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AmCham Sri Lanka highlights Sri Lanka’s ‘People, Passion & Professionalism’ at the SLIF 2021

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The Sri Lanka Investment Forum 2021 (SLIF 2021) was organised by the Board of Investment, the Ceylon Chamber of Commerce and the Colombo Stock Exchange of Sri Lanka. The aim of this forum was to facilitate trade and investment between foreign investors, Foreign Direct Investment (FDI) project promoters and listed corporates. The 3-day virtual event from the 7th – 9th June 2021 featured sessions and presentations by senior government leaders, top leadership of public and private companies, global experts, investment bankers, and advisory firms and was concluded with registration of close to 5000 participants.

At the Inauguration, President Gotabaya Rajapaksa, expressed his vision for a decade of growth culminating in the doubling of the economy, and the pivotal role local and foreign investors would play in the rapid transformation of the economy. He invited investors to seize the window of opportunity to benefit from Sri Lanka’s strategic location as the gateway to South Asia, high quality human resources, unique tourism potential and progressive policy environment among other factors.

Chairman of the Board of Investment, Sanjaya Mohottala highlighted the unique advantages of trade and investment in and with Sri Lanka, including its strategic geo-location with a proximity market of close to 3 billion consumers in South Asia and East Africa, as well as being a skills powerhouse, with the best living environment in South Asia. Mohottala presented a detailed overview of the investment climate in Sri Lanka and in concluding his presentation noted, “Growth is enabled by low cost of doing business … The 2021 budget gives certainty for investors beyond attractive tax holidays that have been provided to equalize or better incentives that are offered by competing countries … Sri Lanka offers one of the lowest productivity adjusted labor costs across all segments, the labour force is far more loyal compared to competing destinations and salary inflation is one of the lowest in the region. For investors, BOI provides tax free capital good importation, reducing startup costs and more importantly, the lowest power cost in the region. All of this, combined with location advantages provide a compelling investor value proposition in Sri Lanka”

USA Country Session:

The country session dedicated for the United States of America (USA) on the 9th June 2021 was graced by the Sri Lanka’s Ambassador to the USA Ravinatha Aryasinha, while Chargé d’ Affaires of the US Embassy in Colombo Martin Kelly delivered the keynote address. Delivering the Opening remarks for the session, Ambassador Aryasinha noted that “the US is presently the 10th largest investor in Sri Lanka … The US being Sri Lanka’s largest export destination accounting for 26% of exports worth 2.5 Billion US dollars in 2020, there is always the potential for greater US investment” Further, the Ambassador referred to the recent ‘Trade Shifts’ Sectoral Study released by the American Chamber of Commerce in Sri Lanka (AmCham SL), where he observed that “Sri Lanka stands to benefit from an estimated US Dollars 150 billion worth of business estimated to be shifting over the next five years” and that the Sri Lankan Embassy in the USA continues to pro-actively engage and encourage those who have the potential to invest in Sri Lanka.

In his Keynote address, Chargé d’ Affaires of the US Embassy in Colombo Martin Kelly noted that “The U.S. Government has long been supportive of Sri Lanka’s efforts to broaden and modernize its economy … promoting trade and investment opportunities is one of our Embassy’s top priorities. It’s a vital component of our efforts to encourage private sector-led development and to forge stronger ties between our people.” Speaking more in detail the CDA noted that “The Sri Lankan people, its democracy and business community, have proven their resilience, time and again … accruing the highest standard of living and most advanced development indicators in South Asia … [and] has also steadily upgraded its air, sea, and telecom infrastructure to position itself as a regional base of operations for technology and manufacturing – with an eye to attracting investment”. He concluded that despite those positive indicators FDI from the USA has remained mostly flat over the past five years due to concerns about transparency and the regulatory framework “I’m confident that, … concrete efforts will begin to improve ‘ease of doing business’ and ensure a level playing field for U.S. investors”.

 

AmCham SL Presentation on Investment Climate in Sri Lanka

Presenting an overview of the investment climate in Sri Lanka specific to US investors, General Manager and Head of Secretariat of the American Chamber of Commerce in Sri Lanka Ms. Vrai Raymond, highlighted the emerging opportunities for investment in Sri Lanka, the progressive commitment of the GoSL, and the passion and professionalism of Sri Lanka’s people. She drew attention to Sri Lanka’s status accruing the highest standard of living and most advanced development indicators in South Asia in 2019 and 2021, and the country’s continued transition from an agricultural commodity-based economy to become a world leader in textiles and apparel, a major exporter of IT and communication-related products and services, and a world class destination for international tourists.

As key takeaways of the presentation, she provided overviews of the investment climate, tax incentives, talent and education, ease of doing business, market access, quality of life and infrastructure, location advantage, and competitiveness and productivity.

