Business
Quality of capital formation seen as key to economic growth
The quality of capital formation is critical for Sri Lanka’s economic growth trajectory and the next take-off would be nothing but investment because without investments the country can’t expect rapid economic growth, Labour Minister and Economic Development Deputy Minister Dr. Anil Jayantha Fernando said.
“The capital market is a vital platform for national development and scattered, insignificant capital throughout the country cannot make a big push for the economy. Therefore, we need to pull them together, and the stock market is the ideal platform for the market’s functioning. The public duty is to channel savings into productive investments that would enable us to achieve the target, Dr Fernando said recently at the launching of the Securities and Exchange Commission of Sri Lanka’s (SEC) comprehensive strategic roadmap aimed at transforming the nation’s capital market into a resilient, innovative and globally competitive hub.
Themed ‘12 Pillars One Vision for a Resilient Market’, the plan outlined a series of transformative projects designed to revitalise the economy, enhance investor confidence, and mobilise capital for long-term development.
Fernando urged regulators and industry players to lower entry barriers and attract grassroots savers, arguing that broader participation is key to boosting liquidity and efficiency. “If you really want robust capital formation and exponential growth, we need to bring them together to the capital market and close the gaps, the minister said.
SEC’s roadmap is structured around twelve key projects that address market infrastructure, product diversity, regulatory frameworks and investor engagement. The ambitious reform agenda is built to deliver three core outcomes over the next decade. “Over the next decade our strategy will be driven by twelve key developmental and regulatory priorities, Fernando said.
“Our ultimate goal is to build a dynamic and resilient market that fosters long term stability, ensuring sustainable prosperity for generations to come, SEC chairman Prof. Hareendra Dissabandara said at the launch.
He noted that the aim is to foster continuous innovation in the capital market to ensure its relevance and responsiveness to the evolving needs of the economy and investors; enhance infrastructure and services to be more efficient, accessible and reliable; and to develop a diverse market ecosystem that strengthens the competitiveness and resilience of overall capital market.
Secretary to the Ministry of Finance Dr. Harshana Suriyapperuma said that improved governance has contributed to stability, which had paved the way to achieve five percent GDP growth this year.
“Transformation effect created stability in the country which began the journey of heading to economic growth and this twelve pillar programme would be an impetus to that target, Suriapperuma said.
Key structural reforms include the demutualisation of the CSE, which will transition it from a member-owned entity to a company limited by shares to enhance governance and efficiency. Another cornerstone is the implementation of a Central Counterparty (CCP) mechanism, which went live in August 2025, to guarantee trade settlements and reduce counterparty risk, thereby strengthening market stability.
By Hiran H.Senewiratne
Business
DevPro and WCIC come together to accelerate women’s economic empowerment in Sri Lanka
DevPro and Women’s Chamber of Industry and Commerce (WCIC) signed a formal partnership on Wednesday, 28th January to collaborate in promoting women’s economic empowerment and inclusion in Sri Lanka.
DevPro builds on 30 years of OXFAMs legacy in Sri Lanka and works towards Inclusive Economic Development leveraging expertise in inclusive and climate-resilient market systems and enterprise development and innovation. DevPro’s work is guided by the core values of gender justice, inclusivity and community-led development. Through its recent projects, DevPro has supported over 270 women-led MSMEs, across agriculture, handloom, and tourism-related value chains in five provinces in Sri Lanka through a mix of interventions combining skills development, enterprise strengthening, market linkages, and gender-sensitive community engagement to improve income, resilience, and economic participation.
WCIC is the first women-only trade chamber in the world, dedicated to empowering women entrepreneurs and women-led MSMEs in Sri Lanka through skills-building, business advisory services, networking etc. Among its many initiatives, WCIC’s flagship annual event, “Prathibhabhisheka” – Women’s Entrepreneurs Awards has empowered many women owned and women-led businesses in Sri Lanka to enhance their business resilience and competitiveness through improved governance processes, financial health, market recognition and global expansion.
Through this partnership, both DevPro and WCIC, will leverage their collective expertise, networks and resources to advance women’s economic empowerment and inclusion through projects, capacity building, research and policy advocacy focused on women entrepreneurship development, innovative business models, sustainability certification and credentials, export readiness and market integration and financial literacy and inclusion.
