Business
Robust structural reforms and macroeconomic stability seen as vital to ensuring FDI inflows

By Ifham Nizam
The National People’s Power (NPP) government to enhance Foreign Direct Investment inflows, must continue to implement robust structural reforms, maintain macroeconomic stability and address vulnerabilities in the financial sector, senior Chartered Accountant Heshana Kuruppu said.
Kuruppu, who is the President of CA Sri Lanka and President of the South Asian Federation of Accountants, speaking to The Island Financial Review stressed that consistent and transparent policies, along with efforts to improve infrastructure and reduce bureaucratic hurdles, will be essential in rebuilding investor confidence and fostering a conducive environment for long-term investments.
Extracts from the interview;
Q: How do you perceive the new government’s economic initiatives in terms of their potential impact on local businesses?
A: NPP’s current proposal is for an interim government until parliamentary elections occur. Thus, it’s uncertain if they will implement major initiatives outlined in their policy framework. A new budget must be presented to parliament for any significant changes, which won’t happen with the existing parliament. Consequently, it’s too soon to assess the impact on local business.
Q: Which sectors do you think will benefit the most from these initiatives, and which ones might face challenges?
A: As highlighted above, it is too early to comment on the sectors going to have an effect. However as per the policy statement NPP has identified several priority sectors, such as, ICT, Fisheries, Construction, Agriculture, Tourism, Creative sectors (Art, Cinema, Music) etc.
Q: How prepared are businesses in Sri Lanka to adapt to these new policies?
A: Sri Lankan businesses seek consistent policies, whether fiscal, investment or labor-related. Despite past inconsistencies, the private sector has significantly contributed to economic growth. Consistency could have unlocked greater potential. Political parties need to support this now and the NPP appears to share this view, having promised private sector-friendly policies.
Q: How will these initiatives influence tax policies and what are your expectations regarding changes in corporate taxes?
A: Following the crisis, low and middle-income earners faced significant challenges. Their disposable income decreased due to taxes and the cost of living rose markedly. Despite low inflation, high living costs persist since incomes haven’t adjusted accordingly. The election results clearly show their dissatisfaction.
The incoming President and new administration will face the challenge of addressing these needs. To satisfy this segment, taxes need to be reduced, safety nets increased, or both. However, these actions should not strain the government budget as borrowing is not an option.
Conversely, achieving a sustainable solution in the mid to long term relies on real GDP growth. However, this requires a boost in capital expenditure. Yet, raising capital expenditure might result in a budget deficit.
Therefore, a careful strategy is needed to manage these conflicting demands. I don’t anticipate significant changes in corporate taxes in the near future.
Q: What is your opinion on the new President’s focus on the promotion of entrepreneurship and innovation in the business sector?
A: Key initiatives of the entrepreneurship policy include creating strategic think tanks, introducing tailored taxation frameworks and enhancing investment protection legislation. The policy emphasizes supporting micro, small, and medium-sized enterprises (MSMEs) through specialized divisions, collateral-free loans and cooperative business models.
Additionally, it focuses on optimizing industrial zones, adopting sustainable practices and leveraging digital technology to drive innovation and market efficiency. The overarching goal is to create a conducive environment for entrepreneurship, ensuring affordable infrastructure and transparent market operations.
These are all good initiatives. Historically, many promising proposals appear in election policy statements and sometimes in budget plans, but very few are actually implemented. Let’s hope this time is different.
Q: Do you think the new policies are sufficient to attract foreign direct investment (FDI)? Why or why not?
A: Regardless of whether policies are new or existing, their consistency is what truly matters.
Maintaining consistent policies is vital for drawing and keeping FDI. Predictable regulations, lower risks tied to sudden changes, aiding long-term investment planning are important. Conversely, inconsistent policies can deter investors by creating uncertainty and unexpected costs. Frequent alterations in tax laws, labor rules or trade policies can lead to an unstable business climate, deterring foreign investors.
