Business

SL’s education sector, ‘key battleground for long term economic recovery’

Published

2 years ago

2024/10/18

By Ifham Nizam

As Sri Lanka faces the aftershocks of multiple crises, including the COVID-19 pandemic, economic downturn and the Easter Sunday attacks, the country’s education sector has become a key battleground for securing long-term economic recovery, according to Institute of Policy Studies (IPS) Research Fellow Dr. Bilesha Weeraratne.

In an expert panel discussion recently in Colombo, IPS stakeholders explored the critical role of education in building a skilled workforce, while also highlighting the immense challenges that must be addressed to turn education into a catalyst for growth.

Weeraratne said that with Sri Lanka suffering a negative growth rate of 6.7% by the third quarter of 2023, the labour market remains one of the hardest-hit areas.

Weeraratne added: “As wages stagnate, the incentive for workers to improve their skills or seek better employment dwindles, feeding into a cycle of low productivity. Thus crisis management has prompted emergency measures, like the five-year no-pay leave policy for public sector employees.” However, she explained that these are short-term fixes that do not address the deeper structural issues plaguing the labour market.

Weeraratne stressed that education is seen as a powerful tool to break this cycle, but the sector itself has been grappling with severe disruptions and underfunding, she said, adding that Sri Lanka’s education system is crucial in fostering productivity and innovation, but it faces serious hurdles.

Her presentation delved into the many challenges facing education. From the 2019 Easter bomb attacks to the pandemic and ongoing economic crises, these external pressures have led to a decrease in education investments, depreciating resources, and the adoption of outdated approaches that struggle to meet the demands of a rapidly changing labour market.

IPS, Director of Research, Dr. Nisha Arunatilake said that one alarming statistic revealed that while 97% of children aged 5 to 16 are enrolled in school, a significant proportion—especially those with special needs or from deprived socioeconomic backgrounds—are left behind. After the compulsory education age of 16, participation drops drastically, with only 63% qualifying for advanced level exams and just 20% attending university due to capacity issues.

She noted that Sri Lanka’s education system is ill-equipped to handle the demands of an evolving job market driven by technological change. `The need for highly skilled workers is growing, but 65% of 20 to 24-year-olds are not engaged in any form of education, leading to a poorly skilled workforce. While the government has made efforts to introduce vocational training, these programs have not scaled up sufficiently to address the needs of the economy.’

Worse still, she said, the quality of education is lagging. A 2019 study by NEREC revealed that students’ English and mathematics skills are well below international standards. Students scored an average of just 34% in English and a dismal 20% in mathematics, signaling a serious gap in the education system’s ability to prepare children for a globalized, technology-driven future.

Arunatilake added: `Compounding the issue is the unequal allocation of resources across Sri Lanka’s education system. Elite schools receive the majority of well-trained teachers, while rural schools, which often serve lower-income families, suffer from poor staffing and inadequate resources. Meanwhile, policy inconsistency—driven by frequent changes in education ministers and short-term priorities—has stymied long-term progress.’

‘Given the current economic constraints, while increasing funding is ideal, it is not feasible in the short term. Instead, innovative low-cost solutions could offer a way forward. Examples could be given from Pakistan, where technology is being leveraged to provide education to children with special needs and virtual labs are being used in rural areas to deliver hands-on learning experiences.

‘Stronger governance and better allocation of resources are needed. Sri Lanka’s education system has suffered from weak policy implementation and political interference. Improving governance, addressing resource inequalities, and strengthening disaster risk management are among the key recommendations.

‘While Sri Lanka’s education system faces formidable challenges, it remains a pivotal force in rebuilding the nation’s economy. If the government can implement effective reforms and tap into technological solutions, the country could better equip its youth with the skills needed to thrive in an increasingly digital and globalized world.’

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Business

SLEIS 2026 to examine how Sri Lanka can strengthen its place in Asia’s growth networks

Published

22 hours ago

2026/09/16

Sahan Weerasooriya

Ambassador Akio ISOMATA / Chathuranga Abeysinghe / P.D. Singh

As Asia continues to account for a growing share of global economic activity, Sri Lanka faces an important opportunity to strengthen its links with regional trade networks, supply chains and economic corridors. How the country can make better use of these connections to attract investment, expand trade and strengthen its position in regional value chains will be among the key questions at the Sri Lanka Economic & Investment Summit 2026, organised by The Ceylon Chamber of Commerce on 12-13 October 2026.

Titled “Linking Sri Lanka to Asia’s Growth Networks: Trade, Corridors, and Value Chains,” the session will examine the opportunities for Sri Lanka to deepen its integration with the wider Asian economy and build stronger connections with regional and global markets.

The session keynote will be delivered by P.D Singh – Chief Executive Officer, India and South Asia, Standard Chartered Bank. He will be joined for a panel discussion by Chathuranga Abeysinghe – Deputy Minister of Industry and Entrepreneurship Development, Akio ISOMATA – Ambassador of Japan to Sri Lanka, MASAAKI Kawabata – Chairman – Toyota Lanka (Private) Limited, and Ravi Jayawardena – Group Chief Executive Officer-Maliban Biscuits (Private) Limited. The session will be moderated by Ms. Subhashini Abeysinghe – Research Director- Verité Research.

For Sri Lanka, stronger regional integration can open opportunities beyond traditional export markets. Greater participation in regional supply chains, improved trade connectivity and closer links to economic corridors can support investment in areas such as logistics, manufacturing, export services and other sectors connected to international production networks.

The discussion will consider what Sri Lanka needs to do to strengthen its position within these networks, including improving trade connectivity, attracting investment and creating a business environment that enables companies to participate more effectively in regional and global value chains.

