The Ceylon Chamber of Commerce welcomes bold proposals in the budget that align with its recommendations, Sri Lanka Economic Summit discussions, and Vision 2030 goals. The 2025 Budget focuses on stability, governance, public relief, tackling corruption, and driving inclusive growth. The Budget emphasises infrastructure expansion through Public-Private Partnerships (PPPs) and digital economy initiatives, providing a strong foundation for transformation.

The Chamber appreciates the Government’s recognition of the need to reform the Customs Ordinance and the implementation of the National Single Window, both crucial for enhancing trade facilitation and improving the ease of doing business. We also acknowledge the planned implementation of the Economic Transformation Act with amendments and the introduction of legislation on Public-Private Partnerships (PPPs). Timely execution of these reforms will create a more conducive environment for private sector investment in key sectors such as ports, tourism, and infrastructure, as highlighted in the budget speech.

Policy Continuity: Taxation and Fiscal Framework

The Chamber commends the Government for maintaining policy consistency by retaining the existing tax framework and avoiding ad-hoc tax measures to match the expenditure proposals. Adhering to the Public Financial Management Act, which caps primary expenditure at 13% of GDP, is a positive step toward rebuilding investor confidence and strengthening Sri Lanka’s global credit standing. Ensuring tax stability during the year and simplifying compliance will be crucial for fostering a competitive business environment.

Bold Reforms Requires

Timely Implementation

The above-mentioned bold reforms require time-bound implementation to translate the Budget’s vision into a reality that will be felt by the public. For example, projects like the National Single Window which has been a request from the private sector for over two decades require commitment by the Government on the implementation plan.

The Chamber welcomes the plan to establish a holding company for SOEs, aligning with global best practices to improve governance, financial discipline, and efficiency. Its success will depend on clear timelines, independent oversight, and transparency. The focus on digitalisation and e-governance is also a positive step, with initiatives like the Unique Digital ID and the setup of an Apex Digital Economy Authority to reduce bureaucracy and enhance transparency.

Specific Proposals Require Consultation Prior to Implementation

The transition from the current SVAT system to a risk-based refund system requires careful execution, including stress-tested pilot programmes to ensure a robust and efficient refund process. The changes to the minimum wage for private sector should be carried out in a consultative process and align with business sustainability and broader labour reforms that advocate for higher women’s economic participation and flexible work.

The budget prioritises investment-driven growth but needs stronger support for MSMEs, vital for jobs and resilience. While Rs. 254 billion is allocated for agriculture, a clear strategy for modernisation, value chains, and climate resilience, is crucial. Policies on sustainable farming, irrigation, and private-sector agro-processing, must be strengthened to counter climate change impacts.

Alignment with Chamber Recommendations and Vision 2030

The Government’s emphasis on investment-led growth, trade, digital transformation, and public sector reform, align with the Ceylon Chamber’s recommendations. While the 2025 budget effectively addresses fiscal consolidation, investment facilitation, and governance, its success depends on efficient time-bound implementation, policy stability, and stakeholder collaboration. The Chamber remains committed to working with the Government to refine and execute these policies, ensuring a resilient, inclusive, and globally competitive economy.

AIA Insurance marks its fifth year of being recognized as the Best Life Insurance Company in Sri Lanka. Awarded by the internationally renowned Capital Finance International (CFI) and Global Banking and Finance Review (GBFR), these supreme achievements stand as a testament to AIA’s unwavering commitment to innovation, customer-centricity, and community empowerment in the face of unprecedented challenges.

2023/24 marked another year of resilience for AIA Insurance. Amidst a fluctuating economic landscape, the company’s mission to be a steadfast partner to the people of Sri Lanka has never wavered. Prioritizing the wellbeing of both its customers and the broader community, AIA has continued to lead with purpose, enhancing its offerings to meet the evolving needs of Sri Lankans.

AIA’s commitment to customer delight, backed by digital innovation, remains a cornerstone of its success. Over the past year, the company has accelerated its digital transformation journey, introducing pioneering solutions that set new benchmarks in the insurance industry. From cutting-edge human-centric point-of-sale (POS) systems to advanced robotic process automation and cloud-based strategies, AIA has consistently delivered seamless and efficient experiences to its customers.

AIA’s dedication to holistic wellness extends beyond its product portfolio. As Sri Lanka’s only insurer with a cohesive wellness ecosystem, AIA has forged partnerships with leading wellness providers, offering customers unparalleled access to health and wellbeing services. This includes collaborations with Flash Health, High Octane Fitness Gyms, Siddhalepa, My Dentist, Unilever Pureit, Vision Care and Doc990 ensuring that AIA customers are not just protected but are empowered to lead healthier and happier lives.

AIKO, a BloombergNEF Tier 1 solar module manufacturer, has successfully launched its World’s No. 1 Efficiency N-TYPE ABC Modules in Sri Lanka, marking a significant step towards advancing renewable energy adoption in the region.

The launch event, held on 7th February at Monarch Imperial, was organized in collaboration with Sunbeam Technologies (Pvt) Ltd. The occasion seamlessly combined technological presentations with vibrant cultural performances, highlighting Sri Lanka’s rich heritage while focusing on innovation. Sunbeam Technologies ensures efficient distribution and comprehensive support for AIKO’s products, facilitating broader adoption across the country.

Distinguished guests, including J. M. Athula, Director General of the Sri Lanka Sustainable Energy Authority (SLSEA), and Padmadeva Samaranayake, Project Coordinating Officer at SLSEA, attended the event. Their participation emphasized the significance of cutting-edge solar technologies in driving Sri Lanka’s sustainable energy agenda.

AIKO’s N-TYPE ABC Modules, the highlight of the event, set a new benchmark in the solar industry with a range of exceptional features. These modules achieve the highest efficiency, with 27.2% cell efficiency and 24.2% module efficiency, thanks to advanced ABC technology that maximizes energy output. They also offer superior micro-crack resistance and extreme durability, ensuring long-term reliability across various environmental conditions. The modules maintain high performance even under partial shading, optimizing energy yield, and feature an improved temperature coefficient, delivering better efficiency in high-temperature environments. Additionally, the N-TYPE ABC Modules guarantee sustained performance with lower degradation over the product’s lifespan, making them a reliable choice for long-term energy production.