In addition, economic and political stability is crucial for attracting Foreign Direct Investment (FDI), as it provides a predictable environment for investors. Sri Lanka’s recent economic challenges, including high inflation, currency depreciation and a significant debt burden, have created a complex landscape for potential investors. However, the country is showing signs of stabilization, with moderate growth projected at 2%-3% in 2024.
Business
New Seafarer Welfare Centre launched in Colombo to support maritime workforce

By Sanath Nanayakkare
A new welfare centre named “The Palace,” established by the International Transport Employees’ Federation (ITF) in collaboration with Sri Lanka’s National Union of Seafarers (NUSS), was recently inaugurated in Colombo. The facility aims to address the physical, mental, and legal needs of seafarers, with a focus on both local and international maritime workers transiting through Colombo’s port and airport.
NUSS President Boa Athu stated that the centre anticipates serving 800–1,000 seafarers in its first year, with plans to expand services as demand grows. While priority access is given to NUSS members and ITF-affiliated seafarers, the facility will also welcome foreign crew. Athu emphasized that non-members are encouraged to join NUSS for full benefits, calling it a “win-win” for affordability and accessibility.
The centre is funded entirely by NUSS and the ITF Seafarers Trust, with no direct government or private-sector partnerships. Athu expressed confidence in long-term sustainability, citing plans to enhance service quality and membership growth as key strategies to navigate economic challenges.
“The Palace” will provide family-friendly accommodations, mental health workshops, a gym, recreational spaces, and medical services. A dedicated ITF inspectorate, led by veteran official Ranjan Perera, will handle crisis support such as abandonment cases, wage theft recovery, and emergency repatriation. Perera’s team has already repatriated a seriously injured seafarer and reclaimed over $3 million in stolen wages.
Colombo was selected due to its status as a major transit hub for seafarers in South Asia. While the centre addresses gaps in regional welfare infrastructure, Athu revealed plans to launch similar facilities outside Colombo in the future.
English will serve as the primary language, though staff training and peer support among seafarers aim to bridge cultural and linguistic gaps. The centre also offers a mental health hotline (1331) and a mobile app, which will be upgraded to integrate “The Palace’s” services.
Key performance indicators include annual occupancy rates, the number of members served, and reductions in issues like abandonment. ITF and NUSS will jointly monitor outcomes to ensure effectiveness.
The centre pledges support for seafarers caught in conflicts or disasters, such as those navigating the Red Sea crisis. “Our doors will always be open in emergencies,” Athu affirmed.
The initiative aligns with ITF and NUSS goals to elevate seafarer welfare standards globally and support Sri Lanka’s ambition to add 50,000 new seafarers to its workforce. “We’re all singing from the same songbook,” said Athu, calling the project a “challenging but exciting” step forward for the industry.
The launch underscores Colombo’s growing role in maritime welfare, combining local expertise with international partnerships to safeguard seafarers in an increasingly complex global trade landscape.
Business
Dialog Enterprise and Huawei drive digital innovation with Wi-Fi 7

Dialog Enterprise, the corporate ICT solutions arm of Dialog Axiata, continues to lead the way in delivering enterprise-grade wireless connectivity, empowering businesses with high-performance networking solutions. As a pioneer in Business Connectivity, Dialog Enterprise has deployed advanced wireless connectivity solutions across corporate offices, industrial factory floors, and leading hospitality venues, ensuring seamless connectivity tailored to the unique demands of each sector.
Taking a significant step forward, Dialog Enterprise, in collaboration with the global technology innovator Huawei, has now deployed Sri Lanka’s first Wi-Fi 7 network at two key partner locations: the Sri Lanka Institute of Information Technology (SLIIT) and The Kingsbury Hotel. These deployments mark the beginning of a nationwide transformation, bringing next-generation wireless capabilities to organisations that demand high-speed, ultra-reliable, and secure connectivity.
