Product & Service Launches / Business Expansions
View all(108)🇱🇰 Yaden Laboratories Historic Debut at CPHI Europe 2026 📈
Sri Lankan pharmaceutical manufacturer Yaden Laboratories Ltd. became the first local producer to exhibit at CPHI Europe 2026 in Milan, Italy (6–8 October), marking a landmark step for the nation's export capabilities. • Key Highlights & Scale: • Showcased alongside 2,900+ global exhibitors and 62,000+ industry professionals from over 166 countries. • Features advanced capabilities in sterile injectable pharmaceutical manufacturing. • Strategic & Economic Impact: • Supports Sri Lanka’s transition from an import-dependent market to a global pharmaceutical exporter. • Aims to save foreign exchange, enhance local access to quality medicines, and drive high-value export earnings. • Strengthens national efforts in economic diversification, skilled employment creation, and foreign investment attraction.
📈 Dipped Products PLC Opens Rs. 4.2 Bn Glove Plant in Katunayake EPZ
• Key Highlights: Hayleys Group subsidiary Dipped Products PLC (DPL) commenced operations at its new manufacturing plant in the Katunayake Export Processing Zone on 8 October 2026, following a Rs. 4.2 Bn investment. • Strategic Value & Impact: The facility expands DPL’s production capacity for value-added export gloves, aiming to enhance foreign exchange earnings and strengthen Sri Lanka’s position in high-value rubber exports. • Operational Scale: DPL operates 5 manufacturing facilities in Sri Lanka and 2 in Thailand, alongside dedicated distribution hubs across Italy, France, Poland, India, and the Middle East. • Employment: DPL employs a total workforce exceeding 18,207 personnel across its manufacturing and plantation divisions.
Indra Traders Expands FOTON Service Infrastructure in Ja-Ela 📈
• Key Highlights & Investment: - Sole agent Indra Traders opened a dedicated FOTON Service Center in Ja-Ela, tailored for large vehicles over 12 meters. - Backed by over LKR 200 Mn in stocked spare parts to enhance maintenance reliability and minimize fleet downtime. - Planned expansion includes a new sales center opening in Kelaniya. • Fleet & Sector Footprint: - Supports Sri Lanka's growing commercial vehicles segment, including 114 FOTON Metro buses supplied to the public transport sector. - Serves small trucks (e.g., Foton Double) to heavy commercial fleets. • Partnership Milestones: - Capitalizes on a nearly 20-year partnership between Indra Traders and Foton Motors of China (est. 2006, vehicles introduced in 2008).
🎬 'Teardrop Nation' Documentary Series Launched to Explore Sri Lanka's Post-Independence History
• Overview & Launch: 'Teardrop Nation,' a 4-part documentary series covering Sri Lanka’s political and conflict history from independence to 2009, was formally premiered at Scope Cinemas, Colombo City Centre on 8 October. Bimal Rathnayake attended as Chief Guest. • Production Details: Developed over 6 years by Project 72, the initiative was led by Project Director Sarah Kabir, alongside Research Lead/Archival Producer Ramla Wahab-Salman and Associate Director Kris Thomas. • Key Episode Structure: • Episode 1: Foundations of Conflict (1930s–1970s) • Episode 2: The Trigger (1970s–1980s) • Episode 3: Battle for Peace (1980s–late 1990s) • Episode 4: War in Paradise (1990s–2009) • Objectives: Designed as an educational resource to engage younger generations, promote reconciliation, and foster public discussion on social, political, and ethnic drivers of historical conflict to support non-recurrence.
🚗 BYD Launches RACCO Electric KEI Car in Sri Lanka
BYD and authorized distributor John Keells CG Auto have officially introduced the BYD RACCO to Sri Lanka, marking the model's first market release outside Japan following its July debut. • Market Entry & Scale: Sri Lanka becomes the second country globally to receive the RACCO electric KEI car. The model was unveiled simultaneously across Colombo, Kandy, and Galle, and is now available across a 10-city islandwide showroom network including Kurunegala, Rathnapura, Moratuwa, Negombo, Batticaloa, Ampara, and Jaffna. • Performance & Specs: Built to meet Japan's strict KEI car standards for safety and space efficiency, RACCO has recorded over 1,500 unit sales in Japan since its launch. • Economic & Industry Relevance: Positioned as a versatile family and small-business vehicle, the introduction of an affordable electric KEI car targets cost-effective daily transport and expands adoption in Sri Lanka's automotive and emerging New Energy Vehicle (NEV) sector.