Deriving key economic data on Sri Lanka and USA business relations, Ms. Raymond noted that the USA is the largest single-country export market for Sri Lanka with a tax treaty in place since 1985 and a bilateral investment treaty since 1991. She also highlighted that “to support US investors in Sri Lanka, the American Embassy, the AmCham Sri Lanka and the Board of Investment provide commercial information for interested investors and advocacy for US companies with projects or proposals to help companies enter specific sectors, and to identify potential Sri Lankan partners, while US investors can also access several US Government options to help develop and finance large scale infrastructure projects, such as the Trade Development Agency (USTDA) and the Development Finance Corporation (DFC), among others.”

She concluded by noting to potential investors, “if you are seeking talented, qualified, competent, creative, passionate people who will continuously evolve, adapt and innovate to nurture and grow your business, your brand and your investment, then this is it”.



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SLT MOBITEL and Fintelex empower farmers with the launch of Yaya Agro App

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From left to right – Supipi Nawarathne, Head, Department of Food Technology, UCIARS, Dr. Nisansala Widanapathirana, Head, Department of Agro Technology, UCIARS, Professor Champathi Gunathilake, Director, UCIARS, Dr. Nath Dharmasena, CEO, Fintelex Pvt Ltd, Sudharshana Geeganage, COO, Mobitel, Professor Indika Mahesh Karunathilaka, Vice Chancellor, University of Colombo, Pradeep Arunasiri, Consultant Agronomist – Digital Inclusion, Fintelex Pvt Ltd, and Madura Hewage, Senior Manager – VAS, Mobitel, at the launch of Yaya Agro.

SLT‑MOBITEL Mobile, in collaboration with Fintelex (Pvt) Ltd, has launched ‘Yaya Agro’, an exclusive all‑in‑one smart agriculture app designed to empower Sri Lankan farmers with the tools they need to grow smarter, safer, and more sustainably.

Yaya Agro represents a new era of digital farming in Sri Lanka combining technology, expert knowledge, and community empowerment to provide farmers the confidence to make smarter decisions, improve productivity, and build a sustainable future.

Developed with support from GIZ and Hatch and validated by leading academic and professional institutions including the University of Colombo, Institute for Agrotechnology and Rural Sciences, and the Sri Lanka Red Cross Society, Yaya Agro combines agricultural expertise, real‑time weather updates, first aid support, and AI‑powered assistance into a single, easy‑to‑use platform.

The launch of Yaya Agro positions SLT‑MOBITEL as an innovative, inclusive, and collaborative technology leader. Partnering technology and academic institutions, the company extends its role outside the sector into agriculture, empowering farmers with AI‑driven tools, multilingual access, and market connectivity. The initiative also strengthens SLT‑MOBITEL’s image as a champion of digital empowerment and sustainable development in Sri Lanka.

Functioning as a comprehensive digital companion, Yaya Agro is positioned as a digital farming companion, bringing precision agriculture, real‑time support, and market access to the fingertips of every Sri Lankan farmer.

Whether managing a small home garden or a large commercial farm, the app equips farmers with vital insights to improve crop yield, reduce risks, and connect directly with buyers through the integrated online marketplace.

Yaya Agro offers farmers daily crop information with expert tips on management, pest control, and best practices, all validated by the University of Colombo. It provides accurate, location‑based weather forecasts to help plan farming activities more effectively. The app also delivers life‑saving first aid tutorials and safety information verified by the Sri Lanka Red Cross Society, ensuring farmers are prepared for emergencies. With the AI chatbot assistant, farmers can access instant, personalized advice around the clock, with smart notifications delivering timely alerts and reminders tailored to crop cycles.

To make learning inclusive and accessible, Yaya Agro is available in Sinhala, Tamil, and English, offering interactive educational content such as videos, voice guides, and infographics. The app also integrates an online marketplace, developed in partnership with GIZ and Hatch, enabling farmers to connect directly with buyers and expand their reach. (SLT‑MOBITEL )

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Kegalle sets up District Planning Committee to rein-in development spending under IMF-backed reforms

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Dr. Patabendi addressing officials.

As Sri Lanka presses ahead with IMF-backed fiscal and governance reforms, the Kegalle District Planning Committee (DPC) was formally established yesterday as a standing sub-committee of the District Coordinating Committee (DCC), in a move aimed at tightening control over public investment, reducing duplication and strengthening monitoring at district level.

The committee was constituted under Home Affairs Circular No. 03/2025 issued by the Ministry of Public Administration, Provincial Councils and Local Government, and was inaugurated at the Kegalle District Secretariat auditorium under the leadership of Environment Minister and DCC Co-Chair Dr. Dhammika Patabendi and District Secretary H.M.J.M. Herath.