Wi-Fi 7 is designed to cater to environments with high traffic, a vast number of connected devices, and extreme throughput requirements. Using the latest 6 GHz spectrum, 4K-QAM modulation, and Multi-Link Operation (MLO), Wi-Fi 7 delivers speeds up to four times faster than its predecessor, with significantly lower latency. This makes it ideal for industries requiring real-time collaboration, high-definition video streaming, large-scale cloud applications, and AI-driven operations.
At SLIIT, the Wi-Fi 7 deployment enhances virtual learning, collaborative research, and an enriched student experience, supporting the institution’s digital-first approach to education. At The Kingsbury Hotel, ultra-fast, high-capacity Wi-Fi ensures guests enjoy buffer-free streaming, seamless remote work, and smart room integrations for an enhanced hospitality experience. Beyond education and hospitality, Wi-Fi 7 has the potential to impact industries such as healthcare, manufacturing, and security. It could enable real-time telemedicine, rapid transfer of large medical files, and IoT-enabled smart medical devices in healthcare. In manufacturing, the ultra-fast network may support smart factory automation, seamless device communication, and predictive maintenance analytics. For security and defence, Wi-Fi 7’s low latency and advanced encryption capabilities could enhance real-time surveillance and rapid data processing for critical infrastructure.
“Wi-Fi 7 represents a major leap in connectivity, enabling industries to meet growing digital demands with greater speed, capacity, and security. Our partnership with Dialog Enterprise ensures businesses benefit from cutting-edge wireless solutions that drive innovation and efficiency,” said Hao Zhiqiang, Vice President, Sri Lanka Enterprise Business of Huawei.
“Wi-Fi 7 represents a transformative leap in connectivity, enabling organisations to meet the ever-growing demands of digital transformation. Whether in education, hospitality, or enterprise, our goal is to provide cutting-edge wireless solutions that deliver exceptional performance, reliability, and security,” said Navin Pieris, Group Chief Officer of Dialog Enterprise. “Our collaboration with leading global partners ensures we bring best-in-class innovations to our customers, helping them stay ahead in a hyper-connected world.”
Business
Aitken Spence Travels secures prestigious CPM Best Management Practices Award for second consecutive year

Aitken Spence Travels, Sri Lanka’s premier destination management company, has once again demonstrated its industry leadership by winning the prestigious CPM Best Management Practices Company Awards (BMPC) 2025 under the Hospitality and Tourism Services category. This marks the second consecutive year that Aitken Spence Travels has been honoured in this category, reaffirming its status as an unparalleled leader in the travel and tourism sector.
This successive win signifies Aitken Spence Travels’ unwavering commitment to raising the bar within the travel and tourism sector. By continuously implementing and recognising best management practices, the company embraces the importance of management practices that are practical and always offers a solution for the overall efficiency of the company and the industry as a whole, solidifying Aitken Spence Travels’ position as a leader in travel and tourism.
The “Best Management Practices Company Awards 2025,” is organised by the Institute of Chartered Professional Managers of Sri Lanka (CPM Sri Lanka), as a commitment to championing the best management practices of the public and private sector organisations. The awards held in its third consecutive year due to its overwhelming success of the editions acknowledge outstanding leadership, commendable policies and strategies, effective people management, successful partnerships, resource utilisation, streamlined process and outstanding performance. The awards not only applaud excellence but also served as a valuable framework for management teams to reassess and challenge themselves within the context of their respective organisations. The applicants are subject to a rigorous evaluation process that include a comprehensive report submission followed by a presentation before an esteemed panel of judges. The awards endorse the best management practices of companies during the year.
Commenting on this remarkable achievement, Stasshani Jayawardena, Chairperson of Aitken Spence PLC and Head of the Tourism sector of Aitken Spence PLC inclusive of hotels, destination management and overseas travel, stated, “As the market leader, this recognition to Aitken Spence Travels further establishes that best management practices can be implemented and shared for the greater good of the industry and signifies the competence of our team to better serve our customers”.
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