Business
‘Nation Branding of Sri Lanka on the global stage requires a more collaborative approach’

Sri Lanka is currently facing several economic challenges and in order to steer the country out of this difficult situation, it is imperative that Sri Lanka takes bold steps that will make the country ‘future ready’. Among them, Nation Branding is an approach that can pay rich dividends if carried out properly.
Nation Branding is an exercise where a country aims to build, enhance and manage its reputation on the global stage. It presents the country with the opportunity to be better positioned to deal with foreign nations and build stronger relationships which in turn would benefit the nation economically by means of greater investments, more tourism, higher value and demand for its products and services, attract talented, creative workforce and enhance its influence on the world stage.
As a nation, Sri Lanka requires a greater focus on innovation, entrepreneurship, and startups where a culture that can support such initiatives is nurtured. Although these areas are widely spoken of and several initiatives have already been implemented, there is still room for improvement in terms of consistent national policies or platforms that can take them to the next level. The creation of a common platform should also include fostering closer partnerships between Sri Lankan universities, organizations operating across various industries, and research agencies. The ongoing ‘Future Ready Sri Lanka’ which focuses on encouraging entrepreneurship, innovation, skills, and knowledge-based industries and society – all of which are vital components as we embrace this new normal and prepare for economic recovery – is an encouraging sign in terms of a common platform for the betterment of the nation.
Over the years, some developed and developing nations have adopted a collaborative approach to successfully market their countries and increase revenue through multiple streams whether it’s via foreign direct investment, tourism, logistics, manufacturing, or any other industry. Sri Lanka has not been able to follow in their footsteps which has resulted in limited success on this front as a nation. There is no doubt that Sri Lanka is blessed to be centrally located on the world map as a maritime hub with our ports such as Colombo, Hambanthota, and Trincomalee all strategically positioned. Given our strategic maritime location, we are ideally positioned to take advantage of a semi-lockdown assembly operation to transform Sri Lanka into a hub for assembling and re-export. We must encourage global giants to invest in large-scale assembling plants in Sri Lanka where they can utilize our skilled yet cost-effective labour force thereby making the country a hub that can challenge regional players in this space.
Education has always been one of the strong points of Sri Lanka where our literacy rate has been one of the highest in the continent. However, today’s technology-driven world requires more than mere literacy as what is more important these days is digital literacy. Today we learn, live, and work in a world where accessing information and communicating with others is increasingly through digital devices such as laptops, tablets, and smartphones that have access to the Internet, social media platforms, and different types of software. Therefore, increasing digital literacy is of paramount importance to help the country compete against regional rivals. Fortunately, Sri Lanka is witnessing an increase in computer literacy, digital literacy, and Internet penetration with technologies such as 5G also available in the island. Along with this, we also see the mega-development projects such as Port City which will undoubtedly elevate Sri Lanka’s infrastructure and bring the country on par with regional cities such as Singapore and Hong Kong. Together, these attributes will provide the country with the perfect foundation to become a service hotspot and attract global giants to setup operations in the country.
However, to maximise the utilization of our limited funds and resources across all these key areas it is imperative that the relevant organisations in charge of each area collaborate and adopt a Nation Branding approach. This will ensure that as a brand Sri Lanka will have a far greater impact on the global stage which in turn will certainly translate into greater, long-term revenues and a much-needed boost to the country’s struggling economy.
This Nation Branding should take a three-pronged approach – Export Branding, Generic Nation Branding, and Internal Nation Branding. Export Branding will help to create a positive halo effect on products manufactured in Sri Lanka driven by a “Country-of-Origin” effect and resulting in an increased ability to export and greater acknowledgment and acceptance of Sri Lankan products in the global market. Generic Nation Branding will enhance the country’s ability to attract tourists and skilled workers and foreign direct investments. It will provide us the opportunity to reduce incentives for investors, sustain higher prices and also increase cost pressure on competing nations. As a nation, we will be more resilient to current or future global or regional financial meltdowns. Internal Nation Branding is also an important component as it will help us to curb the “brain drain” of losing skilled workers to developed nations while also increasing overall productivity driven by better morale among the workforce of the country.
Business
NDB Bank hosts Investor and Analysts Earnings Call on FY 2024 financial results

National Development Bank PLC (NDB) conducted its Investor and Analysts Earnings Call on 12th of March, following the release of the financial results and annual report for the full year ended December 31, 2024.
The session, led by Kelum Edirisinghe, Director and Chief Executive Officer of NDB Bank, along with the bank’s senior management team, was held virtually via Zoom. During the call, the CEO delivered a comprehensive presentation on the bank’s financial performance for FY 2024, its strategic direction, and key operational highlights. This was followed by an interactive Q&A session, providing investors and analysts with valuable insights into the bank’s growth trajectory and future outlook.
The forum attracted a diverse group of stakeholders, including research analysts, stockbrokers, fund managers, and investors. Organized by NDB’s Investor Relations Team, the session reinforced the bank’s commitment to transparency and stakeholder engagement. Since 2014, NDB has consistently hosted these quarterly and annual earnings calls, demonstrating a longstanding commitment to fostering trust and accountability. Transcripts and recordings of the call will be made available on the bank’s website, ensuring continued access to key insights.
During the presentation, the CEO highlighted NDB’s strong financial performance in 2024, underpinned by strategic initiatives aimed at optimizing the cost of funds, strengthening portfolio quality, and driving sustainable profitability. The bank’s digital transformation efforts, coupled with a focus on enhancing transactional and fee-based income, played a pivotal role in navigating macroeconomic challenges and positioning NDB for long-term growth. The Q&A session that followed saw insightful discussions on key topics, including the bank’s loan portfolio quality, CASA base, projected loan growth, sources for loan growth, and expectations on interest rate movements in the economy.
Despite the dynamic economic landscape, NDB remained resilient, leveraging its robust risk management framework and customer-centric approach to maintain stability and deliver value to stakeholders.
Business
ComBank crowned People’s Private Bank Brand of the Year for 3rd successive year

