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ILO convenes National Policy Symposium in Sri Lanka to boost a job rich economic recovery with investment in enterprise development

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Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka (CBSL), and Simrin Singh, Director, ILO Sri Lanka and the Maldives, addressing the gathering'

The International Labour Organization (ILO), in collaboration with the Central Bank of Sri Lanka, the Office of the Governor of the Northern Province, and the Ceylon Chamber of Commerce, successfully organized a national policy symposium focused on promoting youth entrepreneurship and generating greater private sector investments in Sri Lanka.

With a regional and sectoral focus, the symposium brought to the forefront challenges, insights, and interventions towards creating a favorable ecosystem for enterprise development and investment promotion in Sri Lanka. The symposium is a joint initiative between two ILO flagship projects: Local Empowerment through Economic Development and Reconciliation (LEED+), and South Asia Leadership in Entrepreneurship (SALE).

Speaking at the event, Dr. P. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka said, “The symposium emphasized the importance of nurturing an entrepreneurial mindset, particularly among the youth. It recognized that shifting the perception of entrepreneurship from a last resort to a preferred career option is essential for sustainable economic development. Creating a favorable ecosystem for enterprise development should have a sectoral and regional focus, taking into account the unique characteristics and opportunities of different industries and areas.”

One of the significant processes leading up to the symposium was sectoral discussions to identify opportunities and challenges for investments in the Northern Province. This initiative of the ILO LEED+ project provided valuable insights into the specific requirements of the region, helping shape the policy discussions and recommendations. The ILO SALE project, as part of its efforts to foster collaboration and knowledge-sharing among key stakeholders to create an entrepreneurship-friendly ecosystem, conducted joint policy forums with the Central Bank of Sri Lanka and the Ceylon Chamber of Commerce. The symposium saw discussions on the findings of this initiative.

In his introductory remarks, Mr. S. M. Saman Bandulasena, Chief Secretary of the Northern Province highlighted that, “The way forward lies in the hands of the relevant line ministries, the State Ministry of Rural Economy, the Central Bank of Sri Lanka, the Tertiary and Vocational Education Commission (TVEC), and the Ceylon Chamber of Commerce. Together, these entities have a mandate to create a conducive environment for entrepreneurship and investment promotion. By doing so, they aim to generate decent and productive employment opportunities for all.”

It was underscored that both the government and other ecosystem players, including development sector entities, and private sector, have a crucial role to play in supporting emerging startups and promoting business resilience. By providing the necessary support and guidance, they can help these startups thrive and contribute to the overall economic recovery of Sri Lanka.

Speaking on the significance of the symposium, “The symposium comes at a crucial time where Sri Lanka is exploring pathways to accelerate economic growth. For the country to move towards a job-rich and inclusive recovery, creating an enabling environment for investments at the regional and provincial level, taking into account area-specific challenges and opportunities, as well as promoting entrepreneurship is critical. This symposium is a platform to share valuable insights gained through extensive engagement with diverse stakeholders, as well as practical and promising on the ground solutions, to influence favourable policy outcomes,” said Simrin, Singh, Director, ILO Country Office for Sri Lanka and the Maldives.

Shiran Fernanado, Chief Economist of Ceylon Chamber of Commerce said “This timely national policy symposium comes as a much-needed intervention within the context of Sri Lanka’s economic recovery. By promoting investments and entrepreneurship, it aims to revitalize the economy and create sustainable growth opportunities. The symposium’s main message revolves around the significance of fostering an entrepreneurial culture, creating an enabling environment for investment promotion, and driving economic development at both the regional and national levels.”

The credibility of the symposium’s findings and recommendations is backed by the compilation of extensive research and insights obtained from diverse stakeholder consultations. The collaboration with numerous established and recognized partners further enhances the validity and reliability of the proposed solutions.

The LEED+ project is a part of ILO’s Global Jobs for Peace and Resilience Programme and supported by the Australian Government Department of Foreign Affairs and Trade (DFAT), and the Government of Norway. The SALE programme is supported by the United States Department of State. The ILO is the United Nations specialized agency for the world of work. It sets international labor standards, provides technical assistance, and engages in policy dialogue to address pressing issues related to employment, labor rights, and social protection. The ILO works closely with governments, employers’ and workers’ organizations, and other stakeholders to achieve its mission of advancing social justice and promoting decent work worldwide.



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ComBank hands over fully refurbished wards at De Soysa Hospital for Women

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Pictured here are the representatives of the Bank and senior officials of the hospital at the ceremonial handing over of the refurbished ward.

The Commercial Bank of Ceylon recently handed over Wards No. 03 and 04 of the De Soysa Hospital for Women, after the completion of a comprehensive renovation project launched in March this year to mark International Women’s Day.

Wards 03 and 04 handle a substantial share of the hospital’s patient load, and account for approximately 2,500 to 3,000 deliveries and 4,000 to 5,000 admissions annually. Their refurbishment was designed to significantly enhance patient care, safety and comfort, and directly benefit thousands of mothers and newborns.

