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Sri Lanka’s global business network demands streamlined investor pathway to unlock FDI

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GFSLBC briefs the media in Colombo, on August 7, 2025, to create public awareness about inertia on the part of policymakers to use their voluntary services to bring in foreign investments to support the economic growth in Sri Lanka. General Secretary Sajeev Rajaputhra (centre) leads the headtable

“We can bridge the gap, but government must act,” they say

The Global Federation of Sri Lankan Business Councils (GFSLBC), an umbrella body uniting Sri Lankan business leaders across 15 countries, has called for an urgent, structured mechanism to facilitate foreign investment into Sri Lanka – warning that bureaucratic inertia risks derailing high-value economic opportunities.

The appeal follows the Federation’s Annual General Meeting (AGM), attended by President Anura Kumara Dissanayake, cabinet ministers, and state officials. Despite initial dialogue at a superficial level , members express frustration over the lack of concrete action to leverage their global investor network.

Speaking to media post-AGM, GFSLBC Secretary General Sajeev Rajaputhra underscored the Federation’s unique position:

60% of members are established entrepreneurs in key markets (Singapore, Malaysia, Japan, UAE, Europe, China, Australia, and New Zealand).

40% specialise in the automotive sector, with deep cross-industry investor ties.

“We’ve spent years building global B2B connections. The government would take decades to replicate this network – yet our offers to fast-track FDI remain unanswered,”* Rajaputhra said.

The Federation seeks a mandate to serve as a liaison between global investors and Sri Lankan policymakers, ensuring a seamless pathway for approvals, licensing, and land acquisition. “Investors won’t tolerate being sent from pillar to post. Without a clear mechanism, even the keenest will walk away,” Rajaputhra added.

Missed Opportunities

Nishantha Ariyawansa, Vice President of the Sri Lankan Business Association of New Zealand, cited a lost dairy export deal as emblematic of the challenge: ” A New Zealand entrepreneur proposed exporting bottled Highland sterilized milk- which would have been a reversal of the typical trade flow. But the million dollar opportunity stalled after the 2024 government transition, with no authority to revive discussions. This was a rare chance to turn Sri Lanka into a dairy exporter to New Zealand. Unfortunately, it’s stuck in limbo,” Ariyawansa noted.

“In another instance, a New Zealand-based investor recently abandoned plans to establish a pig-feed manufacturing facility in Sri Lanka, citing a lack of policy support and bureaucratic engagement. The proposed project aimed to convert fish offcuts – a largely wasted byproduct of the fishing industry – into high-nutrient animal feed, creating both economic and environmental value. The Sri Lankan entrepreneur facilitating the investment expressed frustration over the absence of a clear approval process or dedicated authority to advance feasibility discussions. Despite the project’s potential to reduce waste, boost local aquaculture, and generate export revenue, the investor withdrew due to inaction from relevant Sri Lankan institutions,” Ariyawansa added.

These cases highlight a recurring challenge for foreign investments in Sri Lanka: promising ventures often stall due to unclear policies, coordination gaps, and sluggish bureaucratic responses. Without structured mechanisms to evaluate and fast-track viable projects, the country risks losing out on job creation, technology transfer, and sustainable industrial development.

Considering this, the GFSLBC urges the government to:

Appoint a dedicated investment task force to streamline approvals.

Re-engage stalled proposals (like the dairy venture) under the current administration’s policies.

Establish direct dialogue with President Anura Kumara Dissanayake to align diaspora resources with national goals.

“Sri Lanka is ripe for investment, but bureaucracy and indecisiveness must not choke its potential,” Rajaputhra asserted. “We stand ready to help – but the government must meet us halfway.”

As Sri Lanka charts its economic recovery, the GFSLBC’s message is clear: Unlocking FDI requires more than intent – it demands one-on-one meetings and institutional agility.

By Sanath Nanayakkare ✍️



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Dialog delivers strong growth, stronger national contribution in FY 2025

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Dialog Axiata PLC announced, Friday 6th February 2026, its consolidated financial results (Reviewed) for the year ended 31st December 2025. Financial results included those of Dialog Axiata PLC (the “Company”) and of the Dialog Axiata Group (the “Group”).

Group Performance

The Group delivered a strong performance across Mobile, Fixed Line and Digital Pay Television businesses recording a positive Core Revenue growth of 16% Year to Date (“YTD”). Group Headline Revenue reached Rs179.6Bn, up 5% YTD, despite the continued strategic scaling down of low-margin international wholesale business. In Q4 2025, Revenue was recorded at Rs46.5Bn up 2% Quarter-on-Quarter (“QoQ”) and 2% Year-on-Year (“YoY”).

The Group Earnings Before Interest, Tax, Depreciation and Amortisation (“EBITDA”) reached Rs86.0Bn up 30% YTD supported by Core Revenue performance and Cost Rescaling Initiatives. On a QoQ basis Group EBITDA demonstrated a modest growth to record at Rs23.0Bn up 2% QoQ with an EBITDA margin of 49.5% in line with the Revenue performance. Group EBITDA margin reached 47.9% for FY 2025, up 9.2pp.

