Business
‘Tap expertise, not just capital’: A practical path for Sri Lanka’s economy
By Ifham Nizam
At a time when Sri Lanka continues to grapple with limited fiscal space and structural economic constraints, Gehan de Silva Wijeyeratne, a renowned naturalist who works in finance, is urging a shift in thinking—one that moves away from capital-heavy models and toward the strategic use of global expertise. Keeping his observations deliberately broad, de Silva Wijeyeratne frames Sri Lanka’s challenge in simple but candid terms: the country cannot afford to develop in the same way as wealthier nations, but it can still accelerate progress—if it learns how to access and use knowledge effectively.
“One of the big-picture things we need to do is improve how we find and use expertise,” he said. “If you look at countries like the United Arab Emirates and Singapore, they developed very quickly by buying in expertise and accelerating their progress. They didn’t develop everything on their own.” However, he is quick to point out the key difference. “They had the money to do it. They could afford to go out and buy expertise,” he said plainly. “But Sri Lanka doesn’t have that spending power.” This reality, de Silva Wijeyeratne notes, should not be seen purely as a limitation—but as a reason to think differently.
Sri Lanka’s economic condition makes it difficult to spend on paid foreign consultants, technical specialists, and large-scale advisory services. But according to de Silva Wijeyeratne, the global workscape has changed in ways that make expertise far more accessible than before.
He told The Island Financial Review: “We are in a world now where you can access some areas of expertise without necessarily paying for it in the traditional sense,” he said. “There are people who genuinely enjoy sharing knowledge and contributing, if you create the right work environment. We have to ensure that people who are willing to share their expertise can arrive in the country with their intentions clearly stated up-front and with an appropriate visa obtained quickly and easily so that they know that their visit is legitimate and one which is welcomed.’’
He referenced his article ‘A visa for bringing in expertise and expanding tourism’ published in The Island on Friday 23 May 2025. In this he proposes a special visa to address four strands, volunteering, internships, academic exchange and short term study. The idea is that the visa should be as easy as to obtain an online tourist visa, but the visitor can now apply for a longer term visa for a declared purpose such as volunteering. He was careful to emphasize that the proposed visa is not for paid work and does not give the visitor special rights and any relevant permits and permission need be obtained by the local partner. He suggests that Sri Lanka should begin to see itself less as a capital-constrained economy and more as a platform—one that can attract knowledge flows. “You don’t always need heavy investment upfront. You design a system that people want to engage with, and then value starts to build.” Countries like the United Arab Emirates and Singapore continue to use financial strength to import expertise. De Silva Wijeyeratne notes that Sri Lanka can use an un-paid model to attract expertise using a special visa as proposed to attract people who will be attracted to volunteer or work in Sri Lanka for free due to other reasons. In areas like biodiversity exploration and other nature-based academic work, foreign academics would love to partner with local academics if there was a simple and straightforward way for them to obtain a visa to do so and to arrive for periods for anything from 3 months to a year. As they will be on salaries paid by their academic employer overseas, it will not drain money out of Sri Lanka. On the contrary they will be long staying visitors who are bringing in money like any other tourist but additionally will also bring in knowledge. There are also many retired conservationists who are on a stable retirement income in G20 countries who would be happy to volunteer in projects in Sri Lanka. He notes that countries like India already have a visa for volunteering. “We can make Sri Lanka the go to country for people with expertise in nature who want to work in Sri Lanka on an unpaid basis because they are here to volunteer or work in partnership with local academics” he said. De Silva Wijeyeratne notes that this model will only work in sectors such as the academia or nature conservation where the day job is also a person’s passion. ‘”This will not work in every sector. We will not find a senior city person in finance, working in a voluntary role in a Sri Lankan financial institution. But in many nature-based areas of work, whether is to explore and discover new species of fungi or mosses or to train local naturalists who work in tourism, a special visa that facilitates this and can be obtained within a few minutes will enable Sri Lanka to tap into foreign expertise for free. The interaction with foreign collaborators will also open doors for Sri Lankan counterparts to be invited abroad to jointly present their work at conferences.
