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“BOC’s role towards expanding export business in Sri Lanka is commendable”

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Mangala Wijesinghe

Sri Lanka’s export economy is entering a period of adjustment. For decades, tea and apparel have done the heavy lifting. But with changing markets, new trade regulations, and a wider push for economic recovery, the country is now being asked to think differently about how it earns foreign income.

The Export Development Board plays a central role in this. Led by Mangala Wijesinghe, the EDB is working across agencies and sectors to expand the reach of Sri Lankan products and services. That includes tackling long-standing issues around market access, improving support for small exporters, and finding ways to bring younger business owners into global trade.

In this interview, EDB Chairman Mangala Wijesinghe explains the Board’s current focus, the importance of financial and institutional partnerships, such as those with Bank of Ceylon, and what it will take to create lasting opportunities for Sri Lankan exporters in a changing world.

How would you describe the EDB’s current role in driving Sri Lanka’s export competitiveness and economic diversification? Could you share some key focus areas the Board is prioritising this year?

The EDB plays a pivotal role in driving the country’s export growth via its mandate as the policy adviser, monitor, promoter, facilitator, and knowledge provider in developing and promoting Sri Lanka’s exports. The goal of the EDB is to provide assistance and create opportunities for Sri Lankan exporters and industries to expand their business internationally, thereby increasing export sales and employment prospects in the region.

Being the premier export promotion agency in the country, we assist export-ready entrepreneurs to enter the international marketplace by providing guidance and advice to fulfil key market entry requirements, such as obtaining the vital internationally recognised quality standard certifications as well as ensuring compliance with the necessary legal requirements.

SME Development is another one of our key focus areas. In collaboration with the International Finance Corporation (IFC) and the European Union (EU), the Board initiated the Sri Lanka Export Excellence Initiative (SLEEI) in 2025, which supports Sri Lankan SMEs from across the country to establish a sustainable export presence in international markets. The programme focuses on key export sectors, such as processed food and beverages, coconut-based products, spices and concentrates, herbal cosmetics, ICT/BPO services, handicrafts and lifestyle products.

The Bank of Ceylon (BOC) and The EDB recently entered into a partnership aimed at supporting exporters. How does this collaboration enhance the support available to Sri Lankan exporters, particularly SMEs and first-time exporters?

In 2023, the Bank of Ceylon signed a MoU with the EDB, marking a strategic partnership to foster export-related indigenous SMEs. The strategic partnership is focused on empowering SMEs through a series of programmes to upscale their financial literacy and business intelligence, enabling them to meet the demands of international trade markets and, eventually, to elevate the country’s export sector. The BOC’s extensive geographical and digital reach to approach the SMEs nationwide is highly beneficial to achieve the intended objectives of the programme.

The BOC Youth Entrepreneurship Loan Programme has received attention for encouraging young individuals to step into business. From the EDB’s perspective, how do you view the programme’s potential in nurturing the next generation of exporters?

The BOC in a highly praiseworthy move had initiated the Youth Loan Scheme to fuel the dreams of young innovators and business leaders. Lack of access to finance is one of the biggest obstacles faced by the budding entrepreneurs in the country and the loan scheme of the BOC addresses this fundamental problem.

As loans are provided to individuals who are under the age of 30, it serves as a catalyst in propelling the spirit of entrepreneurship among the youth. It also helps to nurture the next generation of exporters in the country by providing the required seed capital to establish export-oriented businesses. The current generation of exporters in the country is aging and we need to develop a new generation of exporters to drive the growth of exports in Sri Lanka.

A younger brigade of exporters would be better positioned to lead the much required transformation in the island’s export landscape with a considerable focus on sectors driven by innovation and technology. Today’s youth are quite smart and they are highly adept at embracing new technologies unlike the older generations. I hope the BOC could increase the size of financial assistance through the loan scheme which would greatly contribute towards giving birth to a new generation of youthful exporters, which is a pressing national economic priority.

The BOC Export Circle aims to support and empower existing and aspiring exporters through targeted banking and advisory services. In what ways do you think initiatives like these complement the EDB’s broader national export development strategy?

I have been informed that BOC Export Circle serves as a fully-fledged unit which offers export facilities with end-to-end financial and non-financial services for start-ups and SME export businesses throughout the supply chain. Pre-shipment and post-shipment finance solutions satisfy the critical working capital needs of exporters. Further non-advisory services like providing due diligence on overseas buyers via credit reports obtained from international credit rating agencies offer valuable assistance towards exporters in terms of managing credit risks.

