Business
Regulatory policies seen as key to SL’s global competitiveness
By Ifham Nizam
As Sri Lanka tackles its economic recovery and development, regulatory policies across key sectors—trade, energy and agriculture—are set to play a pivotal role in determining the nation’s global competitiveness, Institute of Policy Studies, Research Fellow, Dr. Manoj Thibbotuwawa said.
Speaking on the topic `How Regulatory Policies Could Shape Global Competitiveness’ at a discussion held at the IPS recently in Colombo, he said, whether carefully crafted or poorly implemented, these policies could either accelerate Sri Lanka’s progress or leave it vulnerable to crises, as evidenced by the recent missteps in agricultural policy.
He also said that the fertilizer ban, implemented without proper preparation, caused havoc in the agricultural sector, resulting in two consecutive failed seasons.
Thibbotuwawa added that despite traditionally being self-sufficient in rice production, Sri Lanka was forced to import large quantities of rice, underlining the catastrophic consequences of poorly planned regulations. This experience highlights the importance of sound policymaking across sectors critical to the nation’s global economic standing.
Trade liberalization can be both an engine for growth and a source of economic strain. IPS, Research Fellow, Dr. Asanka Wijesinghe, who is an expert in economic integration, stressed that the complex implications of joining regional trade agreements, such as, the Regional Comprehensive Economic Partnership (RCEP).
He added that while liberalizing trade could stimulate Sri Lanka’s GDP growth and create jobs, it comes with significant challenges, such as, an increase in trade deficits with manufacturing giants like China and East Asian countries.
‘Sri Lanka faces the challenge of reorienting its economic focus toward export-led growth, he noted adding that domestic industries remain heavily protected, which inhibits the development of an export-oriented economy.
“To harness the full potential of trade agreements, policymakers must prioritize sectors where Sri Lanka holds a comparative advantage. However, this shift requires a delicate balance to manage short-term disruptions, including potential impacts on the labor market, he added.
High energy costs remain a stumbling block for Sri Lanka’s export competitiveness, said IPS, Research Fellow, Dr. Erandhatie Pathiraja, adding that energy pricing reform is vital for making Sri Lankan industries globally competitive. Sectors such as apparel and tea—key contributors to national export earnings—are particularly sensitive to energy costs, which erode profit margins and make it difficult to compete with lower-cost producers in the region.
She stressed that renewable energy presents a promising solution to this problem, with Sri Lanka already having committed to ambitious climate goals under its Nationally Determined Contributions (NDCs).
However, she said institutional bottlenecks and political roadblocks have delayed the adoption of renewable energy technologies. `For Sri Lanka to reduce its reliance on expensive fossil fuels and improve its global competitiveness, overcoming these barriers will be critical.’
Agriculture remains a cornerstone of Sri Lanka’s economy, contributing 8% of GDP and nearly 20% of export earnings, said IPS Research Economist Dilhani Hirimuthugodage.
Despite its importance, she said that the sector is burdened by structural issues such as land fragmentation, low mechanization, and outdated technology.
She stressed that as Dr.Thibbotuwawa highlighted, the recent fertilizer ban further exacerbated these challenges, resulting in significant losses for farmers and reduced yields.
However, she added that Sri Lanka’s agriculture sector holds untapped potential, particularly in export agriculture. Spices, for example, represent a key area where Sri Lanka has a strong competitive advantage on the global stage.
“To capitalize on this potential, the government must invest in modernizing agricultural practices, improving supply chains, and accessing new markets. By doing so, Sri Lanka can diversify its export portfolio and boost overall economic growth, she stressed.
In closing remarks, Dr. Thibbotuwawa said the road ahead for Sri Lanka involves not just reforming individual sectors but adopting a holistic, integrated approach to economic development. Policymakers must recognize the interconnectedness of trade, energy, and agriculture and create regulatory frameworks that enable each sector to thrive in the global marketplace.
Gigalingua Lanka, a premier German language institute, officially launched in Colombo with a ribbon-cutting ceremony attended by distinguished guests, including Dr. Felix Neumann, German ambassador to Sri Lanka. This marks a significant milestone for Sri Lankan professionals, especially nurses, looking to expand their careers in Germany’s thriving healthcare sector.