For Sri Lanka, the lesson is not to replicate any one model, but to adapt principles that fit its own constraints. “We need to recognise where we are and design accordingly,” he said. “We cannot copy-paste another country’s path. The proposed special visa idea which will also enable foreign interns to come to Sri Lanka for internships will also help grow the economy. For example, we have many large IT companies that develop software for companies in G20 economies. Foreign interns work in Sri Lanka will at a future date be middle or senior managers who may outsource work to Sri Lanka because they have the connections and trust the quality of work coming out of Sri Lanka. He also notes that when local companies engage with foreign interns through their universities, they may find themselves in a more structured programme which will make it easier for companies to also create places for local interns.
De Silva Wijeyeratne’s central argument is straightforward: Sri Lanka must focus on building systems that make it easy—and worthwhile—for experts to engage. “At the moment, we don’t have a clear way of connecting with global expertise,” he said. “Even when people are willing to help, there isn’t a structured mechanism to bring them in and make use of what they offer.”
He stresses that the issue is not a lack of goodwill or global interest, but a lack of organisation. “There is no shortage of people who are willing to contribute,” he said. “The problem is that we haven’t created the channels to absorb that contribution. De Silva Wijeyeratne also highlights the importance of creating a broader ecosystem where expertise translates into economic activity. “It’s not just about getting advice,” he said. “It’s about creating a market environment where that knowledge can lead to real outcomes—business opportunities, innovation, and growth.”
In his view, Sri Lanka must become more open to collaboration and more willing to act on external input. “If you create a system that works, people will come,” he said. “And when they come, they will add value.” While the idea of accessing free or low-cost expertise may sound idealistic, de Silva Wijeyeratne insists it is grounded in reality. “This is not theory,” he said. “We’ve already seen it happen in different sectors. People are willing to contribute, especially when they feel their input will make a difference.” At the same time, he acknowledges that Sri Lanka must improve its own internal capacity to benefit from such engagement.
Business
HNB partners IDEAL Motors to drive financial freedom through vehicle leasing solutions
HNB PLC, the leading private bank in Sri Lanka, has partnered with IDEAL Motors (Pvt) Limited to provide customers with attractive leasing solutions for brand-new vehicles & generators .
The partnership introduces a range of benefits designed to support individuals, entrepreneurs, and businesses seeking reliable vehicle and power solutions. Through this collaboration, customers can access structured lease facilities, special interest rates, free life insurance coverage, and attractive discounts through HNB General Insurance.
Commenting on the partnership, HNB, Senior Vice President/ Head of Retail Banking, Kanchana Karunagama, said, “At HNB, we believe that the right financial support can help people and businesses move forward with greater confidence. This partnership with IDEAL Motors shows our commitment to creating meaningful solutions that make vehicle and power investments more accessible, while helping our customers achieve their personal and business aspirations. By combining HNB’s financial expertise with IDEAL Motors’ industry capabilities, we are creating opportunities that support the ambitions of Sri Lankans and contribute towards a stronger, more connected economy.”
Customers purchasing vehicles through IDEAL Motors will also benefit from exclusive offers including free registration, and discounts on Bolero Maxx Pik-Up, Alfa Plus Load Carrier, Mahindra Pik-Up Single Cab, Mahindra Pik Up Double Cab, XUV 3XO vehicles, creating greater value throughout their ownership journey.
IDEAL Motors (Pvt) Limited, Director Legal and Corporate Affairs, Nimesha Welgama, said, “Our collaboration with HNB represents a shared commitment to supporting Sri Lankans in achieving greater financial independence through accessible ownership solutions. By combining IDEAL Motors’ mobility and power solutions with HNB’s financial expertise, we aim to empower individuals and businesses with opportunities that contribute to economic progress and community development. This partnership highlights our vision of creating lasting value by enabling customers to confidently invest in their future.”
