Business
IT, Electrical and Electronics sectors key to achieving 7–8% economic growth in coming years -President
President Anura Kumara Dissanayake stated that the Government aims to increase Sri Lanka’s economic growth from its current level of around 5 per cent to 7–8 per cent over the coming years, emphasising that the information technology, electrical and electronics sectors will play a pivotal role in achieving this target.
The President made these remarks while addressing a discussion with leading investors and industrialists from the information technology, electrical and electronics sectors, held on Wednesday (1 July) morning at the Presidential Secretariat.
Highlighting that Sri Lanka’s future can only be secured by strengthening domestic industries, the President invited entrepreneurs to work in partnership with the Government to unlock the country’s true economic potential. The President also requested that they submit, at the earliest opportunity, proposals for developing their respective sectors together with a report outlining the key challenges currently facing the industries.
The President further stated that the Government intends to allocate Rs. 2 trillion for capital expenditure next year to accelerate economic growth. He noted that the Government expects the export sector to make the maximum possible contribution towards meeting the country’s growing demand for foreign exchange resulting from this investment.
The discussion focused extensively on the significant contribution that the information technology, electrical and electronics sectors could make towards increasing Sri Lanka’s export earnings and foreign currency inflows.
It was highlighted that the information technology sector, currently Sri Lanka’s third-largest export revenue earner, has the potential to generate US$5 billion in annual export earnings. Likewise, the electrical and electronics sector, which currently generates approximately US$500 million in export revenue, has the potential to increase this figure to US$2 billion annually.
Participants also discussed Sri Lanka’s potential to establish itself as a global brand in the information technology, electrical and electronics sectors. Attention was drawn to the country’s highly skilled workforce in both industries and the need to further improve facilities and infrastructure to support their continued growth.
Representatives of the business community briefed the President on a number of challenges affecting the sectors, including the complexities involved in importing electronic components, obstacles faced by companies operating in the Colombo Port City when conducting transactions through the banking system and difficulties encountered in promoting locally manufactured products within the domestic market. The discussion also focused on removing these barriers and introducing the necessary legislative and regulatory reforms.
Attention was also paid to establishing a special unit representing relevant parties to directly receive the issues and suggestions of industrialists and provide prompt solutions to them.
Business representatives were also briefed on a range of Government initiatives already planned to expand support and infrastructure for these sectors.
Meanwhile, Deputy Minister of Digital Economy Eranga Weeraratne outlined plans to establish a Virtual Special Economic Zone and a data centre, introduce a Green Channel mechanism to remove Customs-related obstacles to the import of electronic equipment required for research and development (R&D) and address banking and credit card limitations affecting overseas payments for essential services such as cloud computing and Software as a Service (SaaS). He also noted that the Government is considering alternative incentive schemes to help retain skilled professionals and reduce the migration of talent overseas.
Among those present were Minister of Labour and Deputy Minister of Finance and Planning Anil Jayantha Fernando; Secretary to the Ministry of Finance, Planning and Economic Development Dr..Harshana Suriyapperuma, Chief Advisor to the President on Digital Economy Dr. Hans Wijayasuriya, Senior Additional Secretary to the President Roshan Gamage; Secretary to the Ministry of Industry and Entrepreneurship Development Thilaka Jayasundara; Chairman of the Export Development Board Mangala Wijesinghe; Shehani Seneviratne and other representatives of the Sri Lanka Association for Software and Services Companies (SLASSCOM); Chairman of the Sri Lanka Electronic Manufacturers and Exporters Association (SLEMEA) Gamini Ranasinghe; former Chairman Dr Ajith Pasqual; Managing Director of VARIOSYSTEMS (Pvt) Ltd Thevan Satheeswaran; Managing Director of GPV Lanka Chandana Dissanayake; together with a large number of leading entrepreneurs and representatives from the information technology, electrical and electronics industries.
[PMD]
Business
USA–Sri Lanka Chamber of Commerce plans New York campaign to promote Tourism and Business
Timing aligns with national policy discussions
By Sanath Nanayakkare
The USA–Sri Lanka Chamber of Commerce is exploring an innovative promotional initiative to showcase Sri Lanka’s tourism, cultural heritage, and commercial opportunities in the heart of New York City during the upcoming Christmas and holiday season.
The proposed campaign aims to bring Sri Lanka’s unique identity to one of the world’s most internationally recognized cities through a mobile digital billboard featuring high-quality photographs and videos highlighting the island’s natural beauty, rich heritage, and diverse commercial offerings. Designed to capitalize on New York City’s significant holiday-season foot traffic, the initiative will reach American consumers, international tourists, and potential business partners.
The digital showcase will feature pristine beaches, scenic mountains, waterfalls, tea plantations, wildlife, ancient cities, Buddhist heritage, traditional arts, authentic cuisine, and modern attractions, positioning the country as a premier international travel destination. An interactive QR code linking to comprehensive tourism information will also be incorporated, allowing viewers to directly explore travel opportunities.
