Business
Investors continue to cash in on the Sri Lankan apparel sector’s resilience
Investors are cashing in on the strong prospects of Sri Lanka’s apparel and textile exports sector, the country’s main export industry, which caters to some of the leading fashion brands globally.
Although the South Asian island announced that it would default on its foreign debt earlier this year, the country’s exports and Foreign Direct Investment (FDI) inflows – both overall and relating to the apparel sector – have ‘bucked the trend,’ showing remarkable resilience.
Sri Lanka’s cumulative national merchandise exports for 2022 up to the end of May exceeded US$5.1 billion, a nearly 10% increase from the same period of 2021 and a 46% increase from the corresponding period of 2020. Similarly, the apparel and textile sector recorded US$2.25 billion in export earnings during the same period of 2022, reflecting an 86% increase year-on-year.FDI inflows to Sri Lanka have mirrored the positive performance of its exports sector.
Overall, Sri Lanka has attracted more than US$ 228 Million in FDI during the first quarter of 2022, a 17% increase compared with the corresponding period of last year. FDI inflows to the apparel sector – considering the value of agreements signed with investors too as increased fourfold up to the end of June 2022 in comparison to January – June of the corresponding period in the previous year.
“Considering the challenges that Sri Lanka has overcome in the past, investors remain confident of the country’s prospects and resilience,” said Renuka M. Weerakone, the Director-General of Sri Lanka’s Board of Investment (BOI), the country’s dedicated investment promotion and facilitation agency.
“Due to strong interest, especially among apparel industry investors, we recently set up three new re-investment teams to support investors. We have been receiving multiple queries regarding the availability of suitable land from investors looking to further expand their apparel manufacturing plants in Sri Lanka since many of them have seen an increase in orders.”
The BOI has thus far signed agreements worth US$76 million for both new investments and expansions in the apparel sector in 2022. The total pipeline – together with pending approvals for investments and expansions in apparel – currently stands at US$165 million.
Besides expanding apparel manufacturing facilities, some investors are also eyeing lucrative opportunities in raw material production and backward vertical integration in the Sri Lankan apparel industry.
On this front, the BOI has seen strong investor interest, especially in the Eravur Fabric Processing Zone. The zone is a significant initiative that aims to strengthen the Sri Lankan apparel sector’s backward vertical integration, enabling the industry to make greater use of preferential tariff concessions in its exports to the European Union (EU), its second-largest market, as well as reduce industry lead times.Recently, the BOI formally signed the agreement for the first FDI in Eravur, a $35 million investment by Jay Jay Mills Lanka, a supplier to globally-renowned infant apparel brands. Overall, the fabric processing zone is expected to attract significant FDI’s.
The infrastructure for the zone is now being constructed, including external roads and the provision of utilities such as power and water. The zone seeks to be a regional benchmark in sustainable manufacturing and is envisaged to create over 3000 direct and 5000 indirect job opportunities which would contribute towards the socio-economic development of the area.In line with increasing investor interest, the BOI has also significantly revamped its processes, making the investment process faster and more convenient for investors.
“We’ve strengthened our digitization efforts, to eventually make the processes completely paperless,” Weerakone explained. “We have introduced new features in our web portal to assist investors with a web-based “Partnership finder database” which will also assist investors in linking with potential partners. These include companies that are looking for funding partnerships or viable business opportunities, as well as innovative start-ups. We will also soon unveil a dedicated Investor Facilitation Centre.” (IFC) To enable the Investor Facilitation Centre to function effectively, during the last two years the BOI has signed agreements with 13 state agencies which will play a key role in the investment approval process. The BOI will be sending the investor’s application to these agencies and will be taking proactive action to expedite the approval process.
The digitization efforts of the BOI now enable investors to obtain a range of services online, without having to visit the BOI office. Such services include approvals from the Customs Department for capital goods imports, obtaining visas for investors, etc.
In addition, complementing such improvements in investment facilitation, the Sri Lankan apparel industry presents an attractive proposition. The industry has successfully built long-term partnerships with and catered to the world’s leading fashion brands for decades, built a strong reputation globally for ethical and sustainable business practices, and has developed capabilities in research and development (R&D), innovation, and product development, that far exceed that of many of its peers.
Business
Ceylinco Life celebrates its ‘Unstoppable Champions’ at Annual Awards 2026
The power of momentum was the focus when Ceylinco Life, Sri Lanka’s life insurance market leader for an unbroken 22 years, celebrated the exceptional achievements of its top-performing sales force at its Annual Awards Ceremony 2026, held at Cinnamon Life Colombo.
Bringing together more than 300 of the company’s highest achievers, the event recognised Sales Officers who attained High Flyers status, qualified for the prestigious Million Dollar Round Table (MDRT), or earned ‘Sales Superstar’ status in 2025, each having met rigorous performance benchmarks. In total, close to 370 awards were presented at the ceremony, which was attended by over 450 participants including the company’s Board of Directors and senior management.
Themed ‘Unstoppable Champions,’ the awards ceremony underscored the spirit of resilience, ambition and consistent excellence that defines Ceylinco Life’s sales force, positioning the awardees as drivers of the company’s sustained market leadership.