The EDB is mainly focused on developing markets for Sri Lankan exporters as well as capacity development. Catering to the financial needs of exporters is the responsibility of the commercial banks in the country. The availability of both long-term and short-term financial facilities allow exporters to take their businesses to greater heights, which is what the EDB’s broader national export development strategy envisages. Actually, the development of exports should not be confined to the EDB alone, rather it is a nationwide obligation. We need a strong ecosystem to develop and promote Sri Lanka’s exports and, as the EDB Chairman, I am quite happy to observe that the BOC has emerged as a premier provider of financial solutions to the nation’s exporter community.

Looking at 2025, what are the EDB’s export growth targets or milestones, and how aligned are they with Sri Lanka’s overall economic recovery and national development goals?

Our target in terms of the total export income for 2025 is $ 18.2 billion (Goods – $ 14.1 billion and Services $ 4.1 billion). We see strong potential for growth in gem and jewellery, fisheries, and construction. The Board is working with other agencies to clear regulatory barriers that hinder the progress of those sectors. As our economy is currently experiencing a strong recovery, the growth in both merchandise and service exports would tremendously help to maintain economic stability, particularly in the external sector. Our 2025 export target is aligned with the government’s ambition of earning a total export income of $ 36.5 billion in 2030.

As a national body, the EDB has long played a role in building capacity and market access for exporters. Could you elaborate on the recent initiatives introduced by the Board to support exporters in adapting to the changing dynamics in global trade?

The current international trade regime evolves at a rapid pace, hence, it is imperative that exporters remain abreast of the ever changing international business environment characterised by frequent disruptions in terms of technological innovations and changes in laws and regulations.

In this day and age, digital technology plays a highly critical role in the way we live. The EDB is currently undertaking a series of awareness sessions to educate export-oriented businesses social media marketing, content creation, e-commerce and AI-driven digital marketing tools. We also continuously brief exporters in respect of changes in market-entry requirements of key export destinations of Sri Lanka such as the EU, the UK, and the US through seminars, webinars and training programmes.

These initiatives are often carried out in collaboration with institutions, such as Bank of Ceylon, which play a key role in providing exporters with financial literacy, trade financing options, and access to export credit facilities.

Finally, what message would you like to share with Sri Lankan youth, particularly those who are looking to pursue careers in entrepreneurship or consider entering export markets?

The modern day youth are smart thinkers and they are quite capable of identifying market opportunities. Unlike, in the past, universities and higher educational institutes offer numerous courses and study programmes that sharpen the skills of entrepreneurship. I view those developments positively.

My message to the youth, who wish to become entrepreneurs, is whether they do business locally or internationally, the key to successful entrepreneurship is the ability to understand the requirements of the market correctly. Becoming market-oriented and adapting to the requirements of the market are essential in terms of succeeding in entrepreneurship.We also encourage young entrepreneurs to leverage the services of institutions, like Bank of Ceylon, which offers financial tools, advisory services, and export financing that are critical for scaling up businesses and entering global markets.

In conversation with Mangala Wijesinghe, EDB Chairman



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“Badhu Shakthi 2026” National Tax Week begins

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The inaugural ceremony of “Badhu Shakthi 2026” (“බදු ශක්ති 2026”) National Tax Week, organised by the Revenue Administration Reform and Modernisation Unit of the Presidential Secretariat with the objective of strengthening State revenue generation and accelerating the country’s future development process, was held on Monday (06) morning  at the Presidential Secretariat under the patronage of Speaker Dr Jagath Wickramaratne.

“Badhu Shakthi 2026” is a year-round national programme aimed at transforming the negative public perception of taxation into a positive one while fostering a culture of voluntary tax compliance. To mark its commencement, a National Tax Week will be observed across the island from 6 to 10 July.

A nationwide media and public awareness campaign will be conducted in parallel, including the distribution of leaflets and a range of promotional activities designed to educate the public directly and encourage greater tax compliance.

Addressing the inaugural event, Speaker Dr Jagath Wickramaratne stated that “Badhu Shakthi 2026” is not simply a tax collection campaign but a national initiative aimed at cultivating responsible citizens who love their country.

Further elaborating, the Speaker said:

“Today marks a significant milestone in our country’s future development and economic stability. The strength and sustainability of any sovereign nation depend on its economic independence. Taxation is one of the key instruments for strengthening State revenue and driving national development.