With IDEAL Motors recognised for its diverse portfolio of automotive and power solutions, and HNB’s extensive expertise in financial services, the partnership aims to provide a seamless experience from selection to ownership, supported by flexible financing options and customer focused solutions.
The partnership further strengthens HNB’s commitment to supporting economic progress by providing financial solutions that enable customers to invest in personal mobility, commercial growth, and business continuity. Through collaborations with leading industry partners, HNB continues to expand opportunities for Sri Lankans while delivering a banking experience built around accessibility, trust, and value.
Business
Sri Lanka Insurance Corporation General and the Ministry of Education committed to protect Sri Lanka’s schoolchildren
Sri Lanka Insurance Corporation General Ltd (SLICGL) and the Ministry of Education, Higher Education and Vocational Education share a commitment to protect Sri Lanka’s children throughout their school education. The pledge is delivered through the Suraksha Student Insurance Scheme, which protects over 4 million school children.
The Government of Sri Lanka, through the Ministry of Education, Higher Education and Vocational Education, provides the Suraksha Student Insurance Scheme free of charge to schoolchildren throughout the country. SLICGL is proud to partner with the Ministry in delivering this national initiative, which helps safeguard students against the financial impact of unforeseen circumstances.
Eligible students include those aged 5-21 years in Grades 1-13 from government schools, government-approved private schools, and Pirivena education, as well as students aged 4-21 years in assisted special schools.
The scheme provides hospitalisation, outpatient and critical illness cover, as well as personal accident cover for permanent and temporary disability, together with a life insurance benefit for children from low-income families on the death of a parent. Cover applies to incidents within and outside school premises.
For a child, an illness or accident can be far more than a temporary setback. It can place added pressure on a family and, in some circumstances, disrupt schooling. Suraksha acts as a safety net, giving children and their families greater peace of mind and helping them stay in school despite life’s uncertainties. The scheme is easily accessible through SLICGL’s islandwide network of 200 branches and customer service centres.
Children’s Day is a celebration of hope, the hope for every child to have the opportunity to learn, grow and build a better future. Celebrating children also means protection, not for a single day but for every day they spend in the classroom.
Commemorating Children’s Day, SLICGL extended support towards the educational needs of children at an underprivileged school. The project highlighted the company’s belief in protecting the future not only by being supportive when the unexpected happens, but also in helping create an environment in which children can learn, grow and fulfil their potential.
As Sri Lanka’s National Insurer, SLICGL’s role goes further than protecting people against risk. It is also about contributing to a stronger, safer and more resilient country as children’s education, wellbeing and aspirations contribute directly to help build the journey ahead.
Business
Vietjet launches Hanoi to Prague route via Almaty, expanding to Central Asia and Europe
Vietjet, which already flies between Colombo and Ho Chi Minh City, has officially launched new services connecting Hanoi with Almaty, Kazakhstan, and Prague, Czech Republic, as well as Almaty with Prague, expanding its intercontinental network and marking its entry into the European Union. The new air links offer more affordable travel options while fostering greater tourism, trade and cultural exchange between Asia and Europe.
For Sri Lanka, the new routes widen the network that Vietjet is building out of Colombo. The airline has operated non-stop flights between Colombo and Ho Chi Minh City since August 2026, three times a week on Tuesdays, Thursdays and Saturdays, while its new Ho Chi Minh City to Maldives service via Colombo is scheduled to begin on 5 December 2026. With Hanoi now linked to Central Asia and Europe, Sri Lankan travellers have a growing choice of destinations reachable through Vietjet’s extensive network.
The inauguration ceremonies took place at Almaty International Airport and Václav Havel Airport Prague on 10 October, amid a warm welcome from local leaders, residents and visitors. The inaugural flights were greeted with traditional water cannon salutes and performances showcasing local cultural heritage, marking the beginning of new journeys connecting the three regions and welcoming international travellers to Vietnam. Passengers on the inaugural flights also received commemorative gifts from Vietjet and the airports, adding a special touch to their journeys.
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