The Commercial Bank of Ceylon has been voted the ‘People’s Private Banking Services Brand of the Year’ for the third consecutive year at the SLIM Kantar People’s Awards 2025, in a significant validation of the Bank’s status as the most popular private sector bank in the country.
Presented by the Sri Lanka Institute of Marketing (SLIM) and based on research by Kantar, a leading global insights agency, these awards are considered the ultimate testament to consumer-driven recognition in Sri Lanka. They are determined solely by consumer votes rather than a panel of experts, and recognise the brands and personalities that have earned the trust and loyalty of Sri Lankans.
The Bank said this accolade is a testament to the continuing impact of its services in the lives of millions of people, as well as the effectiveness of the Bank’s brand-building efforts and marketing initiatives. The Bank’s continuous engagement with customers, innovative campaigns, and commitment to delivering superior banking experiences have been instrumental in securing this recognition.
Business
Advancing solar PV integration: A vision for a sustainable energy future

During the Eng. (Prof.) R. H. Paul Memorial Oration 2025, Prof. Lilantha Samaranayake emphasised the urgent need for advanced solar photovoltaic (PV) integration to create a resilient and sustainable energy future. Speaking on the Future of Renewable Energy, he highlighted projections from the International Energy Agency (IEA) that forecast global renewable electricity generation will exceed 17,000 TWh by 2030, representing an almost 90% increase from 2023. Solar PV is anticipated to become the leading source of renewable electricity, followed by wind and hydroelectric power.
Sri Lanka has set an ambitious target of achieving 100% renewable energy. Policymakers are working towards a people-centric, equitable, and affordable energy transition. The government also aims to reduce electricity tariffs by 30% within five years, though no specific timeline has been set for net-zero emissions.
Challenges in Solar PV Integration—While renewable energy adoption is increasing, challenges remain. A major issue is grid stability due to solar energy’s intermittent nature. Grid stability refers to the ability of an electrical power grid to maintain a consistent voltage and frequency while balancing electricity supply and demand. One of the main challenges with integrating solar energy into the grid is its intermittent nature, meaning that solar power generation fluctuates depending on sunlight availability. This variability can cause instability in the grid.
Why is Solar Energy Intermittent? Solar panels generate electricity only when exposed to sunlight. At night, there is no generation, requiring alternative power sources. Cloud cover, rain, and seasonal changes affect solar energy output. On cloudy days, solar generation can drop suddenly, causing fluctuations in power supply. Unlike conventional power plants that provide a steady output, solar energy can vary within minutes, making it challenging to maintain a stable power flow.
How Does This Affect Grid Stability? The Electricity grids operate at a specific frequency (e.g., 50 Hz or 60 Hz). A sudden drop in solar power generation can lead to a decrease in frequency, potentially causing power outages. Solar energy injections can cause voltage levels to rise or drop unpredictably, affecting equipment performance and consumer supply quality. Traditional power plants have rotating generators that provide inertia, helping to stabilise the grid. Solar PV systems do not have this natural inertia, making the grid more susceptible to instability.
Prof. Samaranayake explained that Sri Lanka’s current power generation mix, as of November 2024, includes:
27% from hydroelectric power
19.6% from rooftop solar
14.3% from coal
13.6% from oil
5.1% from private oil plants
Smaller contributions from wind, biomass, and other renewable sources
A key concern is the lack of inertia in renewable energy sources. Unlike conventional power plants, solar and wind do not provide inherent grid stability, leading to frequency fluctuations.
Prof. Samaranayake proposed an innovative solution for grid stability: implementing Virtual Inertia using advanced power electronic control systems. This approach mimics the stabilising effect of traditional rotating generators, ensuring a steady frequency supply in the grid.
Other potential solutions include:
Adding rotating machines such as LNG or nuclear power plants
Energy storage systems like pumped storage, flywheels, and large-scale battery systems
Enhancing grid regulations to support the integration of rooftop solar PV systems
The introduction of advanced Virtual Inertia technology is expected to complement regulatory changes that relax statutory voltage limits and improve the quality of electricity supply.
Another controversial yet forward-looking strategy discussed was the possibility of nuclear energy. According to sources from the Sri Lanka Atomic Energy Board (SLAEB), the country’s first nuclear power plant, leveraging integral pressurized water reactor (iPWR) technology, could be operational by 2032. Given Sri Lanka’s proximity to India, which already operates nuclear plants, proponents argue that nuclear energy could be a viable option for stabilizing the power grid.
Prof. Samaranayake stressed the need for a holistic approach, as solar PV continues to be vital to Sri Lanka’s energy future. This involves investing in energy storage, enhancing grid infrastructure, and enacting regulatory reforms. He called on policymakers, engineers, and the public to collaborate in creating a more sustainable and resilient energy landscape.
The Eng. (Prof.) R. H. Paul Memorial Oration reminds us of engineering and innovation’s critical role in tackling global energy challenges. With strategic planning and technological advancements, Sri Lanka can pave the way for a cleaner, more sustainable future.
The oration paid tribute to the late Prof. R. H. Paul, a distinguished academic and former Dean of the Faculty of Engineering, University of Peradeniya, who made significant contributions to electrical and electronic engineering in Sri Lanka. His legacy continues to inspire advancements in the energy sector.
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