Business
‘SL’s minerals sector is a big one but the govt. has made it a puny one’
By Hiran H. Senewiratne
Sri Lanka’s minerals sector is a big one but the government has made it a small sector. But it has a huge potential to become one of the country’s major foreign exchange earners. Industry officials were in broad agreement on these points recently at the inauguration in Colombo of the Chamber of Mineral Exporters.
“The mineral sand export industry currently generates around US$ 65 million a year but if we really focus on this sector that amount could be increased to US $ 120 million. Lack of a mineral policy and the non-implementation of a proper survey by any authority on this sector, resulted in the country losing potential export revenue from this area, F. A Farook, Vice Chairman of the CME said.
Farook added: “The practice of giving 12-month mining permits compared to those of 10 to 15 years, as in Australia, would make investors run away. This was a regulatory hurdle that had to be rectified fast.
“Our permits are generally valid for one year. We’ve all been in this sector for the last twenty plus years, so we have some experience on how to get things done, so we will stay.
“But if you are to attract somebody else to come from outside, they will not come.”
CME chairman Amila Jayasinghe said: “As soon as they hear that the mining or environmental license lasts only one year, and that there is a requirement to renew them each year, they will run away, because that is too much of a risk for an investor.
“There should be a proper mineral sands policy and the government should take steps to develop a thrust industry and provide permits for more than one year.
“There is no country in the world with a permit of one year validity. Usually, it is valid for 10 to 15 years. That is something that has to be rectified very soon to attract foreign investments.
“The Australian High Commissioner had recently mentioned that there were companies that were willing to invest but that the investment environment here was not conducive.
“Mineral firms had to deal with a minimum of eight separate state agencies to function on a day-to-day basis. For 15 years Sri Lanka had been talking about a ‘one stop shop’ for approvals, but it has not yet happened.
“There has to be transparency and clarity in how decisions are made, since there are a large number of government agencies involved.
“There should be a level playing field for all and processes should not be made easy for one or two people.
“It was not the availability of raw materials but the accessibility of raw materials that is the key constraint.”
CME Secretary Dr. Sandun Dalpatadu said: “The industry is willing to comply with environmental regulations. Foreign buyers also require mineral extraction to be sustainable. In some cases land had to be restored to the original condition, or if areas are deforested, other areas have to be forested.
“Mining also affects communities and firms and it is a sensitive subject. There are resources in land owned by state agencies for which mineral rights have to be streamlined with a collaborative initiative to generate jobs and also increase exports.”
“In addition to issuing what was probably the shortest duration mining permit in the world, Sri Lanka was probably charging the highest royalty, which was levied as a value added tax at the point of export instead of being imposed on the pit head cost, Chamber sources said.
Business
Asia-Pacific business leaders to accelerate sustainable business action
More than 200 senior business leaders, policymakers, investors, sustainability practitioners and United Nations representatives convened in Colombo on 11–12 August for Forward Faster Now | APAC 2026: Driving Business Leadership for Sustainable and Inclusive Growth—the United Nations Global Compact’s flagship regional forum in Asia-Pacific.
Hosted by UN Global Compact Network Sri Lanka and organized by the UN Global Compact APAC Hub in collaboration with 14 Global Compact Country Networks, the forum strengthened regional collaboration and demonstrated the growing role of business leadership in advancing sustainable and inclusive growth across Asia-Pacific.
More than 80 high-level speakers from across the region contributed to the two-day programme, bringing together expertise from business, finance, government, the United Nations and civil society. The forum also convened an exceptional audience of CEOs, C-Suite, Board Directors, Heads of UN agencies and senior decision-makers, creating one of the region’s most significant platforms for cross-sector dialogue on sustainable business.
Across plenary dialogues, leadership panels and action-oriented workshops, participants explored the issues shaping the future of business in Asia-Pacific, including climate action, sustainable finance, gender equality, resilient supply chains, water stewardship, governance and integrity, digital innovation, human rights due diligence, circular economy solutions and ESG data for decision-making. Rather than focusing solely on ambition, Forward Faster Now challenged businesses to move from broad sustainability goals to target setting, practical decisions, stronger systems and action that can deliver progress at scale.
