Business

‘Nation Branding of Sri Lanka on the global stage requires a more collaborative approach’

Published

4 years ago

2022/03/4

by Nuwan Gamage, Vice President of Sri Lanka Institute of Marketingaax

Sri Lanka is currently facing several economic challenges and in order to steer the country out of this difficult situation, it is imperative that Sri Lanka takes bold steps that will make the country ‘future ready’. Among them, Nation Branding is an approach that can pay rich dividends if carried out properly.

Nation Branding is an exercise where a country aims to build, enhance and manage its reputation on the global stage. It presents the country with the opportunity to be better positioned to deal with foreign nations and build stronger relationships which in turn would benefit the nation economically by means of greater investments, more tourism, higher value and demand for its products and services, attract talented, creative workforce and enhance its influence on the world stage.

As a nation, Sri Lanka requires a greater focus on innovation, entrepreneurship, and startups where a culture that can support such initiatives is nurtured. Although these areas are widely spoken of and several initiatives have already been implemented, there is still room for improvement in terms of consistent national policies or platforms that can take them to the next level. The creation of a common platform should also include fostering closer partnerships between Sri Lankan universities, organizations operating across various industries, and research agencies. The ongoing ‘Future Ready Sri Lanka’ which focuses on encouraging entrepreneurship, innovation, skills, and knowledge-based industries and society – all of which are vital components as we embrace this new normal and prepare for economic recovery – is an encouraging sign in terms of a common platform for the betterment of the nation.

Over the years, some developed and developing nations have adopted a collaborative approach to successfully market their countries and increase revenue through multiple streams whether it’s via foreign direct investment, tourism, logistics, manufacturing, or any other industry. Sri Lanka has not been able to follow in their footsteps which has resulted in limited success on this front as a nation. There is no doubt that Sri Lanka is blessed to be centrally located on the world map as a maritime hub with our ports such as Colombo, Hambanthota, and Trincomalee all strategically positioned. Given our strategic maritime location, we are ideally positioned to take advantage of a semi-lockdown assembly operation to transform Sri Lanka into a hub for assembling and re-export. We must encourage global giants to invest in large-scale assembling plants in Sri Lanka where they can utilize our skilled yet cost-effective labour force thereby making the country a hub that can challenge regional players in this space.

Education has always been one of the strong points of Sri Lanka where our literacy rate has been one of the highest in the continent. However, today’s technology-driven world requires more than mere literacy as what is more important these days is digital literacy. Today we learn, live, and work in a world where accessing information and communicating with others is increasingly through digital devices such as laptops, tablets, and smartphones that have access to the Internet, social media platforms, and different types of software. Therefore, increasing digital literacy is of paramount importance to help the country compete against regional rivals. Fortunately, Sri Lanka is witnessing an increase in computer literacy, digital literacy, and Internet penetration with technologies such as 5G also available in the island. Along with this, we also see the mega-development projects such as Port City which will undoubtedly elevate Sri Lanka’s infrastructure and bring the country on par with regional cities such as Singapore and Hong Kong. Together, these attributes will provide the country with the perfect foundation to become a service hotspot and attract global giants to setup operations in the country.

However, to maximise the utilization of our limited funds and resources across all these key areas it is imperative that the relevant organisations in charge of each area collaborate and adopt a Nation Branding approach. This will ensure that as a brand Sri Lanka will have a far greater impact on the global stage which in turn will certainly translate into greater, long-term revenues and a much-needed boost to the country’s struggling economy.

This Nation Branding should take a three-pronged approach – Export Branding, Generic Nation Branding, and Internal Nation Branding. Export Branding will help to create a positive halo effect on products manufactured in Sri Lanka driven by a “Country-of-Origin” effect and resulting in an increased ability to export and greater acknowledgment and acceptance of Sri Lankan products in the global market. Generic Nation Branding will enhance the country’s ability to attract tourists and skilled workers and foreign direct investments. It will provide us the opportunity to reduce incentives for investors, sustain higher prices and also increase cost pressure on competing nations. As a nation, we will be more resilient to current or future global or regional financial meltdowns. Internal Nation Branding is also an important component as it will help us to curb the “brain drain” of losing skilled workers to developed nations while also increasing overall productivity driven by better morale among the workforce of the country.