However, taxation has long been viewed negatively by many people. That perception was largely shaped by those responsible for collecting taxes and by successive administrations. When people develop a sense of national responsibility, their attitudes begin to change. For many years, taxes were regarded as a burden. History has shown us that tax evasion occurred on a significant scale, and it must be acknowledged, however reluctantly, that such practices often enjoyed political patronage.

In the past, the public had little understanding of how their tax contributions were utilised. Taxpayers lacked a clear vision of the benefits derived from the taxes they paid. The present Government has succeeded in changing this situation by fostering a more positive public attitude towards taxation. I wish to pay tribute to all taxpayers who contribute towards the Government’s national development agenda.

Today, people have confidence that the taxes they pay are being put to good use. Expressways, highways and power infrastructure projects are now being implemented using domestic funds. There is a sense of pride among the public that construction of the Kandy Expressway has commenced without obtaining loans from any external source. Cabinet approval has also been granted to commence work on the Kurunegala–Galewela Road.

Today, Sri Lanka has grown stronger as a nation capable of financing development activities through domestic resources rather than relying on foreign borrowing.

In ancient times, the country’s great stupas, reservoirs and irrigation networks were built through the collective contribution of the people. Likewise, Sri Lanka can become a prosperous and developed nation only through collective effort. The taxes collected today are being utilised for the welfare of the people. This was clearly demonstrated when the Government allocated Rs. 500 billion in response to Cyclone Ditwah. In addition, substantial benefits are now being provided to the public through the President’s Fund. Educational assistance is being extended to schoolchildren across every corner of the country. All of these initiatives are being financed through domestic resources.

It is essential that the public are made aware of the real benefits derived from tax revenue and of the development projects being implemented. This will strengthen public confidence in the transparent use of tax revenue. The primary objective of this national programme is to broaden the country’s tax base, improve tax compliance, reduce tax evasion and foster a positive attitude towards taxation. If everyone pays their fair share of taxes, the tax burden borne by others can be reduced.

We do not build a beehive with a single bee. It is created through the collective effort of thousands of bees, making it a remarkable achievement. Likewise, ‘Badhu Shakthi 2026’ is not merely a tax collection campaign. It is a national movement to cultivate responsible citizens who love their country. I extend my sincere appreciation to everyone who has dedicated themselves to making this important initiative a success.”

Labour Minister and Deputy Minister of Finance and Planning Anil Jayantha Fernando:

Labour Minister and Deputy Minister of Finance and Planning Dr. Anil Jayantha Fernando said that a proper understanding of taxation among citizens would enable Sri Lanka to make greater progress towards economic and social transformation.

He noted that while individuals naturally pursue their own personal goals and aspirations, many of these objectives cannot be achieved in isolation. The success of any society depends on cooperation and collective effort.

He further stated:

“Today, paying taxes has become a much simpler process. As a result, tax collection is now carried out more efficiently and systematically. At the same time, the Government recognises its responsibility to ensure that tax revenue collected fairly is managed prudently and utilised for the benefit of society. If the Government fails to demonstrate sound financial discipline, people will lose confidence and become reluctant to pay taxes. This was evident in the past.

Accordingly, the Government has introduced a tax administration system founded on strong fiscal discipline. We will not tolerate fraud, corruption or waste. If we are to rebuild this country, every citizen must contribute willingly and with a sense of national responsibility. This should not be driven solely by legal obligation. We are confident that the people of Sri Lanka will fulfil this responsibility.”

Deputy Minister of Economic Development Nishantha Jayaweera, Director General of Customs Wimal Liyanagama, Director General of Excise M.B.N.A. Premaratne, and Commissioner General of Inland Revenue Rukdevi Fernando also addressed the gathering.

Among those present were Director General of Public Relations to the President Dharmasiri Gamage, senior officials of the Presidential Secretariat, the Ministry of Finance, Sri Lanka Customs, the Department of Excise, the Inland Revenue Department, as well as taxpayers and other invited participants.

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Renovated Narahenpita Railway Station reopens to the public under the ‘Dream Destination’ initiative

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Bimal Rathnayake, Minister of Transport, Highways and Urban Development

The Narahenpita Railway Station, which has been upgraded and refurbished under the ‘Dream Destination’ programme to modernise and improve facilities at 100 railway stations across the island through a public-private partnership, was officially reopened to the public on Monday (06) morning  under the patronage of Minister of Transport, Highways and Urban Development Bimal Rathnayake.

The ‘Dream Destination’ programme is being implemented as a sustainable initiative by the Clean Sri Lanka Secretariat, under the guidance of the Ministry of Transport, Highways and Urban Development and the supervision of the Department of Railways.

