Business
Germany supporting Sri Lanka to keep up with latest technological developments in apparel sector

At present, Sri Lanka accounts for around 1% of the global market share of apparel exports, and Sri Lanka’s apparel sector is well positioned to reach the industry’s target of $8 billion in export earnings by 2025. With these targets in sight, Sri Lanka’s apparel sector will have very high demands for skilled technicians, especially in the area of mechatronics, where the industry is moving into advance factory automations.
In order to fulfill the demand of qualified workforce in the apparel sector, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH- Vocational Training in Sri Lanka project on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) partnered with Sri Lanka German Technical Institute (SLGTI) and MAS Holdings (Pvt) Ltd to commence a NVQ Level 5 Autonomation technician course to provide advanced theoretical and practical hands-on training for youth to work with the latest state-of-the-art machinery.
Prior to the commencement of the training, a Training of Trainer (ToT) course was conducted for in-company trainers at MAS in order to prepare and structure the two year training programme. In-company trainers who successfully completed the training received their certificates at the MAS Intimates facility in Ratmalana.
Speaking at the certificate awarding ceremony, Chairman of the SLGTI and CGTTI Vinod Moonesinghe said, “So far we have followed the practices from 19th century training in technical field work. It has always been a question of people going into technical colleges, theoretical learning, learning from the practice and then being thrown into the industry. Recently we have found out that this model lacks a lot. We are taking off to an entirely new trajectory as far as training is concerned. We need to train people specifically for the jobs that they will be doing in the industry. Then only we can address the job market as well as bring best overall results of the trainings”, Mr Moonesinghe said.
Head of Project, Vocational Training in Sri Lanka Project (VTSL), Mathis Hemberger said, “The philosophy of German engagement has always been to foster cooperative training where not just training institutes in the TVET sector produce the right skills, but private sector and TVET institutes jointly take the responsibility and add value. This partnership that exists between SLGTI, MAS and GIZ is a flagship example where public sector, private sector and development partners come together, join forces and create something that really has added value”.
The cooperative training approach based on the German dual system combines the advantages of two training modes (theory and industrial on-the-job training (OJT) in an integrated and coordinated process, with emphasis on the practical skills required at the shop floor. In such type of training, MAS as the industry partner and SLGTI as the public partner will share their expertise, facilities, and other specialized resources and establish a linkage between vocational training and industry.
Director-Innovation, MAS Intimates, Dr Chandika Wickramatillake said, “There’s a huge demand in MAS. We are looking to move from traditional apparel manufacturing to smart technologically advanced apparel manufacturing. We have very experienced mechanics and during the last five years, we have invested a lot in engineers. However, we have observed that there’s still a gap between mechanics and engineers, creating a need for technicians. This is a perfect time because we are looking at strengthening our staff capabilities at our factories. MAS is an international company having an ever growing global presence. These students who come from our villages will be exposed to latest technology and developments in apparel manufacturing and we need to support them. The trainers who received the certificates today have a big role to play in keeping up with technological developments, to learn and disseminate their learnings to these students. We find a lot of communication gaps because the students come from rural areas”, Dr Wickramatillake said.
Business
DFCC Bank and Ceylon Chamber of Commerce forge strategic partnership

DFCC Bank PLC has entered a partnership with The Ceylon Chamber of Commerce, to formally integrate Ceylon Chamber-led macroeconomic and sectoral intelligence into its service model. This strategic collaboration is set to enhance both internal expertise and client-facing value, reinforcing DFCC Bank’s position as the most insight-driven and customer-aligned bank in the country.
By harnessing the Ceylon Chamber’s deep research capabilities, DFCC Bank will gain privileged access to quarterly macroeconomic outlooks, sector-specific insights, and dynamic market intelligence. These deliverables will inform decision-making across the organisation—from strategy formulation to client advisory—ensuring DFCC Bank teams remain ahead of the curve in responding to economic developments and customer needs.
Through this partnership, the Ceylon Chamber will provide briefings on key economic indicators such as GDP performance, inflation trends, policy shifts, and global economic movements, alongside industry analyses tailored to DFCC Bank’s client sectors. These insights will not only serve internal capability-building but also enhance client conversations—offering DFCC Bank customers access to curated intelligence through strategic reviews and presentations.
Thimal Perera, CEO of DFCC Bank, commented:
“As we sharpen our focus on delivering value beyond banking, this collaboration with the Ceylon Chamber of Commerce gives us and our clients a distinct advantage. Timely economic insights and sector intelligence will strengthen the relevance and depth of our engagements – enabling us to support customers with more informed, responsive financial solutions that align with the realities they face.”
Buwanekabahu Perera, Secretary General and CEO of the Ceylon Chamber stated:
“Our goal is to take economic intelligence beyond boardrooms and make it practical and actionable for businesses. Partnering with DFCC Bank allows us to do exactly that, by ensuring that insights translate into better advice, faster decisions, and stronger outcomes for businesses.”
The official signing of the Memorandum of Understanding took place on 12 June 2025, symbolising a shared vision for smarter financial ecosystems in Sri Lanka.
Business
Spring board to ‘unleashing a new era in start-up driven growth’

