Business
A roadmap to doubling GDP and reaching $12,000 Per Capita Income by 2030
By. Lalin I De Silva
Sri Lanka’s economic crisis, exemplified by a stagnant GDP of $80 billion and recent bankruptcy, demands urgent and effective reforms. With the upcoming presidential election featuring 38 candidates, none have outlined specific plans to double the GDP to $160 billion and achieve a per capita income of $12,000 by 2030. This article highlights the importance of these goals and provides a clear, actionable roadmap for achieving them. Essential strategies include harnessing digital technologies, investing in infrastructure, promoting key industries, and enhancing fiscal and job creation policies.
GDP per capita is a vital metric for assessing economic performance and well-being. It measures the average economic output per person and is crucial for both national and international comparisons. To improve living standards and ensure sustainable growth, increasing GDP per capita is imperative. This article provides a clear path for presidential candidates to address and achieve these economic objectives.
Benefits and Strategies for Increasing GDP Per Capita
Standard of Living Improvement
Benefit: Higher GDP per capita means improved living standards.
Action: Increase investment in education, healthcare, and infrastructure to boost economic productivity.
Economic Growth Tracking
Benefit: Measures whether economic growth translates into individual benefits.
Action: Implement policies that encourage innovation and support entrepreneurship to enhance productivity.
Global Comparisons
Benefit: Allows Sri Lanka to benchmark against other nations.
Action: Improve global competitiveness through trade agreements and technological advancements.
Addressing Income Inequality
Benefit: Provides a starting point for improving income distribution.
Action: Implement progressive taxation and expand social safety nets.
Development Goals
Benefit: Sets benchmarks for poverty reduction and growth.
Action: Focus on human capital development and inclusive economic policies.
Efficient Resource Allocation
Benefit: Ensures effective public spending.
Action: Reduce corruption and enhance efficiency in public expenditure.
Enhanced Social Programs
Benefit: Tailors social welfare to improve living standards.
Action: Expand access to essential services and support economic participation.
Education and Healthcare Investment
Benefit: Supports long-term economic growth.
Action: Prioritize these sectors in national budgets for sustainable development.
Infrastructure Development
Benefit: Supports economic activities and job creation.
Action: Invest in high-quality infrastructure projects.
Fiscal and Monetary Policies
Benefit: Ensures economic stability and efficient public spending.
Action: Reform tax systems and manage inflation effectively.
Sri Lanka’s economic stagnation requires immediate and focused action. Doubling the GDP to $160 billion and achieving a per capita income of $12,000 by 2030 is an ambitious but attainable goal. By prioritizing digital transformation, infrastructure development, and key industry promotion, the country can set a course for sustainable economic growth and stability.
Action Plan
Digital Transformation: Invest in technology and digital infrastructure to boost productivity and global competitiveness.
Infrastructure Development: Focus on critical infrastructure projects to support economic activities and create jobs.
Industry Promotion: Target high-growth sectors such as technology, healthcare, and green energy.
Fiscal Responsibility: Implement reforms to improve tax collection, reduce corruption, and manage public finances effectively.
Job Creation and Skills Development: Invest in education and vocational training to equip the workforce for emerging industries.
Regional Investment: Address disparities by targeting investments in underdeveloped areas.
Foreign Investment Attraction: Foster a favorable business environment to attract and retain foreign investors.
Innovation Support: Promote research and development to drive technological advancements and economic diversification.
Social Programs Enhancement: Improve and expand social welfare programs to support vulnerable populations.
Suggested References
International Monetary Fund (IMF) – Reports on economic growth and policy recommendations.
World Bank – Data and analysis on GDP per capita and economic development.
OECD – Research on education, innovation, and economic policy.
Sri Lankan Ministry of Finance – National economic plans and strategies.
Harvard Business Review – Articles on digital transformation and infrastructure investment.
Economic Development Board of Sri Lanka – Insights on key industries and investment opportunities.
By adopting these strategies, Sri Lanka can achieve its economic goals, improve living standards, and secure a prosperous future for all its citizens.
