Global & International Business
View all(56)Port City Colombo Expands Regional Investor Outreach to Maldives 📈
The High Commission of Sri Lanka in the Maldives and CHEC Port City Colombo (Pvt) Ltd hosted the Port City Colombo Investor Forum on 10th August 2026 in Malé. The event targeted Maldivian business leaders, investors, and developers to promote cross-border investment and regional expansion across South Asia. • Key Highlights & SEZ Incentives: • Project Scope: 269-hectare master-planned city and Special Economic Zone (SEZ). • Ownership & Capital: 100% foreign ownership with full capital and profit repatriation. • Currency Flexibility: Facilitates transactions across 16 designated foreign currencies. • Regulation: Single-window regulatory framework managed under the Colombo Port City Economic Commission Act 2021. • Banking & Strategic Presence: • Direct presence of Sri Lankan banks in the Maldives—including Bank of Ceylon, Commercial Bank of Ceylon, and Hatton National Bank—supports seamless transaction gateways. • Commercial Bank of Ceylon has opened a physical branch inside the SEZ to service investors directly. • Regional Strategy: • Follows similar investor outreach forums held in Singapore, the UAE, and Oman earlier this year. • Aims to move bilateral ties with the Maldives beyond traditional tourism and trade into high-value investment, innovation, and commercial partnerships.
📈 Sri Lanka and EU Hold Ministerial Investment Dialogue to Drive Reforms
• Key Objective & High-Level Engagement: The Government of Sri Lanka and the European Union (EU) convened a ministerial-level Investment Dialogue at Shangri-La Colombo on 31 July 2026. The session aimed to sustain investor confidence, enhance policy consistency, and expand economic cooperation under Sri Lanka's IMF-supported reform programme. • Regulatory & Policy Reforms: Following an independent Investment Climate Assessment, discussions focused on translating economic vision into practice through key reforms: - Implementation of a digital Single Window Investment Approval System - Introduction of the proposed Investment Protection Bill - Modernization of customs and industrial zones • Trade & Market Access: - Emphasized the critical importance of continued preferential market access under the EU GSP+ scheme, which expires on 31 December 2026. - Highlighted investment expansion opportunities via the EU’s Global Gateway strategy. • Key Participants: Represented by the Chairman of the Board of Investment (BOI), Deputy Ministers of Finance, Foreign Affairs, and Industries, alongside the EU Ambassador and Ambassadors of France, Germany, Italy, and the Netherlands.
📈 President Dissanayake Meets CCCC Delegation to Expand Port City & FDI Focus
• Key Discussions: President Anura Kumara Dissanayake met with a senior China Communications Construction Company Limited (CCCC) delegation led by Zhang Bingnan at the Presidential Secretariat to review ongoing and future development initiatives centered on Colombo Port City. • Sector Expansion: Citing high confidence in Sri Lanka's current economic policies, CCCC expressed interest in expanding foreign investment into key sectors including renewable energy, trade & logistics, and digital services to position the country as a regional hub. • Employment & Local Impact: CCCC committed to sourcing 90% of the workforce for its investment projects locally, supporting national employment and workforce development. • Key Attendees: The high-level meeting included Minister of Labour & Deputy Minister of Finance Dr. Anil Jayantha Fernando, Colombo Port City Economic Commission Chairman Harsha Amarasekera, alongside senior executives from CCCC and China Harbour Engineering Company (CHEC).
New Chinese Envoy Signals Deeper China-Sri Lanka Economic Cooperation 📈
• Diplomatic Leadership: Newly appointed Chinese Ambassador Wei Huaxiang has assumed office, pledging to strengthen the synergy of development strategies and expand mutually beneficial economic cooperation. • High-Level Engagement: The partnership enters a new phase following 2025 meetings between Chinese President Xi Jinping, Sri Lankan President Anura Kumara Dissanayake, and Prime Minister Dr. Harini Amarasuriya. • Core Frameworks: Reaffirmed commitments to collaborative economic projects under the Belt and Road Initiative, building on historical bilateral trade roots such as the Rubber-Rice Pact (rubber and rice trade). • Key Milestones Ahead: Serves as a prelude to 2027, which marks the 70th anniversary of official diplomatic relations and the 75th anniversary of the historic Rubber-Rice Pact.