In an impassioned call to action, Deputy Minister of Industry and Entrepreneurship Development, Chathuranga Abeysinghe, declared that Sri Lanka was ready to “unleash a new era of startup-driven growth, as he kicked off the prelude to Disrupt Asia 2025 — a four-day mega-event that aspires to redefine the nation’s digital economy and transform it into South Asia’s next innovation hub.
“We are no longer waiting for the future. We are building it, right here, starting now, said Abeysinghe. “With Disrupt Asia, we aim to place Sri Lanka firmly on the map as a gateway to South Asia, the Gulf, and Southeast Asia for global investors, innovators and disruptors.”
Scheduled to run from September 17–20 in Colombo, Disrupt Asia 2025 is more than just another tech event. Backed by the Ministry of Digital Economy and the ICT Agency (ICTA), the platform is being positioned as the national accelerator for startups and innovation—bringing together universities, industry leaders, policymakers, investors, and the general public into one unified ecosystem.
The event is anchored in Sri Lanka’s broader ambition to grow its digital economy from a current estimated transaction volume of USD 3–5 billion to USD 15 billion by 2030. To achieve this, the government is rolling out a multi-pronged strategy: a USD 50 million Fund of Funds to boost venture capital availability, the creation of a Virtual Special Economic Zone (SEZ) and new equity pathways for startups through the Colombo Stock Exchange.
Deputy Minister Abeysinghe noted that the government was working with financial advisory firm KPMG to address longstanding taxation and regulatory hurdles, including the double taxation of venture capital funds and limited frameworks for foreign co-founders.
“These policies are no longer in the shadows, he stressed. “They are being debated, fixed and aligned so that startups can thrive in a globally competitive landscape.”
Heminda Jayaweera, Executive Director at TRACE Sri Lanka, the ecosystem partner and host of the Innovation Festival on September 19, called the event “a confluence of creativity, code, and capital.”
TRACE Expert City will host more than 50 interactive product demos, themed exhibitions spanning HealthTech, AgriTech, FinTech, AI, Tourism, and GovTech, and immersive installations aimed at both the general public and young innovators.
Jayaweera emphasized the importance of creating an “incubation ground” that serves not just the tech elite, but also students, small-town entrepreneurs, and policymakers. “This is where ideas collide and evolve,” he said. “It’s where we disrupt the status quo.”
Sandun Hapugoda, Country Manager of Mastercard Sri Lanka and Maldives, added a private sector perspective to the conversation. “This is not just another tech expo, he said. “It’s a serious commitment to transform Sri Lanka into a digitally inclusive, investor-attractive economy.”
Mastercard’s participation as a strategic partner underscores the importance of collaboration in achieving these goals. “Innovation doesn’t happen in silos, Hapugoda noted. “We are working with entrepreneurs, policymakers, and financiers to build scalable solutions.”
Mastercard’s support extends to FinTech integrations, digital commerce enablement, and cybersecurity solutions — all crucial building blocks for a vibrant digital economy.
Prajeeth Balasubramaniam, Managing Partner at BOV Capital and founder of LAN, said the platform was already working to secure listings for at least two promising startups on the Colombo Stock Exchange. “Equity is not a foreign concept. We’re just late adopters. But now, we’re building the runway, he said.
Disrupt Asia 2025 will also host a “Sundowner Cultural Showcase” that celebrates Sri Lanka’s creative and artisanal identity. Featuring curated culinary offerings from Asaya Sands, gem exhibitions, and artisanal tastings, the event aims to build a bridge between innovation and tradition.
“This is more than a networking mixer, said event curator Ruwani Fernando. “It’s a statement. Sri Lanka is a land of both ancient wisdom and future-focused solutions.”
By Ifham Nizam
Business
Sampath Bank pioneers SL’s standardised API banking platform, redefining transaction banking

Sampath Bank has set a new milestone as the first bank in Sri Lanka to launch a standardised Application Programming Interface (API) platform. This revolutionary move redefines corporate banking by simplifying and automating intricate financial processes for businesses of all sizes, reflecting the Bank’s steadfast commitment to providing agile, technology-driven solutions for its expanding base of corporate and SME clients.
API banking fundamentally transforms traditional banking by exposing core functions and data as web services accessible to third-party applications. This approach creates a more interconnected and flexible ecosystem that enhances convenience, encourages innovation and improves efficiency in delivering and consuming financial services.
The new platform empowers businesses to seamlessly integrate Sampath Bank’s core banking capabilities into their internal Enterprise Resource Planning (ERP) systems. This integration supports faster supplier payments, streamlined collections, real-time balance inquiries and trade-related transactions, while maintaining established approval chains and audit controls inherent in corporate systems.
Driven by a deep understanding of digitalisation’s transformative potential, the development of this platform aims to empower corporate decision-makers by saving time and increasing visibility across financial operations. As Mr. Sanjaya Gunawardane, Chief Strategy Officer at Sampath Bank, explains, “There is no longer a need to spend hours managing physical payments or manually reconciling bank records. This platform empowers businesses, enabling them to configure, validate and execute transactions securely through a single interface. Our goal was to deliver an end-to-end solution that not only boosts efficiency but also transforms the overall banking experience. This is part of our ongoing commitment to introducing cutting-edge technologies to reshape the Sri Lankan business landscape.”
Addressing a critical challenge in financial supply chain management, this innovation offers companies a suite of ready-to-integrate APIs, automated testing tools and rapid onboarding processes that make it possible to go live within days rather than weeks.
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