The Cabinet of Ministers has approved the joint proposal presented by the Minister of Industry and Entrepreneurship Development to include the aforesaid amendments of the Acts to the Legal Compilation Program of the government in the year 2025 for the amendment of the following Acts.

• National Gem and Jewellery Authority Act, No. 50 of 1993.
• Technical Development Act No. 36 of 1969
• Sri Lanka institute of textile and apparel Act, no. 12 of 2009
• Sri Lanka Export. Development Act, No. 40 of 1979
• National Enterprise Development Authority Act No. 17 of 2006 and National Enterprise Development Authority Act No.18 of 2014 (Amendment)
• National Crafts Council and Allied Institutions Act No. 35 of 1982
• National Crafts Council and Allied Institutions Act No.4 of 1996 (Special Provisions)

[It has been planned to amend the above acts that come under the subject of institutions implemented under the Ministry of Industry and Entrepreneurship Development this year to create a strong and suitable institutional framework to expedite economic conversion in Sri Lanka]

The Global Franchise Forum 2025, held at the Sheraton Hotel in Colombo recently was seen by dignitaries present as delivering significant benefits to Sri Lanka’s economy, entrepreneurs and the country’s global standing. Gaurav Marya, chairman, Franchise India Group, complimenting the event said, among other things, that the event was a ‘meeting of minds, markets and opportunities’.

The event attracted global brands, investors and business leaders, connecting them with Sri Lanka’s entrepreneurial community and was seen as laying the groundwork for long-term economic growth and collaboration.

Gaurav Marya, further said:

“We are thrilled to see such an enthusiastic and relevant audience in Sri Lanka. The energy in the room reflected the hunger for growth and the readiness of Sri Lanka’s entrepreneurs to embrace global brands and scale with purpose.”

Knowledgeable observers added: ‘Franchising offers a tested pathway for small and medium enterprises (SMEs) to grow sustainably. Through partnerships with established global brands, Sri Lankan entrepreneurs now have better access to proven business models, reducing startup risks and improving scalability. This promises to generate significant employment opportunities in sectors like hospitality, healthcare, retail, and education, thereby strengthening the social and economic fabric of the country.

“The forum also helped reinforce Sri Lanka’s strategic position as a gateway to South Asia. Highlighting the country’s growing consumer base, skilled workforce and improving business environment, the event attracted international attention, signaling Sri Lanka’s readiness to play a larger role in regional trade and investment flows.

“Support from respected organizations—including the Indo-Lanka Chamber of Commerce, ICC Sri Lanka, and FCCISL—helped foster new partnerships and cross-border collaboration opportunities. By encouraging foreign investment and knowledge-sharing, the forum is set to help Sri Lankan businesses become more competitive regionally and globally.

“Panels, workshops, and one-on-one business meetings equipped attendees with vital knowledge about franchising strategies and global business practices. The presence of industry experts offered Sri Lankan entrepreneurs valuable tools for success, promoting a culture of innovation and strategic growth.”

Reflecting on the broader significance of the event, Gaurav Marya added,

“Sri Lanka is clearly moving toward economic recovery. Despite global headwinds, including recent trade policy shifts, the Global Franchise Forum 2025 Sri Lanka Edition has helped catalyze timely conversations and build sustainable partnerships that support long-term economic development and resilience.”

By Ifham Nizam

National Savings Bank (NSB) announces the appointment of Ajith Akmeemana as the Chief Financial Officer (CFO), effective immediately.

Ajith Akmeemana has nearly 35 years of experience in the financial services industry driving financial strategies and ensuring sustainable organizational growth and profitability.

He brings extensive experience in corporate planning, asset-liability management, treasury management and corporate finance activities, complemented by C-suit leadership roles at Nations Trust Bank and Bank of Maldives. His career commenced at Standard Chartered Bank, Sri Lanka, and includes a strong foundation in audit and advisory services at Ernest & Young.

Akmeemana is a Fellow Member of the Institute of Chartered Accountants of Sri Lanka and holds an MBA from the University of Manchester, UK. He is also a Graduate Member of the Sri Lanka Institute of Directors and an Associate Member of the Institute of Bankers of Sri Lanka.

Commenting on his appointment, Akmeemana said, “It is an honor to join National Savings Bank, an institution with a strong legacy and an essential role in Sri Lanka’s financial sector. I look forward to supporting NSB’s mission and contributing to its continued growth and success.”

The Chairman, Board of Directors, GM/CEO, and the entire NSB team warmly welcome Akmeemana and are confident in his ability to lead the Bank’s financial operations in alignment with its strategic direction.