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Business

Sri Lanka educates women but keeps many out of work, ADB warns

Published

17 hours ago

2026/06/5

Thilina Walpola

Shannon Cowlin - ADB Country Director for Sri Lanka

Sri Lanka has one of the most educated female populations in South Asia, yet only about one in three women participates in the labour force, making female workforce participation among the lowest in the region and leaving a significant source of economic growth untapped.

That paradox took centre stage at a knowledge forum organised by the Asian Development Bank (ADB) in Colombo on June 3, where government officials, labour authorities, academics and private-sector leaders examined the deep-rooted barriers preventing women from fully participating in the economy and explored reforms needed to unlock their economic potential.

Opening the event, ADB Country Director for Sri Lanka Shannon Cowlin said the issue extends beyond gender equality and has become a critical economic challenge for a country seeking sustained growth and inclusive development.

“Empowering women to participate fully in the labour force is not only a matter of equality; it is essential for inclusive economic growth and poverty reduction in Sri Lanka,” she said.

The forum, held under ADB’s Serendipity Knowledge Programme (SKOP), focused on findings from a recent ADB-supported study exploring the factors behind Sri Lanka’s persistently low female labour force participation.

Cowlin noted that despite notable progress in education and human development, Sri Lanka continues to lag behind on measures of gender equality and women’s economic participation. She said multiple studies have shown that the factors shaping women’s labour force participation are layered, interconnected and multidimensional.

According to the study, many women remain concentrated in informal, low-paid and insecure employment with limited access to social protection and few opportunities for career advancement. Social and cultural expectations continue to place primary caregiving responsibilities on women, often restricting their ability to pursue careers or remain in full-time employment.

The lack of affordable childcare services, unequal access to digital skills and technology, concerns over workplace safety, sexual harassment and inadequate transport options were identified as major obstacles preventing women from entering or remaining in the workforce.

“These are complex challenges that require action from all stakeholders – government, development partners, the private sector, civil society and academia,” Cowlin said.

She stressed that improving women’s labour force participation would require more than isolated policy interventions, calling instead for structural transformation, stronger infrastructure and care services, progressive workplace practices and broader societal changes that improve women’s mobility, safety and economic agency.

The event featured a presentation by Professor Dileni Gunawardena of the University of Peradeniya, who shared findings from ADB’s study on female labour force participation, followed by a panel discussion involving representatives from the International Labour Organisation, the Department of Labour, MAS Holdings and John Keells Holdings.

Panelists discussed measures to improve the enabling environment for women, including greater investment in the care economy, expanded childcare facilities, enhanced skills development, creating safe, supportive workplaces and career pathways for upward mobility.

Participants agreed that increasing women’s participation in the workforce is not merely ‘a nice to have’ but an economic necessity, particularly as Sri Lanka seeks to accelerate recovery, boost productivity and achieve more inclusive growth.

The ADB said Sri Lanka’s economic recovery presents a unique opportunity to address long-standing structural barriers facing women and to build a more inclusive labour market that fully utilises the country’s human capital.

By Sanath Nanayakkare

Business

ComBank offers exclusive financial solutions to the ‘Guardians of the Skies’

Published

18 hours ago

2026/06/5

Thilina Walpola

Hasrath Munasinghe, Chief Operating Officer of Commercial Bank and Air Vice Marshal Rajinth Jayawardena, Director General Welfare of the SLAF exchange the agreement in the presence of representatives of the two organisations.

Reinforcing its commitment to those who serve the nation, the Commercial Bank of Ceylon has entered into a Memorandum of Understanding with the Sri Lanka Air Force (SLAF) to introduce a comprehensive suite of concessionary financial facilities for its officers and other ranks.