A defining milestone of the forum was the visit of Sanda Ojiambo, Assistant Secretary-General, CEO and Executive Director of the UN Global Compact. Her presence in Sri Lanka underscored the country’s growing role within the regional sustainability agenda and reinforced the importance of private sector leadership in delivering the Sustainable Development Goals.
Beyond the public programme, her visit included a series of bilateral engagements and strategic convenings with business and institutional leaders, deepening relationships and opening new avenues for engagement between the UN Global Compact and stakeholders in Sri Lanka.
The event also marked the launch of three significant initiatives by UN Global Compact Network Sri Lanka that will extend the impact of the convening well beyond the event itself. The Responsible Business Coalition was introduced as a new partnership to embed sustainability, and strengthen governance by bringing together Sri Lanka’s leading professional and industry associations to embed the Ten Principles of the UN Global Compact into their existing convening, training and thought-leadership channels, moving responsible business from a standalone function to a shared C-Suite and Board responsibility.
Business
Sri Lanka Insurance Corporation General celebrates ‘One Team, One Vision’ sales excellence at Annual Awards 2025
The Sri Lanka Insurance Corporation General Ltd. (SLICGL) team gathered to honour its top-performing sales professionals at the Annual Sales Awards 2025, held under the theme ‘One Team, One Vision’ on 20th August at the Monarch Imperial.
The evening convened sales leaders and high achievers throughout the island to celebrate a year of sustained performance, customer trust, and commitment which has kept SLICGL at the forefront of Sri Lanka’s general insurance sector.
Affirming SLICGL’s appreciation for the people driving success on the ground, the Sales Awards 2025 recognised those who went beyond targets, deepened client relationships, and contributed directly to the company’s continued expansion.
The event drew an unprecedented audience of over 700 participants. This year’s celebrations recognised a record number of winners, more than double the achievements honoured last year covering a diverse range of award categories reflecting excellence at every level of the business.
Nusith Kumaratunga, Chairman, Sri Lanka Insurance Corporation graced the event as the Chief Guest together with the Board of Directors and senior management of SLICGL also present as invited guests, encouraging and commending the winners for their outstanding achievements.
The award winners at this year’s ceremony included Insurance Advisors, Marketing Executives, Branch Managers, Regional Managers, and members of the Head Office Sales Channels, who were recognised and celebrated for their outstanding achievements in multiple categories.
Business
Sri Lanka to host SEARIC Summit 2026 for the first time, welcoming over 500 youth leaders from across South East Asia
Sri Lanka is set to host the SEARIC Summit 2026 from 11 to 13 September 2026 at the Pegasus Reef Hotel, marking the first time the country will host the flagship regional gathering of the South East Asia Rotaract Information Centre (SEARIC).
Hosted by Rotaract in Rotary International District 3220 (RID 3220) – Sri Lanka & Maldives, the three-day summit is expected to bring together more than 500 delegates from six countries, creating a regional platform for leadership development, knowledge exchange, cultural understanding and collaboration among young leaders. The South-East Asia Rotaract Information Centre (SEARIC) serves as a regional platform connecting Rotaract districts across South East Asia. It facilitates collaboration, information exchange, cultural understanding and joint initiatives among Rotaractors across the region. The annual SEARIC Summit serves as the network’s flagship gathering, bringing together Rotaractors and Rotarians from participating countries for shared learning, fellowship, cultural exchange and collective growth.
Under the theme “The Role of Technology in the Future of Careers and Services,” SEARIC Summit Sri Lanka 2026 will explore the rapidly changing relationship between technology, careers, leadership and community service. As emerging technologies continue to transform industries and the way people work, the summit will provide a platform for young leaders to examine how technology can be used not only to prepare for the future of work, but also to strengthen the way communities are served. Across three days, delegates will participate in leadership and professional development sessions, discussions, cultural experiences, networking opportunities and community-focused programming, with the central theme reflected throughout the summit programme.
Beyond the Rotaract movement, the event also contributes to Sri Lanka’s broader positioning as a destination for international conferences, youth leadership programmes and regional collaboration. With hundreds of international delegates travelling to the country, the summit provides an opportunity to showcase Sri Lanka’s hospitality, culture and potential as a host destination for future international gatherings. The event further creates a platform for young leaders from across South East Asia to connect with Sri Lankan counterparts, exchange ideas and explore opportunities for cross-border collaboration.
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