Beyond destination promotion, the initiative provides Sri Lankan businesses with a vital platform to introduce their products and services to the American market. Enterprises representing Ceylon tea, spices, food products, gems and jewellery, apparel, handicrafts, wellness, hospitality, and tourism will have the opportunity to showcase their brands alongside the broader national campaign.
The Chamber notes that this effort will be particularly beneficial for small and medium-sized enterprises (SMEs) seeking greater international exposure, brand recognition, and commercial partnerships in the United States. By integrating tourism promotion with commercial visibility, the project aims to strengthen Sri Lanka’s international image while supporting trade, investment, and business development.
Operating under the central message of “Discover Sri Lanka. Experience Sri Lanka. Visit Sri Lanka,” the campaign presents the island as a destination defined by natural beauty, cultural richness, distinctive products, and entrepreneurial potential. More information on the initiative is accessible at www.usaslcc.org.
Tourism sector stakeholders have welcomed the move, noting that private-sector-led initiatives of this nature bypass cumbersome bureaucratic procurement procedures and complex tender processes typically associated with state-run promotional campaigns abroad.
The timing aligns with recent national policy discussions regarding tourism promotion. Participating in a Fireside Chat at the inauguration of the Sri Lanka Economic and Investment Summit 2026, organized by the Ceylon Chamber of Commerce, President Anura Kumara Dissanayake emphasized that a proper procurement mechanism needs to be established before acquiring tourism promotional concepts, recommending a performance-based system where agencies are compensated according to verified growth in tourist arrivals.
Business
Seylan Bank partners Colombo Motor Show 2026 as official banking and leasing partner
For 10th consecutive year
Seylan Bank PLC, the Bank with a Heart, has reaffirmed its commitment to supporting Sri Lanka’s automotive industry by partnering with the 20th edition of the Colombo Motor Show 2026 as the Official Banking & Leasing Partner for the 10th consecutive year. This makes Seylan Bank the longest-standing partner of the Colombo Motor Show, further reflecting its longstanding association with one of Sri Lanka’s most prominent automotive exhibitions. The four-day exhibition is scheduled to take place from 20th to 23rd November 2026 at the Bandaranaike Memorial International Conference Hall (BMICH), marking the first time the Colombo Motor Show will be held as a four-day event.
As one of Sri Lanka’s leading international motor and motor accessories exhibitions, the Colombo Motor Show will bring together vehicle enthusiasts, prospective buyers, industry professionals and automotive service providers. The 2026 edition is expected to feature over 200 trade stalls covering motor vehicles, accessories, spare parts, lubricants, tyres, batteries, leasing facilities and other motor-related services.
Through its continued partnership, Seylan Bank will showcase a comprehensive range of financial solutions designed to support customers in meeting their personal and business needs, with a particular focus on Seylan Leasing facilities. Visitors to the exhibition will have the opportunity to receive on-the-spot leasing evaluations and expert guidance from Seylan Leasing Specialists, helping them explore vehicle financing options conveniently during the event.
Business
WCIC sharpens focus on scaling women-owned businesses
The Women’s Chamber of Industry and Commerce (WCIC) is sharpening its focus on helping women entrepreneurs move beyond business creation towards sustainable growth, as it expands its membership, partnerships and advocacy footprint.
WCIC Chairperson Gayani de Alwis, concluding her second tenure, highlighted the Chamber’s efforts had increasingly centered on creating pathways for women to translate entrepreneurial ambition into viable enterprises and, importantly, build those businesses for the longer term.
“Ultimately, our impact is not measured by the number of programmes we conducted, but by the women whose businesses grew, whose voices became stronger, whose horizons expanded and whose contribution to the economy became greater,” she said addressing the WCIC 41st Annual General Meeting (AGM) held on 22 September for which the Chief Guest was Canadian High Commissioner to Sri Lanka and the Maldives Isabelle Martin.
The focus has included a special initiative for female university students with an entrepreneurial mindset, regional chapter initiatives in the Northern Province, capacity-building programmes and the inaugural ‘Beyond Ramp Up’ workshop.
The Chairperson said these initiatives were designed to move women “from aspiration to enterprise, and from enterprise to sustainable growth”, signaling a broader focus on strengthening the progression of women entrepreneurs beyond the initial stages of business formation.
WCIC recorded a 20 percent increase in membership during the period with membership crossing 460 and expanded its ecosystem through a series of strategic partnerships.
Internally, WCIC moved to strengthen its governance framework, revising its Articles of Association to ensure regulatory compliance and introducing a Code of Conduct and Board self-assessment. Clearer organisational roles, job descriptions and performance targets were also introduced as part of efforts to strengthen accountability and professionalise its operations.
Reflecting on her tenure, the Chairperson said the period had been about building a stronger, more connected and professionally governed organisation, while converting its wider ambitions into tangible opportunities for women in business.
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