Business
Ibm outlines cloud and ai-led digital transformation strategy for SL
IBM outlined a comprehensive strategy for Sri Lanka driven by Hybrid Cloud, and Artificial Intelligence (AI), underpinned by Cybersecurity at a virtual round-table meeting. As organisations are beginning to reset, recover and revive their business to emerge smarter from the pandemic, IBM will focus on helping them adapt to the new normal by infusing AI into their workflows, shifting to hybrid cloud, strengthening cybersecurity and automating IT processes.
As part of this strategy, IBM announced the extension of its global partnership with PMsquare, a Platinum IBM business partner in Sri Lanka. PMsquare will collaborate with IBM on Data & Business Analytics solutions to co-create and co-innovate with, and for clients in the market. IBM has been a key partner in the technology driven development of Sri Lanka’s business & industry for over 58 years.
Sandip Patel, Managing Director, IBM India/South Asia said, “Sri Lanka has managed to successfully navigate one of the most difficult crises in recent human history and turn around its biggest challenges. The move to Digital has accelerated in the new normal and IBM is leading the way in helping our clients build resilience through a technology driven business transformation. With a strong channel ecosystem, a robust hybrid cloud capability and deep cybersecurity expertise, we are poised to take the lead in helping Sri Lankan enterprises emerge smarter in their digital transformation journey.”
IBM works with several partners in Sri Lanka, helping clients leverage technology in their digital transformation journey. IBM’s strong ecosystem strategy in Sri Lanka enables it to reach out to companies across different sectors, regardless of their size and revenue models.
“IBM nurtures an ecosystem of global business partners that operate in more than 170 countries. Sri Lanka’s partner ecosystem plays an important role in IBMs business strategy as we build deep engagements with our partners to co-create and co-innovate for our customers. Post pandemic, businesses will turn to solutions like Watson AIOps and Cloud Paks to future proof their business. As a global partner, PMsquare’s entry into the Sri Lankan market will make these technologies more accessible and easier to implement for customers,” stated Riza Wadood, Country General Manager, IBM Sri Lanka
Reinforcing IBM’s ecosystem commitment, IBM recently announced a new PartnerWorld programme that provides clear pathways for business partners to create applications, develop code, integrate their intellectual property (IP) or deliver services with the IBM Cloud. This includes helping clients with their hybrid multicloud strategies, which is not limited to just solutions but also services to deliver them successfully.
PMsquare, a leading data analytics consultancy combining international reach with experience across Asia. PMsquare has been an IBM business partner for over 13 years. The company has offices across APAC with representative offices in Europe and North America. It has delivered over 300 performance management and Business Intelligence implementations across the globe. PMsquare Sri Lanka office is located in Colombo.
“PMsquare Sri Lanka already has a customer base of large companies whose combined revenue figures are close to USD 88bn –the annual GDP of Sri Lanka.” said Jason Rankin CA, Regional Director Asia and Group CFO, PMsquare. “After developing the team in Sri Lanka, PMsquare has partnered with IBM to promote IBM Business Analytics solutions to Sri Lankan businesses. IBM is well known for its technology capabilities and now with PMsquare, clients can focus on improving their collaborative planning by using AI powered solutions such as IBM Planning Analytics© and IBM Decision Optimization©.”
PMsquare provides AI-powered IBM Business Analytics solutions that can help companies tackle complex tasks like production optimization, scheduling, routing, demand management and improve their strategy planning with forecasting and advanced predictive capabilities. Many companies have strong ERP tools, but when it comes to strategic planning most still use single user applications that do not have features to support actual planning functions such as stress testing, scenario planning, sensitivity analysis, what-if analysis, simulations, discovering trends/correlations, etc. PMsquare will leverage solutions like IBM Planning Analytics©to streamline, automate and enhance the capabilities of current tools and provide a collaborative planning platform for multiple departments to work together.
Business
Cost-effective clearance of goods across borders to determine worth of Customs Paperless Declaration
By Ifham Nizam
The introduction of the Customs Paperless Declaration from October 1 could mark an important step in Sri Lanka’s efforts to modernise trade, but its real value will depend on whether it reduces the time and cost of moving goods through the country’s borders, Customs House Agents & Traders Association President Mohamed Niyas said.
Niyas warned that digitising Customs declarations alone would not necessarily translate into faster cargo clearance or lower costs for businesses.
‘Expecting a dramatic improvement in clearance speed under the present conditions is like expecting Ferrari performance from a Morris Minor configuration, he said.
For importers and exporters, the issue extends well beyond paperwork. Every additional hour or day that cargo remains in the clearance chain can have wider consequences for businesses, including increased port and storage-related costs, additional working-capital requirements, uncertainty over delivery schedules and disruptions to production and distribution.
