilmah Ceylon Tea Company and Chairman of UN Global Compact Network Sri Lanka, and Sandra Wu, ESG Executive Adviser at Mirait One Corporation, fostering dialogue and collaboration to accelerate business leadership for sustainable and inclusive growth across Asia-Pacific.

Forward Faster Now | APAC 2026 also marks an important milestone in advancing the United Nations Global Compact’s 2026–2030 Strategy, which places renewed emphasis on equipping businesses with the knowledge, tools and partnerships needed to accelerate sustainable business transformation, catalyzing collaboration to address shared global challenges, and advancing responsible business leadership as a cornerstone of sustainable development. As one of the first flagship regional events aligned with this strategic direction, the event will help translate global ambition into regional action by connecting leaders, sharing practical experience and fostering the partnerships needed to create lasting impact.

Register Your Interest

Forward Faster Now | APAC 2026 will take place in Colombo, Sri Lanka, on 11–12 August 2026.

To register your interest or learn more about the event, please contact:

Chamath Kalupahana

Country Focal Point – Forward Faster Now | APAC 2026

Manager – Participant Engagement & Strategic Planning

UN Global Compact Network Sri Lanka

Email: chamath@unglobalcompact.org.lk