Addressing officials, Dr. Patabendi said the new structure directly responds to long-standing weaknesses in public investment management that have come under scrutiny during Sri Lanka’s engagement with the International Monetary Fund.

“Under the IMF programme, we cannot afford fragmented planning, overlapping projects or weak monitoring. This committee is about discipline—ensuring that limited public funds are allocated according to national priorities and deliver measurable outcomes,” Dr. Patabendi said.

He stressed that district-level planning must now align with national fiscal consolidation goals, with a stronger emphasis on value-for-money, results-based implementation and accountability.

The District Planning Committee will function as a permanent sub-committee of the DCC, chaired by the district’s Cabinet Minister, with the District Secretary serving as Secretary and the Director of Planning as Convener. Members include officials from district-level price and food committees and heads of government institutions or their nominees.

A central mandate of the committee is the preparation of an Annual Integrated District Development Plan, covering all funding sources—including foreign-funded and donor-supported projects—for approval by the District Coordinating Committee.

Officials said this would help rationalise project selection, prioritise urgent district needs and prevent the duplication of monitoring and evaluation systems, a key concern raised in public investment reviews under the IMF programme.

Dr. Patabendi noted that better coordination of state, private and non-state sector investments at district level would also support macro-level reform objectives by improving spending efficiency without increasing fiscal pressure.

“Fiscal adjustment does not mean stopping development. It means doing development better—through planning, coordination and proper evaluation,” he said.

The committee will oversee the operational rollout of DCC-approved projects, provide advisory support to implementing agencies, and monitor whether projects are delivered within approved timeframes and achieve stated targets.

Progress reports will be submitted to the Presidential Secretariat, Ministry of Public Administration, Ministry of Finance and the District Coordinating Committee, strengthening upward accountability.

At yesterday’s meeting, officials reviewed development proposals linked to the 2026 Budget, with focus on education, health, agriculture, infrastructure, industry, environment and tourism—sectors seen as critical for growth and social protection during the reform period.

Implementation challenges faced by projects carried out in 2025 across several Divisional Secretariat areas were also examined, with discussions centred on resolving bottlenecks early in 2026 and aligning future investments with the district’s five-year development plan.

Senior provincial and district officials, Members of Parliament from Kegalle, local authority heads and divisional secretaries attended the meeting.

Dr. Patabendi said the establishment of the District Planning Committee marked an important step towards embedding IMF-aligned public financial management reforms at the grassroots level, ensuring that development spending contributes to economic recovery while safeguarding fiscal sustainability.

By Ifham Nizam

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Allianz commits €200,000 for post flood recovery in Sri Lanka, part of €600,000 regional relief for Southeast Asia

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Allianz SE (Headquartered in Munich, Germany) announced that it is donating €200,000 to support disaster relief efforts in Sri Lanka. In addition, Allianz SE is also extending its support to Thailand and Indonesia, contributing a further €400,000 to aid disaster relief across Southeast Asia. Torrential rainfalls have triggered severe flooding and landslides across Southeast Asia, leaving more than 1,100 people dead in a week of devastation and complicating rescue efforts for hundreds still missing. Allianz is deeply rooted with local entities in the three countries and serving millions of customers across Asia. By supporting the affected people and communities, Allianz acts on its promise to secure the future of its stakeholders in times of need.

Allianz SE will allocate €100,000 to the Sri Lanka Red Cross Society (SLRCS) to deliver immediate assistance to those most affected and €100,000 will also be provided for post-disaster support, implemented in collaboration with Allianz Insurance Lanka Limited and selected local partners, focusing on disaster prevention and climate resilience, helping communities rebuild and strengthen their preparedness against future events.

Renate Wagner, Member of the Board of Management of Allianz SE, responsible for Asia Pacific, Mergers & Acquisitions, People and Cultures says:

“At Allianz, we stand with the people and communities affected by the severe floods and landslides across Southeast Asia. Through immediate relief and long-term resilience support, we aim to help families recover, strengthen local communities, and better prepare for future climate-related events.”

Anusha Thavarajah, Regional Chief Executive Officer, Allianz Asia Pacific adds:

“Across Indonesia, Thailand and Sri Lanka, many families and communities are facing significant loss and disruption. In moments like these, Allianz stands alongside them. Asia Pacific is home to our people, our customers, and the communities we serve, and we remain deeply committed to the region. Our immediate focus is on providing relief where it is most needed, while also supporting communities to rebuild and strengthen resilience, so those most affected can move forward with confidence.”

Allianz is fully dedicated to Asia and its people. It represents a strategic growth region for Allianz Group, which already has established strong market positions throughout Southeast Asia. Besides Indonesia, Thailand and Sri Lanka, Allianz is present with various business segments in China, India, Malaysia and Singapore, among others.

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