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Opportunities for Sri Lankan electronic and electrical Industry to link with global value chains



Sri Lankan exporters have not been able to properly connect to the GVC despite the country's inherent comparative advantage in this area of global production

EDB takes initiatives for the betterment of the sector

Sri Lanka’s ability to overcome the current financial crisis heavily depends on export revenue. Foreign Direct Investments (FDIs), High Value Addition, Business-Friendly regulatory framework, and Research and Development (R&D) initiatives are necessary for Sri Lankan exporters to compete in international markets and establish connections to the Global Value Chain (GVC).

Statistics show that Sri Lankan exporters have not been able to properly connect to the GVC despite the country’s inherent comparative advantage in this area of global production due to its Geographic Advantage, Logistics, Market access, Educated and Adaptable Workforce, Lower cost of Manufacturing, Precision Manufacturing and Labor, Quality, Reliability and Trust, Low Lead Time etc. Some of the major contributing causes are Organizational Challenges, Legal & Regulatory Challenges, Technical Challenges, Social & Cultural Challenges, Political Challenges, and Economic Challenges.

Over the past five years, the Sri Lankan Electronic and Electrical industry has advanced significantly. Despite the Covid pandemic, economic hardship, and political uncertainty, the sector export revenue grew by 22% between 2015 and 2022. Automobile Components, Power Generation and Distribution, Telecommunication, Medical, Construction, Consumer Electronics, and Industrial Automation make up the majority of the sector’s exports with over about 100 companies. The Sri Lankan Electronic and Electrical Sector (EEC), which employs more than 38,000 skilled workers and ranks fifth in terms of the country’s merchandise export income earners, generated US$ 483 million in 2022. Original Equipment Manufacturers (OEMs) and Electronics Manufacturing Service (EMS) providers make up the majority of the businesses.

Global Value Chains have benefited emerging nations by facilitating their diversification away from primary products and toward manufactures and services. In the past, in order to export a manufactured good, a nation had to be capable of producing the entire good. Now a nation can specialize in one or more activities where it has a competitive advantage through value chains. GVCs separate the various steps in the creation of a Smartphone, a TV, or a Car so that they can be completed in various countries.

Today, more than two thirds of all global trade take place where value chains cross at least one and frequently several borders during their production process. The EDB has taken some initiatives for the betterment of the sector in connecting to the GVC and to improve the export revenue.

By working with firms that assist with global buyer/importer search, the EDB will develop an International Buyer Search System for all export sectors (like in South Korea) that will enable exporters to easily connect with reliable foreign clients. The EDB is closely collaborating with the Central Bank of Sri Lanka and PayPal for an online payment gateway, that will make it simpler to send and receive payments to and from foreign vendors. In order to connect with trustworthy foreign clients, the EDB is also promoting and advising export companies to participate at most prospective international exhibitions and business forums. The EDB continuously promotes and helps to find potential buyers for local export companies in all export sectors through its web portal ( and social media channels. Moreover, the EDB is working with the Board of Investment of Sri Lanka to entice Multinational Corporations to Sri Lanka in order to encourage Foreign Direct Investments in the Electronic and Electrical sector. Furthermore, the EDB works closely with International Certification Organizations to help export businesses maintain product quality standards in accordance with customer satisfaction so they can connect to GVCs.

In contrast, the Government is working on to upgrade the logistics infrastructure, which includes updating Ports and Airports, expediting Customs operations, and collaborating with all border agencies to provide a one-stop shop system to expedite and facilitate the export process.

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Eco Tablet completes four years in Sri Lankan market



Eco Tablet, a successful solution to fuel standardisation with the use of nanotechnology, completes four years in the Sri Lankan market. Eco Tablet, which was introduced to the Sri Lankan market in 2019, has gained the trust of customers from all parts of the country, and has had a successful journey to date. Made with a combination of nano technology and organic ingredients, Eco Tablet is the world’s number one fuel booster. It can be bought under the name of ‘Eco Racing’ for petrol vehicles and under the name of ‘Eco Diesel’ for diesel vehicles. Eco Racing increases the octane value of petrol by five to ten while Eco Diesel increases the cetane value by two to five times.