The partnership, unveiled in a year that marks the 75th anniversary of the Air Force, which was founded in March 1951 as the Royal Ceylon Air Force, reflects a shared recognition of the critical role played by the SLAF as the steadfast ‘Guardians of the skies,’ entrusted with safeguarding the country’s security and sovereignty.

Under the terms of the agreement, Commercial Bank will extend a range of specially tailored financial products to SLAF personnel, including personal loans, leasing facilities, housing loans and credit cards. These facilities will be offered at concessionary interest rates, alongside concessions on documentation charges, enabling Air Force personnel to access financial support on more favourable terms.

The Bank said the initiative is part of its continuing efforts to deliver best-in-class lending solutions that are both accessible and responsive to the diverse needs of its customers. By offering attractive and affordable repayment structures, the scheme is designed to empower SLAF officers and other ranks to meet their personal financial requirements with greater ease and flexibility.

A key feature of the programme is the ability for beneficiaries to align repayments with their income patterns, ensuring that the facilities remain practical and sustainable over the long term. This flexibility, combined with preferential pricing, is expected to make a meaningful difference to the financial wellbeing of Air Force personnel and their families.

Business

Treasury Bill rate hike compounds stock market volatility

Published

18 hours ago

2026/06/5

Thilina Walpola

The CSE was extremely volatile yesterday mainly due to external and internal negative factors.

‘The escalation of the war situation in West Asia and the proposed tariff hike on Sri Lanka’s exports to the US by the Trump administration are worsening Sri Lanka’s economic woes. Further, the government’s decision to increase the Treasury Bill rate has also created some uncertainty in the market, stock analysts said.

The All Share Price Index was up by 249.83 points, while the S and P SL20 rose by 67.61 points. Turnover stood at Rs 2.79 billion with 11 crossings.

Companies that mainly contributed to the turnover by way of crossings were: Chevron Lubricants 1.5 million shares crossed to the tune of Rs 294 million and its shares traded at Rs 196, TJ Lanka 2.9 million shares crossed for Rs 90.8 million; its shares traded at Rs 31, Citizens Development Business Finance 2.5 million shares crossed to the tune of Rs 80.2 million; its shares traded at Rs 32.50.

ACL Cables 634,248 shares crossed for Rs 60.9 million; its shares traded at Rs 96, CCS 438,000 shares crossed to the tune of Rs 57.4 million; its shares traded at Rs 131, Overseas Realties 991,500 shares crossed for Rs 49.6 million; its shares traded at Rs 50 and Access Engineering 653,000 shares crossed to the tune of Rs 49.3 million; its shares sold at Rs 75.50.

In the retail market companies that mainly contributed to the turnover were; Dialog Rs 133 million (3.2 million shares traded), Seylan Bank (Non-Voting) Rs 110 million (1.7 million shares traded), Colombo Dockyard Rs 96.8 million (751,548 shares traded), Ceylinco Holdings (Non-Voting) Rs 77.5 million (516,000 shares traded), Sampath Bank Rs 74.2 million (530,000 shares traded), JKH Rs 74 million (3.7 million shares traded) and LMF Rs 65 million (781,000 shares traded). During the day 123 million share volumes changed hands in 26272 transactions.

It is said that the manufacturing sector, especially Chevron Lubricants and several other firms performed well, while the banking and financial sector performed too.

Yesterday the rupee was quoted flat at Rs 334.50/335.50 to the US dollar in the spot market on, unchanged from the previous day’s close, dealers said, while bond yields were broadly steady.

The telegraphic transfer rate for Sri Lanka’s rupee against the US dollar was Rs 330.50 buying, Rs 339.50 selling; euro was Rs 381.1884 selling, Rs 395.1054 buying; and the pound Rs 442.6620 buying Rs 456.7076 selling.

A bond maturing on 01.08.2030 was quoted at 12.12/20 percent, down from 12.15.25 percent.

A bond maturing on 15.06.2034 was quoted at 13.12/20 percent, down from 13.15/25 percent.

A bond maturing on 15.03.2035 was quoted flat at 13.15/25 percent.

By Hiran H Senewiratne