In collaboration with its strategic partner Global Care Solutions (Pvt) Ltd – a renowned company in the foreign recruitment industry – Gigalingua Lanka offers a unique pathway for Sri Lankan nurses and apprentices to master the German language and pursue rewarding career opportunities in Germany.
Dr. Felix Neumann, the Chief Guest at the event, expressed his support for the initiative, emphasizing the importance of language education as a bridge to global career prospects. In his speech, Dr. Neumann noted, “German language is not only a means of communication, it is a gateway to global career opportunities.” He commended Gigalingua Lanka for providing valuable opportunities for Sri Lankans and addressing the critical demand for skilled workers, especially in the nursing sector in Germany.
Gigalingua Lanka is the first private institute in Sri Lanka to offer comprehensive German language training up to the B2 level, and conduct TELC exam. The institution also provides language training for apprentices, allowing them to undertake the Apprenticeship Program and contribute to the growing labor market in Germany. The collaboration between Gigalingua Lanka and Global Care Solutions is designed to meet Germany’s growing need for skilled workers, particularly in the healthcare sector.
The event was attended by a number of prominent figures, including Dr. Felix Neumann , Arthur Senanayake (chairman of IWS Holdings), Eran Wickramaratne – former MP, Chandra Schaffter – ( Founder of Janashakthi Insurance ), Dhammika Attygalle (Director Upali Group of Companies and President Automobile Association of Ceylon) Former Wing Commander Buwaneka Abeysuriya (Ex- chairman Janatha Estates Development Board).
Chairman of Global Care Solutions, Thomas Michael Kriwat, who is also chairman of the Mercmarine Group of Companies in Germany, highlighted the significance of the new training center. He said, “We are bringing world-class German occupational language training to Colombo, offering a structured, career-focused pathway for Sri Lankan professionals. By introducing TELC (The European Language Certificates) as an officially certified German language test authority, we are increasing accessibility for students seeking internationally recognized qualifications.”
At the thanksgiving speech, Dr. Rajan Sara, Managing Director of Global Care Solutions and Director of Gigalingua Lanka, outlined the critical need for foreign nurses in Germany. “Germany is facing a significant shortage of nurses, estimated to need an additional 150,000 by 2025. This is exacerbated by an aging population and increasing healthcare demands. Over 47,000 vacancies in the healthcare sector remain unfilled, making it an ideal time for Sri Lankan nurses to seize this opportunity,” Dr. Sara explained. (Gigalingua Lanka)
In keeping with its vision to consistently evolve and address accelerated business growth needs, Brown & Company PLC recently unveiled its new state-of-the-art manufacturing and warehouse facility in Katunayake. Strategically located within minutes of the Bandaranaike International Airport and the nation’s rapidly evolving highway network, the space is positioned to significantly enhance Browns’ logistical capabilities. The hub will enable seamless access to key markets across the island, further solidifying the Company’s principal role in a cross-section of industries.
The inaugural event of the Browns Group Industrial Park was attended by Ishara Nanayakkara, Chairman, Brown & Company PLC and Deputy Chairman, LOLC Holdings PLC and Kapila Jayawardene, Group Managing Director/CEO, LOLC Holdings PLC along with key officials from the Browns and LOLC Group.
Dialog Axiata PLC, Sri Lanka’s #1 connectivity provider, has successfully launched the highly anticipated vivo V50 smartphone, marking a significant milestone in its commitment to bringing 5G technology and pro-level mobile experiences to Sri Lankan customers, with the first customer handover taking place on 27th March 2025.
The vivo V50, designed in collaboration with ZEISS, combines advanced features such as a 50MP ZEISS OIS Main Camera, a powerful Snapdragon® 7 Gen 3 processor, and a stunning 6,000mAh battery, all housed in a sleek, ultra-slim design. Available at an attractive price, the vivo V50 delivers unmatched mobile performance for work, play, and creativity, offering features such as AI-enhanced photography, 4K video recording, and lightning-fast 90W FlashCharge technology. The vivo V50 also boasts a 41° golden curvature for a comfortable grip and a premium, cinematic mobile experience.
Dialog’s partnership with vivo underscores its commitment to bringing the latest in 5G innovation to Sri Lanka, providing customers with access to next-generation mobile experiences and empowering them to capture, create, and connect like never before. The vivo V50 is now available for purchase at Dialog’s Experience Centers and via https://www.dialog.lk/phones/vivo-v50-5g-12gb.
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