India & Sri Lanka Reaffirm Energy Partnership & Review Key Power Projects ⚡
• Energy & Power Sector Cooperation India and Sri Lanka held high-level ministerial discussions in New Delhi to review progress on strategic bilateral initiatives, aiming to enhance regional energy security and drive clean energy transition. • Key Projects Reviewed • Proposed India-Sri Lanka HVDC interconnection project • Sampur Solar Power Project • Focus Areas & Frameworks Both countries agreed to deepen cross-border electricity trade, renewable energy integration, and transmission infrastructure. India shared its framework for transmission development using Tariff-Based Competitive Bidding (TBCB) under a Public-Private Partnership (PPP) model. • Strategic Context Led by Indian Union Minister Manohar Lal and Sri Lankan Energy Minister Anura Karunathilake, the meeting builds on India's 'Neighbourhood First' policy and Vision MAHASAGAR, supporting sustainable energy diversification for Sri Lanka.
Sri Lanka Delegation Targets Indian Market to Boost Gem & Jewellery Exports 📈
• Delegation & Mission: The Export Development Board (EDB), NGJA, and major industry associations led a delegation to India (Aug 8–13, 2026) to expand bilateral trade and open opportunities in India’s major jewellery trading hub. • Key Engagements: - Visited India International Jewellery Show (IIJS) in Mumbai to establish business linkages. - Held trade meetings with Bombay Chamber of Commerce (BCCI), MACCIA, World Trade Centre Mumbai, ICIB, and Mahratta Chamber (MCCIA). • Sector Spotlight: Promoted Sri Lanka's gem & jewellery sector, emphasizing ethically sourced natural gemstones, skilled craftsmanship, and investment partnerships. • Exhibition Promotions: Pitch included Sri Lanka Expo 2027 (Jan 14–17, 2027), FACETS 2027, Gem City Rathnapura, and Gem Sri Lanka to attract Indian buyers and investors.
📈 Sri Lanka Export Earnings Cross US$ 10 Bn in H1 2026
The National Chamber of Exporters (NCE) commended Sri Lankan exporters as total export earnings surpassed US$ 10 Bn in the first half of 2026, based on provisional Central Bank data. • Overall Performance • Total export revenue rose 3.3% YoY to US$ 10.4 Bn in H1 2026. • Merchandise exports grew 6.3% YoY to US$ 6.9 Bn, offsetting a dip in services. • June 2026 total export revenue stood at US$ 1.66 Bn. • Key Sectors & Strategic Focus • High potential highlighted in the ICT/BPM sector to broaden the export basket with high-value digital services. • Priority areas for exporters include labor availability, digitalization of trade processes, export credit, access to finance, and policy consistency. • NCE member survey (275 respondents) reflects a combined annual turnover of US$ 3.07 Bn, underlining their vital role in national employment and economic stability. • Top Export Markets & Diaspora Linkages • Major export destinations include the United States, United Kingdom, India, Australia, the Maldives, and Germany, along with emerging markets across Asia, Europe, Middle East, Africa, and Latin America. • NCE is establishing a direct platform to connect overseas Sri Lankans with local exporters to expand market access.
SL-Maldives Business Council 18th AGM: MoU Signed to Boost Bilateral Trade & SME Growth 📈
• Bilateral Trade & Market Performance - Total SL-Maldives bilateral trade reached US$ 137 Mn (2025 SL exports: US$ 132 Mn; imports from Maldives: US$ 5 Mn). - SL’s share of Maldivian imports improved to 4.7% in 2025 (up from 4.4% in 2024), against total Maldivian imports of US$ 3.6 Bn in 2025 (up from US$ 2 Bn in 2016). • Key Sectors & Growth Opportunities - MoU signed between Ceylon Chamber of Commerce and Maldives Business Chamber to drive private-sector B2B ties. - Focus on expanding SL enterprises and SMEs into hospitality, construction, renewable energy, education, digital transformation, healthcare, and professional services. - High potential identified to boost trade in tea (black tea & packaging), fresh fruit, vegetables, wheat flour, and electrical conductors. - Strategic efforts underway to position SL as a primary destination for Maldivian medical treatment under the Aasandha Scheme. • Labor Mobility & Financial Integration - Over 30,100 Sri Lankans are employed in the Maldives; Maldivian residents in SL stand at ~1,700. - Proposals submitted to establish a Bank of Maldives branch in Sri Lanka to enhance financial connectivity. - SLMBC and EDB to organize a dedicated Sri Lanka Pavilion at the 20th Hotel Asia Exhibition in Maldives (Sept 28–30, 2026).