Lalin I De Silva, former Senior Planter, Agricultural Advisor / Consultant, Secretary General of Ceylon Planters Society, Editor of Ceylon Planters Society Bulletin and freelance journalist.
Business
Sri Lanka Customs exceeds revenue targets to enters 2026 with a surplus of Rs. 300 billion – Director General
The year 2025 has been recorded as the highest revenue-earning year in the history of Sri Lanka Customs, stated Director General of Sri Lanka Customs, Mr. S.P. Arukgoda, noting that the Department had surpassed its expected revenue target of Rs. 2,115 billion, enabling it to enter 2026 with an additional surplus of approximately Rs. 300 billion.
The Director General made these remarks at a discussion held on Tuesday (30) morning at the Sri Lanka Customs Auditorium, chaired by President Anura Kumara Dissanayake.
The President visited the Sri Lanka Customs Department this to review the performance achieved in 2025 and to scrutinize the new plans proposed for 2026. During the visit, the President engaged in extensive discussions with the Director General, Directors and senior officials of the Department.
Commending the vital role played by Sri Lanka Customs in generating much-needed state revenue and contributing to economic and social stability, the President expressed his appreciation to the entire Customs employees for their commitment and service.
Emphasizing that Sri Lanka Customs is one of the country’s key revenue-generating institutions, the President highlighted the importance of maintaining operations in an efficient, transparent and accountable manner. The President also called upon all officers to work collectively, with renewed plans and strategies, to lead the country towards economic success in 2026.
The President further stressed that the economic collapse in 2022 was largely due to the government’s inability at the time to generate sufficient rupee revenue and secure adequate foreign exchange. He pointed out that the government has successfully restored economic stability by achieving revenue targets, a capability that has also been vital in addressing recent disaster situations.
A comprehensive discussion was also held on the overall performance and progress of Sri Lanka Customs in 2025, as well as the new strategic plans for 2026, with several new ideas and proposals being presented.
Sri Lanka Customs currently operates under four main pillars, revenue collection, trade facilitation, social protection and institutional development. The President inquired into the progress achieved under each of these areas.
It was revealed that the Internal Affairs Unit, established to prevent corruption and promote an ethical institutional culture, is functioning effectively.
The President also sought updates on measures taken to address long-standing allegations related to congestion, delays and corruption in Customs operations, as well as on plans to modernize cargo inspection systems.
The discussion further covered Sri Lanka Customs’ digitalization programme planned for 2026, along with issues related to recruitment, promotions, training and salaries and allowances of the staff.
Highlighting the strategic importance of airports in preventing attempts to create instability within the country, the President underscored the necessity for Sri Lanka Customs to operate with a comprehensive awareness of its duty to uphold the stability of the State, while also being ready to face upcoming challenges.
The discussion was attended by Minister of Labour and Deputy Minister of Finance and Planning, Dr. Anil Jayanta Fernando, Deputy Minister of Economic Development, Nishantha Jayaweera, Secretary to the President, Dr. Nandika Sanath Kumanayake, Deputy Secretary to the Treasury, A.N.Hapugala, Director General of Sri Lanka Customs, S.P.Arukgoda, members of the Board of Directors and senior officials of the Department.
Business
Construction industry offers blueprint for Sri Lanka’s recovery
The dawn of 2026 represents a time for critical recalibration, not just ceremony, for the nation’s vital construction sector, says Eng Nissanka N Wijeratne, Secretary General/CEO of the Chamber of Construction Industry (CCI).
In a New Year message, Wijeratne reframes the annual greeting as a strategic call to action. “For Sri Lanka’s construction industry – the true backbone of our economy – the turning of the calendar is an ideal moment for a realistic and forward-looking assessment,” he states.
His vision sketches a practical blueprint where the unprecedented challenges of the recent past become the foundation for a smarter, more sustainable future.
The industry, long considered a barometer of national prosperity, has weathered severe headwinds: economic volatility and spiraling material costs. “These were not mere business cycles, but unprecedented tests,” Wijeratne notes, acknowledging the severe strain on firms and professionals. Yet, the sector’s response, he observes, has been “nothing short of remarkable,” showcasing a deeply ingrained resilience.