The MoU was signed by Gayani de Alwis, Chairperson of WCIC and Chamindry Saparamadu, Executive Director of DevPro in the presence of senior members of both teams.
Business
FRELLA launches world class wellness products locally with Baurs & Co.
FRELLA, Sri Lankan-born and internationally-respected natural beauty and wellness brand, is setting the stage to expand operations by entering the Sri Lankan retail market. As the country’s only dedicated wellness company operating at an international scale, this move marks a new chapter for a brand with a growing global presence that has already earned the trust of luxury hotels and international customers.
For over seven years, FRELLA has emerged as Sri Lanka’s leading wellness brand, serving clients and partners across more than 15 international markets. The brand’s entry into the Sri Lankan retail market marks a significant milestone, allowing local consumers to access globally respected wellness products developed from the island’s own healing traditions. This retail expansion is supported through a strategic partnership with Baurs, a trusted 170-year-old Swedish multinational company, ensuring sophisticated distribution and access aligned with international retail standards.
FRELLA is rooted in Sri Lanka’s ancient healing traditions and inspired by centuries-old Ayurvedic wisdom. All FRELLA products are specially designed as holistic wellness solutions for the body, skin, hair, and soul, and focuses on providing nourishment, balance, and healthy aging through refined, modern wellness systems.
Business
Writer Business Services enters Sri Lanka to partner with institutions to provide information management and payments solutions
Writer Corporation, one of India’s leading business groups, announced the launch of its subsidiary, Writer Business Services Pvt. Ltd., and the commencement of its operations in Sri Lanka. The expansion reflects Sri Lanka’s strategic importance in Writer’s regional growth plans and its role in supporting a highly regulated digital and financial services market which is currently undergoing digital transformation.
Sri Lanka’s continued focus on strengthening regulatory frameworks, digital platforms, and financial systems is shaping how institutions across banking, government, and enterprise sectors approach their business operations. There is a clear emphasis on secure, compliant, and resilient information and transaction environments that can scale with regulatory and business needs. Writer’s entry into Sri Lanka aligns with this direction, bringing global experience and a partnership-led approach to the market.
As part of its launch, Writer will establish a secure records and information storage facility in Seeduwa, Colombo. Designed to meet global standards for security, compliance, and disaster resilience, the facility will support banks, financial institutions, government bodies, and large enterprises in managing physical and digital information across its lifecycle.
Alongside information management, Writer brings established expertise in integrated payment services to support the modernization of transaction infrastructure across the banking and financial services sector. Its payments capabilities focus on strengthening availability, transaction continuity, and transparency across critical payment channels that underpin institutional reliability and customer confidence.
Writer’s digital payments offerings in Sri Lanka include end-to-end ATM and self-service terminal outsourcing, integrated channel ownership and managed services, field management applications, payment and reconciliation platforms, and remote monitoring with near real-time reporting. These solutions support financial institutions in improving uptime, strengthening governance, and enhancing operational efficiency across payment networks, in line with the continued evolution of electronic and automated payment systems.
Across information management and payments, Writer operates with an integrated portfolio spanning records and information management, business process outsourcing, cloud and digital services, data privacy, cybersecurity and enterprise payments infrastructure. These capabilities support institutions in addressing evolving regulatory requirements, digitization of legacy environments, and rising operational and cyber risks.
Writer’s local presence enables closer collaboration with clients and on-ground delivery, while supporting the development of Centres of Excellence across cybersecurity operations, SOC and NOC services, AI-led solutions, and payments operations and monitoring.
Writer’s Sri Lanka operations will be built, led, and run by Sri Lankan professionals, reflecting a long-term commitment to local talent growth and development.
Commenting on this development, Satyamohan Yanambaka, CEO, Writer Global Services Pvt. Ltd., assured Writer’s long-term commitment to the country’s digital ambitions. He said, “Writer’s entry into Sri Lanka reflects our belief that digital ambition in regulated environments must be supported by trust, sound governance, and strong execution. As institutions scale digital services, the reliability of information and payment systems, channel operations, and governance frameworks becomes increasingly important to public and institutional confidence. Our experience across information management, digital transformation, and enterprise payments enables us to support secure, large-scale financial ecosystems, with a clear commitment to building and leading these capabilities locally.”
Sri Lanka’s Digital Personal Data Protection framework raises expectations around how personal and sensitive information is secured and governed.
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