It will also look at the experience of businesses and international institutions operating across the region, providing perspectives on how companies assess markets, build supply chains and identify locations for investment. With supply chains and investment flows increasingly shaped by regional connectivity, the session will also consider the partnerships and strategies needed to position Sri Lanka as a more competitive participant in Asia’s growth networks, while creating opportunities for trade, investment, innovation and economic growth.

The session will form part of the second day of SLEIS 2026, held under the theme “Positioning Sri Lanka in a Changing Global Economy: Resilience, Reform, and the Future of Economic Policy.”

The Sri Lanka Economic & Investment Summit 2026 is supported by its valued sponsors and partners. Platinum Sponsor – Standard Chartered Bank Sri Lanka, Gold Sponsor – VISA Worldwide (Pvt) Ltd., Bronze Sponsor – South Asia Gateway Terminals (Pvt) Ltd., Strategic Development Partner – Asian Development Bank, Telecommunication Partner – Dialog Telecommunication, Television Partner – Dialog Television, Session Sponsors – David Pieris Motor Company (Pvt) Ltd., Hemas Holdings PLC, Sunshine Holdings PLC, International Construction Consortium (Pvt) Ltd., Official Logistics Partner – Hayleys Advantis Limited, Official Airline – SriLankan Airlines Ltd., Official Hospitality Partner – Shangri-La Colombo, Airline Partner – China Eastern Air Holding Co. Ltd.

Registrations are now open at https://sleis.chamber.lk/. For more information, contact Alikie on 011 558 8805 (alikie@chamber.lk) or Shanuka on 0701082541 (events.division@chamber.lk).

Business

AAC launches seat belt safety awareness initiative with RDA Colombo

Published

22 hours ago

2026/09/16

Sahan Weerasooriya

The Automobile Association of Ceylon (AAC), in collaboration with the Road Development Authority (RDA) and Police – Traffic Division, will conduct a special Road Safety Awareness Programme to promote the importance of wearing seat belts in vehicles specially on the express highways in order to reduce road fatalities and serious injuries.

The official handing-over ceremony took place at the Chairman’s Office of the Road Development Authority on 14th September 2026, where specially designed Seat Belt Safety Hanging Tags & Stickers prepared by the Automobile Association of Ceylon were handed over to the RDA for distribution to motorists at entry points to the expressways.

The initiative is being conducted in connection with the seat belt law coming into effect on 19th September 2026 and is intended to create greater public awareness of the importance of wearing seat belts in both the front and rear seats of vehicles.

Representing the Automobile Association of Ceylon at the ceremony Dhammika Attygalle, President; Prasanna De Zoysa, Sectional Chairman – Road Safety; and Devapriya Hettiarachchi, Secretary, Senior Superintendent of Police -Traffic Sisira Peththrathanthri, participated in the programme.

The Automobile Association of Ceylon has consistently maintained that road safety is one of its foremost priorities. Through awareness campaigns, educational programmes and collaboration with government authorities and other stakeholders, the Association continues to encourage responsible driving and safer behaviour among all road users.

AAC believes that the proper use of seat belts, including by rear-seat passengers, is a simple but vital safety measure that can help reduce serious injuries and save lives in the event of a road crash.

The programme further strengthens the cooperation between the Automobile Association of Ceylon, the Road Development Authority and the Police in their shared commitment towards safer roads and saving lives in Sri Lanka.

Business

Sanath Jayasuriya as Brand Ambassador

Published

22 hours ago

2026/09/16

Sahan Weerasooriya

Mr. Dasun Wickramarathna, Chairman Global Housing & Real Estate (Pvt) Ltd with Sanath Jayasuriya, World Renown Personality & Brand Ambassador

Global Housing & Real Estate (Pvt) Ltd (GHR) has announced a landmark partnership with Sri Lankan cricket legend Sanath Jayasuriya, as its Brand Ambassador as GHR enters a new chapter in its journey within Sri Lanka’s luxury real estate sector.

The partnership was officially unveiled at a press conference held at Cinnamon Life, Colombo, on 14 September 2026, bringing together industry leaders, investors and members of the media under the theme “Two Gamechangers, A New Beginning.”

The collaboration brings together two names associated with challenging convention in their respective fields: Sanath Jayasuriya, whose fearless approach transformed the dynamics of international cricket, and GHR, which has sought to introduce new approaches to property investment and luxury living in Sri Lanka.

Over the past two decades, GHR has built its presence in Sri Lanka’s real estate sector with a focus on quality, structural integrity and long-term investment value.

A significant milestone in the company’s journey came in 2016, when GHR introduced the hotel residency concept to the Sri Lankan market. The model brought together luxury hospitality and real estate investment, creating opportunities for property ownership with the potential to generate investment returns while contributing to the growth of the country’s high-end tourism offering. GHR has since continued to expand its portfolio across key destinations in Sri Lanka.

Speaking at the announcement, Dasun Wickramarathna, Chairman of Global Housing & Real Estate (Pvt) Ltd, said, “For over twenty years, Global Housing & Real Estate has strived to push the boundaries of what property development can achieve in Sri Lanka. As pioneers who introduced the hotel residency concept back in 2016, our mission has always been clear: to provide high-yield investment opportunities for our clients while taking Sri Lanka’s condominium industry into a new frontier.”

Commenting on the decision to partner with Sanath Jayasuriya, he added, “When looking for a voice to represent GHR’s ethos, Sanath Jayasuriya was the natural choice. Just as Sanath disrupted traditional international cricket and redefined how the world viewed the opening overs, GHR challenged traditional approaches to real estate and established a new benchmark in luxury living. This partnership represents a true convergence; Two Gamechangers, A New Beginning.”