The Chamber’s chosen theme for the year, “Resilience through Innovation,” signals a pivotal shift from enduring hardship to actively engineering progress.
The pathway forward, Wijeratne outlines, is built on three interdependent pillars.
First is the revitalization of Infrastructure. “This is not a simple call for new projects,” he clarifies, “but a strategic push to reactivate stalled ventures and initiate sustainable developments in concert with the government and international agencies.” He emphasises that construction activity is intrinsically linked to the broader economy’s pulse, where resuming projects catalyses employment, energises supply chains, and restores public confidence.
The second pillar, technological Integration, addresses the urgent need to modernise the sector’s core. Advocacy for Building Information Modeling (BIM), green building practices, and digital project management is a direct answer to past inefficiencies. “It is a commitment to ensuring Sri Lankan construction is not just rebuilt, but upgraded becoming more competitive, cost-effective, and environmentally responsible,” Wijeratne says. ” Innovation must move from slogan to practice, transforming how the nation conceives, builds, and maintains its infrastructure,” he notes.
The third pillar, consistent policy advocacy, underpins all efforts. The Chamber positions itself as a vital intermediary, fighting for fair pricing mechanisms, streamlined regulations, and a protective framework for local contractors. Wijeratne stresses that the best-laid plans of engineers can falter without a conducive policy environment, calling for a strengthened partnership with the state to create a level playing field where skill and enterprise determine success.
Ultimately, Wijeratne’s message is a powerful reminder of the industry’s profound legacy. “When we build, the nation grows,” he states, elevating construction from a commercial activity to a national mission. The structures that rise from the ground are more than concrete and steel; they are the schools, hospitals, roads, and homes that shape the nation’s future.
As Sri Lanka steps into 2026, the construction industry’s message is clear: it is ready to transform resilience from a trait of survival into a dynamic force for innovation.
The past challenges, according to Wijeratne, have been met with grit. Now, the future must be built with vision.
By Sanath Nanayakkare
Business
Expo Commodities and STAY Naturals honoured at the Presidential Export Awards 2024/25
Expo Commodities (Pvt) Ltd, together with its member company STAY Naturals (Pvt) Ltd, has been recognized with Merit Awards at the Sri Lanka Export Development Board (EDB) Presidential Export Awards 2024/25, one of the country’s most prestigious platforms celebrating export excellence.
The awards were presented under the categories of Spices and Allied Products and Essential Oils, Oleoresins & Condiments, recognizing the companies’ consistent performance, product quality, and contribution to strengthening Sri Lanka’s presence in global markets.
The recognition reflects Expo Commodities’ continued focus on delivering high-quality, value-added Sri Lankan products while upholding international standards across innovation, sustainability, and responsible sourcing. Through STAY Naturals, the group has expanded its reach in key export markets, promoting Sri Lanka’s essential oils, oleoresins, and condiments derived from its rich agricultural heritage to customers worldwide.
The achievement also reflects the collective effort, technical expertise, and commitment of the teams behind the operations, alongside the continued trust of global partners and customers. Expo Commodities (Pvt) Ltd, part of Expo Commodities Global, is strategically focused on driving sustainable export growth and strengthening Sri Lanka’s global positioning as a reliable supplier of high-quality natural products.
Expo Commodities Global is a globally active Agri-commodity enterprise with operations spanning multiple origins including Sri Lanka, Vietnam, Indonesia, Madagascar, Comoros, Egypt, the UAE, India, Germany, and the Netherlands. The company specializes in the production, processing, and export of premium organic and conventional spices, coconut products, essential oils, oleoresins, and value-added agricultural products, delivering consistent quality through integrated and sustainable operations.
Expo Commodities Global and STAY Naturals (Pvt) Ltd are part of Aberdeen Holdings, a diversified Sri Lankan conglomerate with interests across pharmaceuticals, packaging, commodities, transport and logistics, power generation, and digital innovation, supporting long-term growth through strong governance, sustainability, and global market engagement.
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