Located on the Kelani Valley Railway Line between the Cotta Road and Kirulapone suburban railway stations, Narahenpita Railway Station had remained without refurbishment for many years and had deteriorated into an unsafe facility with inadequate passenger amenities. The station serves a large number of commuters travelling to and from the Narahenpita area, where numerous public and private sector institutions are located.

Accordingly, refurbishment work commenced on 27 September 2025, under the leadership of the Clean Sri Lanka Secretariat, with MAGA Engineering (Pvt.) Ltd. providing financial support and undertaking construction work, while NIO Engineering contributed technical expertise and related services.

The refurbishment included the construction of a new pedestrian overhead bridge, installation of a new station roof, extension of the second passenger platform, improvements to the sanitation and sewerage systems, internal and external repainting, installation of new passenger seating, renovation of the railway quarters, upgrading of the lighting system, resurfacing of the station access road with asphalt, and a range of other improvements to the station and its surrounding infrastructure.

MAGA Engineering (Pvt.) Ltd. invested Rs. 40 million in the project.

Addressing the ceremony, Minister Bimal Rathnayake said that the primary objective of the ‘Dream Destination’ initiative is to improve railway services by enhancing passenger facilities, while noting that upgrading the railway service’s human resources and physical infrastructure is a major undertaking.

He emphasised that the Government’s plan is to resolve long-standing issues while systematically improving the entire railway network, adding that several measures have already been introduced to enhance the efficiency of public transport services.

The Minister further announced that the initial steps towards introducing an electric railway service will be taken next year as part of the expansion of the railway network. The first phase will focus on the Colombo–Panadura, Colombo–Makumbura, and Colombo–Ragama corridors.

Minister Rathnayake also stated that, alongside improvements to public transport, the Government has initiated a collaborative public-private development process to upgrade related infrastructure. He described the ‘Dream Destination’ initiative as another commitment aimed at improving people’s daily lives, ensuring their safety and securing their future, while also incorporating public views and aspirations.

Among those present were Member of Parliament Attorney-at-Law Lakmali Hemachandra, Deputy Mayor of the Colombo Municipal Council Hemantha Weerakoon, United National Party Colombo Municipal Councillor Sunanda Liyanapathirana, Additional Secretary of the Clean Sri Lanka Secretariat Eng. S. P. C. Sugeeshwara, Additional Director General Kapila Senarath, Director H. P. S. Shantha, Director (Social Sector) Chinthaka Rajakaruna, Assistant Director Nishantha Alwis, Regional Coordinator Shashi Piyushan, General Manager of Railways Ravindra Pathmapriya, Additional General Manager (Operations) Chandrasena Bandara, Deputy General Manager (Traffic) N. J. Indipolage, Chief Engineer (Industries) Priyantha Deegala, Co-Managing Director of MAGA Engineering (Pvt.) Ltd. Megha Kularatne, Chief Executive Director Piyadasa Madarasinghe, Project Coordinator Sanjeewa Peiris, Maradana Station Master H. P. K. Pushpa Kumara, Narahenpita Station Master R. M. Rohana Upul Kumara, Station Master (Operations) Madhusha Gunawardhana, together with senior officials from the public and private sectors and a large gathering of invitees.

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Bus Sector Clustering Pilot Program on route numbers 170, 177, and 190

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Bus transport is the primary mode of transport that fulfills  the daily transport requirements of the country, and this service is provided by the Sri Lanka Transport Board and a large number of independent private bus operators.

Many problems have arisen, such as excessive competitiveness, poor adherence to the prescribed timetable, a large number of operators on the roads, unsafe behavior of bus operators,
inconvenience encountered by the passengers, traffic congestion, service imbalance, and inefficient use of resources due to the long-standing operational system in providing public passenger transport services.

As a successful solution to these problems, many countries in the world have introduced a ‘Bus Sector Clustering Program,’ and the bus service is operated under joint management in the same transport corridor or geographical area.

It has been acknowledged that the introduction of bus sector clustering, a methodology that involves the clustering of unified and coordinated bus services on interconnected routes under a single management, could be used to achieve the provision of an effective passenger transport service and the minimization of most operational and social issues, as opposed to the operation of a single operating unit.

Accordingly, taking into account the matters furnished by the Minister of Transport, Highways, and Urban Development, the Cabinet of Ministers has approved the implementation of the
pilot program relevant to the bus sector clustering program on the bus corridor covering routes 170, 177, and 190 initially, with the participation of related stakeholders, and to expand the project further based on the results of the pilot project.

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