Five Trustees of the Commercial Bank’s Corporate Social Responsibility Trust participated in the formal handing over of the refurbished wards to the hospital authorities. They were Sharhan Muhseen, the Bank’s Chairman, Raja Senanayake, Deputy Chairman, Sanath Manatunge, Managing Director/CEO, Hasrath Munasinghe, Chief Operating Officer, and Prasanna Indrajith, Chief Financial Officer.

Established in 1879, the De Soysa Hospital for Women is the first maternity hospital in Sri Lanka and the second oldest in Asia and is credited with, among others, performing the country’s first caesarean section in 1905 and establishing one of its earliest organised operating theatres in 1907.

The Commercial Bank’s Corporate Social Responsibility Trust, through which this project was implemented, has via its healthcare-related interventions supported more than 100 government hospitals with essential equipment and infrastructure, contributed to emergency medical services through the ‘Adopt an Ambulance’ initiative, and implemented targeted community health interventions such as water storage solutions for families affected by kidney disease.

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IIHS expands global nursing pathways

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Dr. Renuka Jayatissa and Dr. Kithsiri Edirisinghe speaking to the media

The International Institute of Health Sciences (IIHS) Multiversity is expanding its international education programmes with the aim of creating overseas employment opportunities for Sri Lankan nurses and allied health professionals while contributing to foreign exchange earnings.

Speaking to the media during a conference at IIHS Multiversity in Kerawalapitiya, Dr. Kithsiri Edirisinghe, CEO, Co-Founder and Dean of IIHS aid that the institute has established academic partnerships with overseas universities and higher education institutions, including the University of Surrey in the UK, Deakin University in Australia, Metropolia University of Applied Sciences in Finland, Asia e University in Malaysia and SUNY Canton in the United States.

Under its ‘Study in Sri Lanka, Graduate to the World’ model, students can complete foundational and diploma-level qualifications locally before progressing to international top-up degrees or overseas employment.

Dr Edirisinghe said the model could substantially reduce the cost of obtaining internationally recognised qualifications. It estimates that completing a four-year bachelor’s degree at the University of Surrey in the UK would cost about USD 145,700, including tuition and living expenses, compared with about USD 27,750 through the IIHS pathway in Sri Lanka.

Dr Edirisinghe said the institute’s focus on overseas deployment addressed both Sri Lanka’s economic needs and the growing global demand for healthcare workers.

“Our winning model is producing job-ready, registration-ready healthcare professionals who can seamlessly enter foreign healthcare systems,” he said.

IIHS, which began operations in 2002 as the American College of Health Sciences, established its institutional base in Welisara in 2008 and launched its purpose-built greenfield multiversity campus in 2023.

The institute said it has upgraded the qualifications of more than 5,000 government nurses, supported over 2,500 youth on international employment pathways and trained more than 1,000 allied health professionals. It has also carried out over 250 community health projects.

The institute has identified Germany and Japan among its target markets, with pathways planned for 2,000 nurses for Germany and a one-year preparation programme linked to around 4,000 healthcare positions in Japan.

Dr. Renuka Jayatissa, Vice-Chancellor and a specialist medical doctor, said demographic changes and the growing burden of non-communicable diseases were changing healthcare requirements in Sri Lanka.

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Sampath Bank launches Sri Lanka’s first community-powered book discovery platform at Colombo International Book Fair

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Sampath GPay customers can enjoy 25% cash back on Book Fair purchases

Sampath Bank PLC has launched Sampath Book Finder, Sri Lanka’s first community-powered book discovery platform, giving visitors to the Colombo International Book Fair a faster and more seamless way to find the books they are looking for across the fair’s 150+ stalls, while also opening up new opportunities to discover titles recommended by fellow readers.

Introduced on the opening day of the Colombo International Book Fair on 25 September, Sampath Book Finder brings together digital innovation and the collective knowledge of readers to address a familiar challenge at one of Sri Lanka’s largest literary gatherings, where the scale of the fair can make locating a particular title a time-consuming exercise. When a book proves difficult to locate, visitors can access bookfairtracker.com or scan the designated QR code and submit a request to the community, allowing readers who have already spotted the title to share its location and help others find it without having to search stall after stall.

Commenting on the initiative, Milinda Weerasinghe, Chief Marketing Officer, Sampath Bank PLC, said, “At Sampath Bank, we believe meaningful innovation begins by identifying everyday challenges and creating solutions that make a real difference. Sampath Book Finder brings this thinking to the Colombo International Book Fair by turning the collective knowledge of readers into a real-time digital solution, empowering them to find what they are looking for, discover something new and help others do the same, while making the overall experience more convenient and connected.”

The platform also turns book discovery into a shared experience, allowing visitors to recommend books they encounter by sharing the title, publisher, hall and stall number, which enables fellow readers to discover sought-after titles and recommendations while making it easier to locate them within the fair.

Sampath Bank’s longstanding association with the Colombo International Book Fair also continues in 2026, marking more than 20 years of partnership, with the Bank serving as the Official Banking Partner for this year’s fair. As part of its presence at the event, SampathCards offer 25% cashback for Sampath GPay customers on their purchases and 3 months 0% instalment plans for book purchases via Sampath credit cards, while visitors can also access banking services through the Bank’s physical presence at the fair. Customers registering to open selected Fixed Deposits at the premises will receive an additional 0.25%, adding further value and convenience for visitors.

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