Eco Tablet ( has the ability to properly standardise fuel in accordance with quality certifications awarded by American Society for Testing and Materials (ASTM), the only fuel standards organisation in the world. The fuel, which can be turned into ASTM condition by using Eco Tablet, is fully combusted in the engine and results in maximum fuel efficiency.

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DIMO continues to lead as one of Sri Lanka’s premier workplaces



DIMO HR Team representatives at the Great Place to Work awards ceremony held recently

DIMO’s recent remarkable 11-year winning streak as a Top Great Place to Work in Sri Lanka under the Large-size Workplace Category and recognition as one of Asia’s Top 100 Workplaces by GPTW, are clear testaments to the strength of its employee value proposition, “making work enjoyable and rewarding.”

Executive Director and Chief Human Resources Officer of DIMO Dilrukshi Kurukulasuriya said that maintaining such a winning streak requires more than just good HR practices, it necessitates a strategic approach to employee satisfaction and engagement while turning the company’s employee value proposition into a reality.

The company’s employees are the cornerstone of this achievement, and their testimonials on different aspects of the work culture reflect the vibrant work environment and the deep sense of belonging within the DIMO tribe.

Rakhita Gunasekera, Chief Operating Officer (Chemical Solutions) at DIMO, emphasized a ‘Great Place to Work’ as an environment that encourages people to give their best without compromising on values. “This leads to cohesive growth. DIMO is such a place”, he added.

Ravinesh Senaratne, Deputy General Manager – Marketing (Retail), who began his career as a Management Trainee at DIMO said, “DIMO didn’t just hire me, it invested in me and entrusted me with diverse brands, products, and services from Mobility to Retail Sectors. The organization always assists me to reach the next level of growth while facilitating my career elevation.”

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Current IMF negotiation process not tailored to address countries in crisis. President



President Ranil Wickremesinghe speaks at the Head of State Dialogue at the Berlin Global Conference on September 28

Urges global leaders to make debt restructuring less complex and more effective

Advocates increase in concessional financing through multilateral development banks

Delivering the opening speech at the Head of State Dialogue at the Berlin Global Conference on September 28, President Ranil Wickremesinghe expressed the need for a comprehensive dialogue between Western nations and China, the United States of America and China and the European Union and China, as a critical component of a robust international plan capable of addressing the global challenges anticipated in 2024.

The President also highlighted that initiatives such as the ‘Belt and Road’ have led to increased scrutiny of countries like Sri Lanka, potentially impacting the economic prospects of nations in the Global South. Nevertheless, he emphasized that Sri Lanka has a history of engaging with countries like the United States, India, and China, making such interactions a familiar and essential part of international relations.

He also expressed gratitude for the support received from India and Bangladesh in addressing Sri Lanka’s recent economic challenges. He underlined the contrast between advanced economies, which possess buffers and reserves to weather these shocks, and developing nations that lack such resources. He emphasized that this disparity was the starting point for the sovereign debt crisis.

The President cautioned that without immediate corrective measures, the world could be on the brink of another crisis. He acknowledged that many developing countries are burdened with substantial debt, highlighting the inadequacy of existing mechanisms like the IMF to address this new situation. He shared Sri Lanka’s experience when declaring bankruptcy, which led to a halt in foreign funding and triggered a political crisis.

President Wickremesinghe praised Germany for its significant contribution to the Green Climate Fund, which has been instrumental in addressing climate change mitigation and debt restructuring challenges. However, he stressed that the current funding available is insufficient to meet the immense challenges.

The President called for utilizing the $100 billion with the IMF as a starting point, emphasizing that it is better than having no funds at all. He noted that the financing needs for climate prosperity and clean energy technology to achieve net-zero emissions are substantial, even for countries facing economic hardships.

He stressed the urgency of global coordination and leadership to resolve these challenges, which have not been sufficient to address their magnitude. He highlighted the need for a new international financial architecture to replace the existing one, designed nearly 80 years ago. The President urged ambitious action to reform the international financial architecture, making debt restructuring less complex and more effective.

He advocated for a significant increase in concessional financing through multilateral development banks, emphasizing the importance of broader accessibility, even for middle-income nations facing economic vulnerabilities. The president pointed out that the current IMF negotiation process is not tailored to address countries in crisis.

He urged for a comprehensive dialogue between Western countries, China, and other key global players. He emphasized that 2024 is the year to act, given the reduced leadership capacity of the United States due to its impending elections.

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