Business

Regulatory policies seen as key to SL’s global competitiveness

Published

2 years ago

2024/10/17

Sahan Weerasooriya

The IPS panel of experts

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.

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Business

PM ‘Rings the Bell’ at CSE to champion financial literacy and investor education

Published

21 hours ago

2026/10/7

Sahan Weerasooriya

P.M. Dr.Harini Amarasuriya

As part of World Investor Week (WIW) 2026, the Securities and Exchange Commission of Sri Lanka (SEC) and the Colombo Stock Exchange (CSE) joined stock exchanges around the world in ringing the market opening bell for financial literacy on 5 October 2026, under the patronage of Dr. Harini Amarasuriya, Prime Minister of the Democratic Socialist Republic of Sri Lanka.

World Investor Week is an annual global campaign led by the International Organization of Securities Commissions (IOSCO) to raise awareness of the importance of investor education and investor protection. The “Ring the Bell for Financial Literacy” initiative, pioneered by the World Federation of Exchanges (WFE), brings together stock exchanges and other stakeholders worldwide to promote greater financial literacy and encourage individuals to make informed financial decisions.

The ceremony also marked the 40th anniversary of the CSE and the joint launch by the SEC and the CSE of the Stock Market Game, an online stock market simulation based on the ATrad trading system.

The Stock Market Game enables participants to gain practical experience of how the stock market works, make investment decisions and construct portfolios of listed shares without using real money. The platform is accessible through the websites of the SEC and CSE and is expected to serve as an important practical tool for promoting financial education. It is envisaged that the Stock Market Game will also be used to conduct simulation competitions among universities and the 100 Capital Market Clubs established in schools across the country.

The ceremony also featured the commemorative issuance of a stamp and First Day Cover to mark the 40th anniversary of the CSE. Issued in collaboration with the Department of Posts and the Philatelic Bureau of Sri Lanka, the commemorative stamp and First Day Cover were presented to Prime Minister Dr. Harini Amarasuriya, by the SEC Chairman Snr. Prof. D.B.P.H. Dissabandara and Ray Abeywardena, Director CSE and Chairman of Central Depository Systems (CDS).

Welcoming the gathering, Rajeeva Bandaranaike, Chief Executive Officer of the CSE, highlighted the importance of obtaining reliable information when making investment decisions.

“We operate in a digital world where a vast amount of information and data is disseminated through social media. While some of this information is factual, some may be inaccurate or misleading. When investing in the stock market, it is essential to make informed and prudent investment decisions. Therefore, investors should obtain information and data from reliable and responsible sources and persons before making investment decisions.”

Addressing the gathering, SEC Chairman Snr. Prof. D.B.P.H. Dissabandara emphasised that the SEC’s role extends beyond regulation to facilitating the further development of the capital market.

“The SEC needs to determine how best to introduce the stock market to Generation Alpha, Generation Beta and generations beyond. When it comes to investors, we need to build confidence in the market, because people will invest only when they have confidence in the market.’’

Business

Rs. 5 million worth of prizes to be given at 8th edition of CSE Masterminds Quiz Competition

Published

21 hours ago

2026/10/7

Sahan Weerasooriya

The Colombo Stock Exchange (CSE) has announced that the eighth edition of the CSE Masterminds Quiz will be held on 9th October 2026, from 3.00 p.m. onwards, at the Main Ballroom, Shangri-La Colombo.

Recognised as Sri Lanka’s premier capital market quiz competition, CSE Masterminds brings together teams from the public and private sectors. Participants will be tested across international business, global markets, current affairs, the Sri Lankan economy and business, the Sri Lankan stock market, and sports and entertainment, before a concluding rapid-fire round.

This year the winning team can win up to Rs. 2,000,000, the runners-up up to Rs. 1,000,000, and the second runners-up Rs. 750,000. Sector awards will also be presented to the highest-performing team from each participating sector. Guest participants will also be able to compete in rounds of Audience questions, and will have the opportunity to participate a raffle draw for three free return tickets provided by Fits Aviation (Pvt) Ltd.

The evening will also include an exclusive after-party with live music provided by the band ‘Doctor’ featuring guest performer Umara Sinhawansa, fine food and beverages, providing an opportunity for networking and celebration. Every participant will receive a premium goodie bag made possible by the support of the event’s sponsorship partners. Collectively, the event will feature over Rs. 5 million worth of prizes, rewards, and giveaways, encompassing championship prizes, sector awards, audience engagement prizes, raffle draw offerings, and goodie bags.

Sponsorship partners include:

Platinum Sponsors: Hatton National Bank PLC and Bartleet Religare Stockbrokers (Pvt) Ltd.

Gold Sponsors: Ex-Pack Corrugated Cartons PLC, Asha Securities Ltd., and Lanka Securities (Pvt) Ltd.

Silver Sponsors: Barista Coffee Lanka (Pvt) Ltd., Capital Trust Holdings (Pvt) Ltd., LOLC Holdings PLC, Arpico Ataraxia Asset Management (Pvt) Ltd., IronOne Technologies (Pvt) Ltd., and LankaPay (Pvt) Ltd.

Co-Sponsors: Access Engineering PLC, Bank of Ceylon, Commercial Bank of Ceylon PLC, CryptoGen (Pvt) Ltd., Deloitte Lanka (Private) Limited, Dialog Finance PLC, Efutures (Pvt) Ltd., People’s Leasing & Finance PLC, Senfin Asset Management (Pvt) Ltd., and Softlogic Stockbrokers (Pvt) Ltd.

Business

NCCSL to conduct practical workshop on food labelling and advertising regulations in Sri Lanka

Published

21 hours ago

2026/10/7

Sahan Weerasooriya

The National Chamber of Commerce of Sri Lanka (NCCSL) is organizing a one-day practical workshop on “Food Labelling & Advertising Regulations in Sri Lanka” on Thursday, 8th October 2026 from 9.00 a.m. to 4.30 p.m. at the National Chamber of Commerce, Colombo 10. The workshop has been organised to provide a practical understanding of the latest regulatory requirements governing the food products labelling and advertising of food products in Sri Lanka, with particular attention to regulatory developments applicable in 2026, compliance requirements, and the potential legal and financial implications of non-compliance.

As food products increasingly compete not only with quality and price but also on packaging, labelling and promotional claims, businesses must ensure the information they communicate to consumers is accurate, transparent and consistent with applicable regulatory requirements. Understanding these requirements is therefore essential for businesses seeking to protect their brands, maintain consumer confidence, and minimize regulatory and legal risks.

The practical workshop will go beyond an overview of regulations and focus on how businesses can apply regulatory requirements in their day-to-day operations. Participants will be guided through key areas of food regulatory compliance, including the national food regulatory framework, recent food labelling regulations and key changes, mandatory approvals and prohibitions relating to food labelling, and the litigation process associated with regulatory violations. The programme will also cover several areas of growing importance to the food industry, including the EU EMPCO Directive, food colour coding regulations, regulations relating to food trans-fatty acids and the importance of compliance in the use of food additives. Practical exercises will further enable participants to apply their knowledge to real-world compliance situations and strengthen their ability to identify potential regulatory concerns.

For further information and registration, please contact the National Chamber of Commerce of Sri Lanka on 011 4741788 – Nethmi or Udula – 071 403 4775.