Group Net Profit After Tax (“NPAT”) reached Rs20.8Bn for FY 2025, up 67% YTD mainly resulting from robust EBITDA growth, despite higher tax and net finance costs. Normalized for forex impact, NPAT growth was recorded at +>100% YTD to reach Rs22.1Bn. On a QoQ basis NPAT grew 3% to reach Rs5.9Bn resulting from strong EBITDA performance.

On the back of strong operational performance, the Group recorded Operating Free Cash Flow (“OFCF”)

of Rs49.3Bn for FY 2025 up >100% YTD.

Dividend Payment to Shareholders

In line with the dividend policy and financial performance of the Group and taking into account the forward investment requirements to serve the nation’s demand for Broadband and Digital services, the Board of Directors of Dialog Axiata PLC at its meeting held on 6th February 2026, resolved to propose for consideration by the Shareholders of the Company, a dividend to ordinary shareholders amounting to Rs1.50 per share. The said dividend, if approved by shareholders, would translate to a Dividend Yield of 5.0% based on share closing price for FY 2025. The dividend so proposed will be considered for approval by the shareholders at the Annual General Meeting (AGM) of the Company, the date pertaining to which would be notified in due course.

Company and Subsidiary Performance

At an entity level, Dialog Axiata PLC (the “Company”) continued to be the primary contributor to Group Revenue (76%) and Group EBITDA (74%). Aided by sustained growth in the Data segment and cost-rescaling initiatives, Company revenue was recorded at Rs135.8Bn for FY 2025, up 18% YTD, EBITDA rose 32% YTD to reach Rs63.6Bn. On a QoQ basis, Q4 2025 Revenue was recorded at Rs34.8Bn, down 1% QoQ due to a reclassification of Hubbing Revenue, while EBITDA decline 1% QoQ to record Rs17.0Bn, largely attributable to network restoration costs and donations made in relation to the Cyclone Ditwah relief efforts. Furthermore, NPAT was recorded at Rs15.6Bn for FY 2025, up 41% YTD. Normalised for forex impacts, the company NPAT was up +>100% YTD to reach Rs17.0Bn. On a QoQ basis, Company NPAT was recorded at Rs4.5Bn, down 6% QoQ.

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Ceylinco Life’s Pranama Scholarships reach 25-year milestone

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Ceylinco Life has announced the launch of the 25th consecutive edition of its flagship Pranama Scholarships programme, marking a significant milestone in the company’s long-standing commitment to recognising and rewarding excellence among the children of its policyholders.

Under the 2026 programme, the life insurance market leader will present scholarships with a total cumulative value of Rs. 22.7 million, continuing a rewards initiative that has now been conducted without interruption for a quarter of a century. Since its inception, the Ceylinco Life Pranama Scholarships programme has benefitted 3,466 students across the country, representing a total investment of Rs. 240 million in nurturing academic achievement and outstanding performance in sports, arts and other extracurricular pursuits.

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Sri Lankans’ artistic genius glowingly manifests at Kala Pola ‘26

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The spirit of Sri Lanka as it was ably captured by an artist.

The artistic genius of Sri Lankans was amply manifest all over again at ‘Kala Pola ‘26’ which was held on February 8th at Ananda Coomaraswamy Mawatha Colombo 7; the usual, teeming and colourful venue for this annual grand exhibition and celebration of the work of local visual artists.

If there is one thing that has flourished memorably and resplendently in Sri Lanka over the centuries it is the artistic capability or genius of its people. It is something that all Sri Lankans could feel a sense of elation over because from the viewpoint of the arts, Sri Lanka is second to no other nation. With regard to the visual arts a veritable dazzling radiance of this inborn and persisting capability is seen at the annual open air ‘Kala Pola’.

A bird of Sri Lanka created from scraps of iron waste.

All capable visual artists, wherever they hail from in Sri Lanka, enjoy the opportunity of exhibiting their work at the ‘Kala Pola’ and this is a distinctive ‘positive’ of this annual event that draws numberless artists and viewers. There was an abundance of paintings, sketches and sculptures, for instance, and one work was as good as the other. Ample and equal space was afforded each artist. Its widely participatory and open nature enables one to describe the exhibition as exuding a profoundly democratic ethos.

Accordingly, this time around at ‘Kala Pola ‘26’ too Sri Lankans’ creative efforts were there to be viewed, studied and enjoyed in the customary carnival atmosphere where connoisseurs, local and foreign, met in a sprit of camaraderie and good cheer. Many thanks are owed once again to the George Keyt Foundation for the presentation of the event in association with the John Keells Group and the John Keells Foundation, not forgetting the Nations Trust Bank, which was the event’s Official Banking Partner. The exhibition was officially declared open by Chief Guest Marc-Andre Franche, UN Resident Coordinator in Sri Lanka.

By Lynn Ockersz

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