📈 India’s Growth Drives Imperative for Sri Lankan Economic Reforms
• Strategic Alignment: Leaders and strategic thinkers at the Lanka India Business Association forum stressed that Sri Lanka must complete structural reforms to integrate into India's expanding supply chains, industrial partnerships, and technology networks. • FDI & Trade Landscape: India accounted for >50% of Sri Lanka’s inward FDI last year, backed by US$ 4.1 Bn in crisis assistance. However, high energy costs and unfair procurement practices remain major deterrents for foreign investors. • Proposed JETRO Industrial Corridor: A Japanese-proposed export corridor targeting electronics, mineral products, and rubber could boost Sri Lanka’s GDP by 9.3% by 2030 (and India’s by 1.28%) if key structural bottlenecks are solved. • Key Policy & Regulatory Reforms Needed: - Reducing minimum domestic value-addition requirements under ISFTA rules of origin from 35% to 25%. - Cutting process-level compliance barriers and lowering energy tariffs. - Modernizing public procurement to foster transparency and attract FDI. • Technology & Regional Integration: Leveraging initiatives like India's NASSCOM Disha program to mentor tech entrepreneurs in ICT/BPM and startups, using regional proximity as a core economic driver.
📈 India–Sri Lanka Textile Trade Forum Held in Colombo
The India–Sri Lanka Textile Trade Forum took place on 6 August 2026 at BMICH, Colombo, alongside the Intex Sri Lanka 2026 exhibition to strengthen bilateral supply-chain linkages. • Overall Event & Participation: Featured over 80 Indian exhibitors, Export Promotion Councils, and industry bodies showcasing capabilities across the textile value chain. Anchored by the special "Incredible Textiles of India" Pavilion, supported by PDEXCIL, TEXPROCIL, and MATEXCIL under India's Ministry of Textiles and Department of Commerce. • Key Industry Engagement: Addressed by Sri Lanka's Trade, Commerce, Food Security and Cooperative Development Minister Wasantha Samarasinghe and Deputy Industry Minister Chathuranga Abeysinghe, who highlighted trade and investment opportunities for Indian exporters in the local market. Brought together major Sri Lankan industry stakeholders, including the Joint Apparel Association Forum (JAAF), to foster business linkages. • Economic Context: Reaffirmed the apparel & textiles sector as a critical pillar of India–Sri Lanka economic relations, emphasizing deeper industry-to-industry partnerships and integration.
📈 India’s 'Viksit Bharat 2047' Vision: Key Economic & Strategic Insights for Sri Lanka
• Continuity in Development: Marking 80 years of independence, India’s drive toward Viksit Bharat 2047 reflects sustained national purpose across generations—shifting focus toward advanced manufacturing, digital public infrastructure, and technological innovation. • Regional Economic Ecosystem: A expanding Indian economy offers heightened regional integration, creating expanded opportunities for Sri Lanka’s tourism, exports, investment, and educational exchanges. • Bilateral Support & Regional Stability: India’s recent crisis assistance, disaster relief, and development in renewable energy and financial technology highlight its role as a regional economic anchor and stabilizer. • Policy Lessons for Sri Lanka: Ahead of Sri Lanka’s own 80th independence anniversary in 2028, India’s progress emphasizes long-term institutional vision over short electoral cycles, promoting economic diversification and strategic regional cooperation. • Note: Based on provisional commentary by the Pathfinder Foundation.
🇱🇰🇴🇲 Sri Lanka and Oman Advance Strategic Trade, Tech, and Economic Partnership
• Trade & Investment: Progressed negotiations on a Special Trading Arrangement to facilitate bilateral trade, boost private sector partnerships, and drive investment flows between both nations. • Digitalization & AI: Agreed to exchange expertise in public service automation and digital governance while fostering B2B partnerships between Omani firms and Sri Lanka's ICT/BPM startups. • Logistics & Connectivity: Prioritized establishing direct air cargo and maritime links, utilizing Oman as a regional transshipment hub and enhancing Indian Ocean maritime cooperation. • Diversification & Sectors: Targeted joint opportunities across tourism, agriculture, fisheries, and higher education aligned with Sri Lanka's economic transformation and Oman Vision 2040. • Labor & Employment: Focused on expanding skilled workforce mobility, accelerating a pending bilateral labor agreement, and protecting the welfare of ~28,000 Sri Lankans currently employed in Oman.