Business
Sri Lanka’s foremost economic challenges
By Lynn Ockersz
From a macroeconomic perspective, an accelerated economic revival post-COVID-19 through an inclusive national development strategy, debt refinancing and strengthening public finance, are among the foremost economic challenges facing Sri Lanka at present. Going forward, there will be a strong focus on agriculture in ensuring food security, along with more attention being given to local manufacturing and industries, CEO, Ceylon Chamber of Commerce Manjula de Silva said.
Answering a series of questions posed to him by ‘The Island Financial Review’ CEO Manjula de Silva said, among other things, that energizing the local SME sector was one of the CCC’s core areas of concern.
The questions and answers were as follows:
* What are the main challenges facing Sri Lanka at present?
Main challenges from a macroeconomic point of view will be accelerating economic revival post-Covid-19 through an inclusive national development strategy, debt refinancing and strengthening public finance.
There are structural reforms required to ensure growth in several key focus areas such as digitization, health, education, food security, energy sufficiency and public enterprises.
* In what principal directions do you see the local economy evolving?
There would be a greater focus on agriculture in driving food security. We will also see more attention given to local manufacturing and industries. We hope the focus would drive competitiveness in the industry so these sectors not only cater to the domestic demand but also reach foreign markets.
* How best could Sri Lanka’s export sector be revived?
The continuation of the National Export Strategy by the government is welcome as it was a joint public and private sector strategy to drive exports. It can now be enhanced to look at the Post-COVID-19 opportunities as well.
We also need to resolve some of the domestic barriers to export that limit competitiveness. Key initiatives like the establishment of a National Single Window and a new Customs Ordinance, which have both been in the pipeline should be prioritized. This will support both domestic and international trade.
* What are your proposals for energising the local SME sector in the short and medium terms?
This is a key area for the Chamber and in our Sri Lanka Economic Acceleration Framework launched last year, we had several specific proposals. Some of these proposals include streamlining the state institutions catering towards SMEs, improving access to Finance and Markets and scaling up SMEs.
The Ceylon Chamber of Commerce recently established the Centre for SMEs creating a focal point for delivery of existing services the Chamber was providing to SMEs. The Chamber will continue to assist and guide SMEs through Capacity Building Initiatives, Business Advisory services and facilitating market and business linkages. We will continue to also work to resolve existing regulatory and compliance barriers faced by SMEs in both domestic and international markets.
* Any suggestions for further developing local entrepreneurship?
The Ceylon Chamber believes that promoting local entrepreneurship is key to accelerating economic development in a sustainable and inclusive manner. Hence, the Chamber will establish a Start Up Council soon under its umbrella to encourage and foster start-ups that have potential to turn into successful business ventures that will contribute to generation of both employment opportunities and export revenue.
Company stresses ambition to surpass this milestone
Eyes markets across Africa and beyond
In a groundbreaking achievement for Sri Lanka’s IT and electronics manufacturing industry, EWIS Colombo Ltd, the country’s first and only local computer manufacturer, has successfully exported its first consignment of locally built laptops to Zimbabwe.
This landmark event not only positions Sri Lanka as an emerging force in global IT hardware manufacturing but also highlights EWIS’s commitment to innovation, quality, and excellence on the international stage.
This historic shipment, dispatched from EWIS’s state-of-the-art manufacturing facility in Samajasewapura, Sooriyawewa, underscores the company’s dedication to delivering world-class technology solutions. With over 11 years of expertise in manufacturing and assembly, EWIS Colombo Ltd has played a pivotal role in driving Sri Lanka’s ICT sector forward. As a Board of Investment (BOI) Section 17-approved company, EWIS has established the country’s first and only local computer manufacturing plant, paving the way for the nation’s growth in high-tech exports.
Speaking on this momentous achievement, Sanjeewa Wickramanayake, Chairman of EWIS Colombo Ltd, said: “This milestone is not just for EWIS but for Sri Lanka as a whole. It proves that our country has the talent, capability, and ambition to manufacture and export high-quality IT products, competing confidently on the global stage. As we continue expanding beyond local markets, we take immense pride in showcasing Sri Lanka’s excellence in technology and innovation to the world. EWIS’s commitment to world-class quality is reinforced by its ISO 9001:2015, ISO 14001:2015, CE, FCC, and RoHS certifications, ensuring compliance with international quality, safety, and environmental standards.”
Speaking further he said:
“For nearly four decades, EWIS has been a trailblazer in Sri Lanka’s ICT sector, delivering cutting-edge solutions for education, businesses, and government enterprises.
With over 11 years of local manufacturing and assembly expertise, EWIS has continuously refined its capabilities to produce high-quality, internationally competitive IT hardware. The successful export to Zimbabwe represents a bold step toward expanding EWIS’s global footprint, reinforcing Sri Lanka’s potential as a world-class technology and manufacturing hub.”
Dialog Television, Sri Lanka’s #1 Pay-TV service provider, has partnered with Emerging Media to enhance the convenience and effectiveness of advertising. This collaboration brings together Dialog Television’s world-class entertainment, featuring 18 advertisable channels across genres such as movies, edutainment, kids, music, sports, and local content, with Emerging Media’s expertise in digital advertising and targeted marketing. This synergy creates a seamless platform for businesses to maximize brand exposure across multiple channels.
With a reach of over 1.7 million households, Dialog Television provides advertisers with a powerful avenue to engage diverse audiences. Brands can place advertisements on leading international and local channels such as &flix, Star Movies, TLC, Animal Planet, AXN, Zee Café, Comedy Central, Star Plus, A+, Nickelodeon, Star Vijay, Zee Tamil, Star Sports, Ten Cricket, Sony SIX, ThePapare TV, Channel One, Citi Hitz and Channel C. Through this partnership, Emerging Media will facilitate advertising sales, allowing businesses to target specific viewer segments while simplifying the media buying process with a single point of contact.
Commenting on the partnership, Lim Li San, Group Chief Operating Officer at Dialog Axiata PLC, stated, “As Sri Lanka’s premier Pay-TV service provider, we serve more than 1.7 million households with over 6 million pairs of captive eyeballs across Sri Lanka. Today, we are excited to embark on this partnership with Emerging Media to avail our Dialog Television platform and brand strength to provide quality advertisement exposure and customer engagement to local businesses across Sri Lanka.”
The International Institute of Health Sciences (IIHS), a pioneer in healthcare training for over 23 years, has partnered with the University of Surrey, UK, to revolutionise healthcare education in Sri Lanka and the broader South Asian region. This will create a world-class academic pathway for aspiring nursing and healthcare professionals, as well as young individuals seeking careers in the field. Under this agreement, IIHS and the University of Surrey will introduce a series of academic initiatives to enhance healthcare training and accessibility.
These include delivering internationally recognised nursing programmes that allow Sri Lankan and regional students to earn globally competitive qualifications in Sri Lanka.
Commenting on the move, Dr. Kithsiri Edirisinghe, CEO & Dean of Undergraduate Studies at IIHS, said: “This MOU marks a significant step in our mission to deliver world-class healthcare education to Sri Lanka and the region. IIHS remains dedicated to shaping the future of healthcare professionals and fostering global healthcare leadership.” Dr. Shelini Surendran, Associate Dean (International) at the University of Surrey, emphasised: “Sri Lanka is establishing itself as a regional education hub, and this partnership ensures students across Asia can access top-tier UK healthcare education at IIHS. By bridging academic excellence with accessibility, we provide students with a clear pathway to their professional goals.”
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