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President signals priority for domestic economic policy autonomy

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Govt. in ‘Consideration Mode’ over next IMF programme:

By Sanath Nanayakkare

President Anura Kumara Dissanayake revealed that the government remains in “consideration mode” regarding whether Sri Lanka will enter into a follow-up Extended Fund Facility (EFF) programme with the International Monetary Fund (IMF) once the active facility concludes in March 2027.

Participating in an engaging Fireside Chat at the inauguration of the Sri Lanka Economic and Investment Summit 2026, organised by the Ceylon Chamber of Commerce at the Shangri-La Colombo on October 12, the President emphasised that any future engagement with the IMF must afford adequate policy space for his administration to execute its own sovereign economic vision.

The session, moderated by Bingumal Thewarathanthri, Vice Chairperson of the Ceylon Chamber of Commerce and CEO of Standard Chartered Bank Sri Lanka, saw the Head of State outline a comprehensive roadmap spanning macro-fiscal discipline, port infrastructure expansion, energy sector restructuring, fuel pricing dynamics, and technology training.

Addressing a packed hall of top-tier business leaders, diplomats, and international investors, President Dissanayake noted that while the current IMF arrangement has proceeded without impeding the government’s core economic strategy, a prospective post-March program will undergo rigorous evaluation.

“Our foreign reserve levels are satisfactory for paying our way through the world. However, there is global uncertainty amid the current geopolitical situation. No indicators can say when the war will end or what weather-related disasters could happen,” the President remarked, referencing external vulnerabilities such as Middle Eastern tensions and local climate disruptions like Cyclone Ditwah.

He stressed that while macro-fiscal parameters – including progressive revenue targets and debt-ceiling management – remain fundamental to national stability, the government is acutely conscious of the tax burdens and social costs borne by citizens. Therefore, any future framework proposed by the IMF will be examined through the lens of domestic policy autonomy and social protection.

Turning to critical national assets, President Dissanayake announced bold restructuring plans for the Port of Colombo aimed at elevating Sri Lanka’s position as a dominant regional maritime hub.

East Container Terminal (ECT): The government intends to grant management and operating rights of the ECT to a private sector partner while retaining 100% state ownership. Operating under the Sri Lanka Ports Authority (SLPA), the terminal currently handles approximately 500,000 TEUs against a potential capacity of 3.2 million TEUs. Five to six major global shipping lines have already expressed preliminary interest.

West Container Terminal II (WCT II): A funding requirement of approximately $1.4 billion for breakwater infrastructure is being sought from multilateral development institutions. Preliminary design work, assisted by the Asian Development Bank (ADB), is slated for completion by April 2027, adding another 3.2 million TEUs in annual throughput capacity upon full buildout.

Logistics Hub & Custom Clearance: The SLPA will call fresh tenders for a dedicated logistics center within the Port of Colombo following the resolution of land disputes. Additionally, Cabinet approval has been granted for a Public-Private Partnership (PPP) to establish a 150-container examination facility in Kerawalapitiya to streamline Customs clearance.

Addressing energy security and domestic distribution, the President indicated that existing petroleum agreements with private market participants – including Lanka IOC and Sinopec – would undergo formal review involving the Attorney General.

Expressing concern over distribution bottlenecks in outstation areas where private outlets dominate, President Dissanayake called on private players to balance profit margins with social responsibility during times of price volatility. To guarantee uninterrupted national supply, the Ceylon Petroleum Corporation (CPC) plans to add 75 new filling stations across the island.

Furthermore, to enhance maritime competitiveness, the government is considering lowering the 2.5% tax/levy on bunkering services in Budget 2027 and exploring CPC-private partnerships for bunker fuel storage expansion at the JCT Oil Bank.

In renewable energy, the government will open four major grid transmission lines for private-sector participation and transition away from fixed feed-in tariffs set by the Public Utilities Commission of Sri Lanka (PUCSL) toward competitive bidding to drive down generation costs. Floating solar projects, such as the Ibbankatuwa model, will be prioritised to overcome land availability constraints.

In a bid to address structural workforce shortages in high-tech sectors, the President revealed that Sri Lanka will sign an agreement with Singapore next week to establish a specialized training institute on Wijerama Mawatha in Colombo. The center will focus on rapidly expanding local capacity in Information Communications Technology (ICT) and Artificial Intelligence (AI).

He also highlighted plans to restructure public sector remuneration for highly skilled professionals and proposed an outcome-based procurement model for international promotional campaigns, such as global tourism marketing, where agencies are compensated based on verified growth in tourist arrivals.



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USA–Sri Lanka Chamber of Commerce plans New York campaign to promote Tourism and Business

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The initiative will provide Sri Lankan businesses with a vital platform to introduce their products and services to the American market

Timing aligns with national policy discussions

By Sanath Nanayakkare

The USA–Sri Lanka Chamber of Commerce is exploring an innovative promotional initiative to showcase Sri Lanka’s tourism, cultural heritage, and commercial opportunities in the heart of New York City during the upcoming Christmas and holiday season.

The proposed campaign aims to bring Sri Lanka’s unique identity to one of the world’s most internationally recognized cities through a mobile digital billboard featuring high-quality photographs and videos highlighting the island’s natural beauty, rich heritage, and diverse commercial offerings. Designed to capitalize on New York City’s significant holiday-season foot traffic, the initiative will reach American consumers, international tourists, and potential business partners.