The event was graced by Chief Guest Srinivasa Rao, Managing Director – Life and Health (South Asia and South East Asia) at Munich Re, and featured an evening of scintillating entertainment with performances by Sanka Dineth, Shashika Nisansala, the Naadro Band and Prashanthini, complemented by dance acts from Muddrika Dance Studio.
Among the highlights of the evening was the presentation of two Toyota Axio motor cars to R. P. Edirisinghe and S. S. H. M. T. Laksiri in recognition of their consistent excellence in qualifying as High Flyers and MDRT members. The top honours at the awards ceremony were presented to Mr A. S. L. Fernando as Best Agency Head, H. D. Pathirana as Best Agency Supervisor, A. I. P. Manjula as Best Life Insurance Advisor, and J. Meera as Best Regional Sales Manager.
Business
Kia drives into Colombo’s skyline with landmark showroom at Altair
Top Korean nameplate Kia has reinforced its presence in Sri Lanka with the opening of a striking new showroom at the iconic Altair high-rise in Colombo, marking a significant step in the brand’s continued expansion and customer engagement in the country.
The new facility, unveiled exclusively to media on 7th April 2026, occupies approximately 2,700 square feet of prime space at Retail 3 of the Altair development.
Strategically positioned at the entrance to the complex for maximum visibility and accessibility, the showroom places Kia at the heart of one of Colombo’s most prominent luxury residential and lifestyle destinations.
Designed in line with Kia’s global brand guidelines, the showroom presents a modern, customer-centric environment that reflects the company’s focus on innovation, quality and service excellence. The space is intended to offer an immersive retail experience, enabling customers to explore the brand’s evolving portfolio in a setting that mirrors international standards.
“The opening of this new showroom signals Kia’s renewed commitment to Colombo, strengthening its proximity to customers while enhancing convenience and accessibility for those seeking to engage with the brand,” Kia Motors Lanka Chairman Mahen Thambiah said. “It represents a key milestone in our strategy to deepen customer relationships and expand the Kia footprint across key urban locations.”
Taking centre stage at the new showroom is the all-new Kia Tasman, the brand’s first-ever double cab pickup, which makes its debut in Sri Lanka in tandem with the opening. The introduction of the Tasman underscores Kia’s drive to diversify its offering and respond to the evolving demands of customers across multiple segments.
In addition to the Tasman, visitors to the Altair showroom can experience Kia’s full range of vehicles, further enhancing the brand’s appeal to a broad spectrum of automotive enthusiasts.
Business
Nalin Sri Tikiri Bandara: forging discipline and character through martial arts
After nearly three decades on the mat, Sri Lankan martial arts instructor H. M. Nalin Sri Tikiri Bandara has built a career that stretches from local dojos in Kandy to international training arenas in the United Arab Emirates, shaping a growing generation of students through what he describes as “a lifelong journey of discipline and self-development.”
With more than 28 years of experience, Bandara has emerged as a prominent figure in martial arts education for children, youth and adults, particularly across Sri Lanka and the UAE, where he is currently based in Abu Dhabi.
Bandara’s martial arts journey began at a young age and has since spanned multiple disciplines, including Kyokushin Karate, Ashihara Karate, Mumonkai Karate, Brazilian Jiu-Jitsu and yoga.
He holds several international dan rankings, including 3rd Dan in Kyokushin Karate (Japan), 4th Dan in Ashihara Karate (Australia), 2nd Dan in Mumonkai Karate (Japan), and 1st Dan under Josui Kai Kan Karate (Japan). Years of training camps, seminars and competitions abroad, he says, have helped refine both technical skill and teaching philosophy.
Bandara is the founder and chief instructor of Nalin Dojo, which operates across multiple locations, including a main branch in Abu Dhabi and an established centre in Kandy. He also runs expansion programmes in schools and fitness centres in the UAE.


Collectively, his programmes have trained more than 2,000 students, ranging from children as young as four to adults.
He also serves as branch chief and representative of the World Karate Alliance Kyokushin Bugakukai, and contributes to the development of full-contact karate at national level in Sri Lanka.
At the core of his teaching is a hybrid approach he calls “Yoga Martial Arts”, blending karate discipline, yoga-based mental conditioning, Brazilian Jiu-Jitsu principles and sports science.
The focus, he says, extends beyond physical combat to character formation, emphasising discipline, respect, confidence-building and mental resilience.
“Martial arts is not just about fighting, it is about building better human beings,” Bandara said.
Much of his work is directed at children and adolescents, particularly in an era he describes as increasingly dominated by digital distractions.
He argues that structured martial arts training can reduce screen dependency, improve concentration, and strengthen emotional stability, while promoting healthier lifestyles.
“Children’s future is the future of the community,” he said, underscoring his belief that early discipline shapes long-term social outcomes.
Beyond regular training, Bandara organises grading examinations, workshops, school programmes and community fitness initiatives in both Sri Lanka and the UAE.
He has continued such activities even during periods of global disruption, maintaining regular engagement with students and instructors.
Looking ahead, Bandara plans to expand his dojo network across the UAE and internationally, while developing structured youth development programmes and training future instructors.
His long-term ambition is to build a sustainable martial arts ecosystem that integrates physical excellence with character education.
In a career defined by discipline and continuity, Bandara represents a generation of martial arts instructors blending traditional combat systems with modern wellness principles — and, in the process, attempting to shape not just fighters, but future citizens.
by SK Samaranayake
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