Niyas said the competitiveness of Sri Lanka’s trading sector ultimately depended on how efficiently goods could move through the country’s border-clearance system.
‘The real bottleneck is not merely the absence of paper. It is the entire clearance ecosystem—the limitations of the existing ASYCUDA World system, excessive regulatory interventions by Other
Government Agencies, multiple approvals, physical examinations, manual interventions, fragmented processes and institutional constraints, he said.
He cautioned that unless these bottlenecks were addressed, there was a risk that the paperless initiative would merely digitise existing bureaucracy.
‘If these underlying constraints remain unchanged, there is a real risk that the new paperless system could become another “copy-and-paste road show”—where an old, complex clearance process is simply transferred onto a digital screen without fundamentally changing the process itself, Niyas said.
For businesses dependent on imported raw materials, machinery, components and other inputs, clearance efficiency can directly affect the wider supply chain.
Delays at the border can create uncertainty for manufacturers, distributors and retailers, while exporters can face difficulties meeting delivery schedules when imported inputs or export consignments are held up.
Niyas therefore argued that the success of the October 1 initiative should be judged by its impact on trade flows rather than by the number of declarations processed electronically.
‘Paperless does not automatically mean faster, he said. ‘Digitising a slow process does not make the process fast. It only makes the slow process digital.’
He said Sri Lanka needed to move towards what he described as “process-less Customs”—a system in which unnecessary procedures are eliminated rather than simply converted into electronic procedures.
Among the reforms he called for are simplification of Customs declarations and approval workflows, improvements to the functionality of ASYCUDA World, greater use of risk-based inspections and better integration of Other Government Agency approvals.
Niyas also called for the elimination of repetitive document submissions and physical endorsements, greater use of pre-arrival processing, sufficient capacity for digital document uploads and clearly defined service-level timelines for Customs and OGAs.
Business
China backs Sri Lanka’s Non-aligned stance to counter regional pressures
By Sanath Nanayakkare
As global attention has fixed on the high-level diplomatic choreography at the United Nations General Assembly in New York, a subtler, yet profound geopolitical signal was sent from Colombo, yesterday.
In a major address marking the founding anniversary of the People’s Republic of China, newly appointed Chinese Ambassador Wei Huaxiang chose to anchor bilateral relations not just in modern trade or infrastructure, but in a shared respect for Sri Lanka’s legacy of non-aligned independence.
By explicitly invoking Sri Lanka’s foundational role in the 1976 Non-Aligned Summit, Beijing was doing something unexpected in an era defined by fierce great-power rivalry: it was officially validating a small island nation’s right to maintain an independent foreign policy stance.
The Strategic Value of Independence
For decades, nations caught in the crosshairs of major-power competition have faced intense pressure to pick sides. Yet, Ambassador Wei’s embrace of Colombo’s non-aligned tradition signaled a different diplomatic playbook. Instead of demanding alignment, Beijing was framing its partnership as a reliable counterbalance to regional pressures. By honouring Sri Lanka’s diplomatic autonomy, China was effectively reassuring smaller economies that sovereign independence and robust economic cooperation can coexist.
Beyond Ports and Industrial Zones
This diplomatic framing reframed the narrative surrounding major collaborative ventures like the Colombo Port City and Hambantota Port. While foreign analysts often view these projects exclusively through the lens of strategic rivalry, Beijing’s diplomatic messaging tied them back to a historical ethos of solidarity—evoking memories of the 1952 Rubber-Rice Pact.
By marrying economic projects with a stated respect for non-alignment, China is positioning itself as a steadfast stakeholder that respects Sri Lanka’s internal agency during difficult economic and political seasons.
As both nations look toward major milestones in 2027—including the 70th anniversary of diplomatic ties—this nuanced diplomatic move revealed how historic traditions are being leveraged to navigate modern multipolar realities.
For global observers, the takeaway was clear: in the shifting architecture of Asian geopolitics, respecting a nation’s historical neutrality may just be the most effective way to secure a lasting partnership, a diplomatic masterclass that Ambassador Wei Huaxiang executed in style.
Business
Sri Lanka Insurance Life appoints Dr. Sameera Dharmasena Chief Executive Officer
Sri Lanka Insurance Life (SLIC Life), the nation’s largest and strongest Life Insurer, is pleased to announce the appointment of Dr. Sameera Dharmasena as its new Chief Executive Officer, effective 22nd September 2026.
Dr. Dharmasena is a distinguished insurance professional with over 21 years of experience in the Sri Lankan insurance industry, having held senior leadership positions across several leading insurance companies affiliated with some of Sri Lanka’s largest business conglomerates. His extensive career spans both local and multinational insurance environments, bringing together broad industry expertise, strategic leadership and a strong commitment to the advancement of the insurance profession.
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