The digital showcase will feature pristine beaches, scenic mountains, waterfalls, tea plantations, wildlife, ancient cities, Buddhist heritage, traditional arts, authentic cuisine, and modern attractions, positioning the country as a premier international travel destination. An interactive QR code linking to comprehensive tourism information will also be incorporated, allowing viewers to directly explore travel opportunities.

Beyond destination promotion, the initiative provides Sri Lankan businesses with a vital platform to introduce their products and services to the American market. Enterprises representing Ceylon tea, spices, food products, gems and jewellery, apparel, handicrafts, wellness, hospitality, and tourism will have the opportunity to showcase their brands alongside the broader national campaign.

The Chamber notes that this effort will be particularly beneficial for small and medium-sized enterprises (SMEs) seeking greater international exposure, brand recognition, and commercial partnerships in the United States. By integrating tourism promotion with commercial visibility, the project aims to strengthen Sri Lanka’s international image while supporting trade, investment, and business development.

Operating under the central message of “Discover Sri Lanka. Experience Sri Lanka. Visit Sri Lanka,” the campaign presents the island as a destination defined by natural beauty, cultural richness, distinctive products, and entrepreneurial potential. More information on the initiative is accessible at www.usaslcc.org.

Tourism sector stakeholders have welcomed the move, noting that private-sector-led initiatives of this nature bypass cumbersome bureaucratic procurement procedures and complex tender processes typically associated with state-run promotional campaigns abroad.

The timing aligns with recent national policy discussions regarding tourism promotion. Participating in a Fireside Chat at the inauguration of the Sri Lanka Economic and Investment Summit 2026, organized by the Ceylon Chamber of Commerce, President Anura Kumara Dissanayake emphasized that a proper procurement mechanism needs to be established before acquiring tourism promotional concepts, recommending a performance-based system where agencies are compensated according to verified growth in tourist arrivals.

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Seylan Bank partners Colombo Motor Show 2026 as official banking and leasing partner

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For 10th consecutive year

Seylan Bank PLC, the Bank with a Heart, has reaffirmed its commitment to supporting Sri Lanka’s automotive industry by partnering with the 20th edition of the Colombo Motor Show 2026 as the Official Banking & Leasing Partner for the 10th consecutive year. This makes Seylan Bank the longest-standing partner of the Colombo Motor Show, further reflecting its longstanding association with one of Sri Lanka’s most prominent automotive exhibitions. The four-day exhibition is scheduled to take place from 20th to 23rd November 2026 at the Bandaranaike Memorial International Conference Hall (BMICH), marking the first time the Colombo Motor Show will be held as a four-day event.

As one of Sri Lanka’s leading international motor and motor accessories exhibitions, the Colombo Motor Show will bring together vehicle enthusiasts, prospective buyers, industry professionals and automotive service providers. The 2026 edition is expected to feature over 200 trade stalls covering motor vehicles, accessories, spare parts, lubricants, tyres, batteries, leasing facilities and other motor-related services.

Through its continued partnership, Seylan Bank will showcase a comprehensive range of financial solutions designed to support customers in meeting their personal and business needs, with a particular focus on Seylan Leasing facilities. Visitors to the exhibition will have the opportunity to receive on-the-spot leasing evaluations and expert guidance from Seylan Leasing Specialists, helping them explore vehicle financing options conveniently during the event.

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WCIC sharpens focus on scaling women-owned businesses

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WCIC Office Bearers

The Women’s Chamber of Industry and Commerce (WCIC) is sharpening its focus on helping women entrepreneurs move beyond business creation towards sustainable growth, as it expands its membership, partnerships and advocacy footprint.

WCIC Chairperson Gayani de Alwis, concluding her second tenure, highlighted the Chamber’s efforts had increasingly centered on creating pathways for women to translate entrepreneurial ambition into viable enterprises and, importantly, build those businesses for the longer term.

“Ultimately, our impact is not measured by the number of programmes we conducted, but by the women whose businesses grew, whose voices became stronger, whose horizons expanded and whose contribution to the economy became greater,” she said addressing the WCIC 41st Annual General Meeting (AGM) held on 22 September for which the Chief Guest was Canadian High Commissioner to Sri Lanka and the Maldives Isabelle Martin.

The focus has included a special initiative for female university students with an entrepreneurial mindset, regional chapter initiatives in the Northern Province, capacity-building programmes and the inaugural ‘Beyond Ramp Up’ workshop.

The Chairperson said these initiatives were designed to move women “from aspiration to enterprise, and from enterprise to sustainable growth”, signaling a broader focus on strengthening the progression of women entrepreneurs beyond the initial stages of business formation.

WCIC recorded a 20 percent increase in membership during the period with membership crossing 460 and expanded its ecosystem through a series of strategic partnerships.

Internally, WCIC moved to strengthen its governance framework, revising its Articles of Association to ensure regulatory compliance and introducing a Code of Conduct and Board self-assessment. Clearer organisational roles, job descriptions and performance targets were also introduced as part of efforts to strengthen accountability and professionalise its operations.

Reflecting on her tenure, the Chairperson said the period had been about building a stronger, more connected and professionally governed organisation, while converting its wider ambitions into tangible opportunities for women in business.

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