MTI and Skift Appointed to Strategise Sri Lanka’s 5-Year Global Tourism Campaign 📈
• Overview: International consultancies Skift and MTI Consulting have been selected by the Tourism Ministry and the World Bank to develop a Global Destination Communication Campaign Roadmap for Sri Lanka. • Campaign Strategy: The scope includes a 5-year global promotional campaign strategy backed by market intelligence, pre-launch support for the Sri Lanka Tourism Promotion Bureau (SLTPB), and a campaign management blueprint. • Key Objectives: Modernise national destination messaging to ensure it is insight-driven, internationally benchmarked, and reflective of Sri Lanka’s authentic identity. • Funding & Framework: Project falls under the THRIVE (Tourism for Heritage, Resilience, Inclusion and Value-Driven Employment) initiative and is supported by the World Bank’s Grant Facility for Project Preparation (GFPP).
📈 Richardson Projects Partners with Global Leader Axalta for Powder Coatings
• Strategic Partnership: Richardson Projects (subsidiary of Richardson Holdings) appointed official agent and distributor for global performance coatings giant Axalta Coating Systems in Sri Lanka. Unveiled at ITC Ratnadipa, Colombo. • Industry & Sector Impact: Addresses surging material demand across Sri Lanka's growing construction & real estate, aluminium, and industrial sectors amid rising project volumes and market competition. • Operational Value: - Combines Axalta’s 150+ years of global coating tech expertise with Richardson’s 20-year local track record. - Supplies high-performance architectural coatings featuring enhanced UV resistance, gloss retention, and corrosion protection. - Supports local applicators in achieving 'Approved Applicator' status for extended manufacturer warranty eligibility and competitive project tendering. - Provides on-the-ground technical support and application equipment diagnostics to ensure quality standards.
🤖 99x Launches AI Hub to Accelerate AI-Led Delivery in Sri Lanka
Global product engineering firm 99x has launched an internal AI Hub to monitor and optimize AI-assisted workflows across productivity, quality, costs, and customer value, positioning Sri Lanka as a leader in AI-led IT delivery. • Core AI Strategy & Operations • AI transformation built on 3 key pillars: tools/platforms, AI-led delivery processes, and people. • 90% of 99x teams have adapted from traditional Agile to AI-led delivery processes. • 100% of employees trained across 23 programs, totaling over 6,500 training hours. • ICT/BPM Talent & Role Evolution • Shift moves engineers away from repetitive tasks toward higher-value roles like problem-solving and customer engagement (e.g., Forward Deployed Engineers). • Leadership emphasized that Sri Lankan engineering talent remains globally competitive against European, Nordic, and US counterparts. • Active university pipeline collaboration across public and private universities (Moratuwa, Colombo, Peradeniya, Jaffna, Uva Wellassa). • Global Operations & Market Reach • 99x Agent Control Plane (Xians.ai) named ‘Best Agentic AI Solution’ at National AI Awards 2026. • Core growth focus remains on Sri Lanka, the Nordic region (with Sweden as an expansion hub), and the US.
📲 LOFC’s iPay Business Launches 'Wyapara Balaganwayi' to Empower Local Merchants 📈
• Overview: iPay Business, powered by LOLC Finance, introduced the “Wyapara Balaganwayi” proposition—a digital ecosystem providing accessible payment acceptance, transaction management, and business tools for Sri Lankan start-ups, SMEs, and established enterprises. • Key Payment Acceptance Solutions: • Tap & Pay: Turns NFC-enabled smartphones into card payment terminals. • HardPOS: Dedicated terminals supporting cards, QR payments, auto settlement, voids, and Pay by Link. • Broad Payment Integration: Accepts LankaQR alongside international options like UPI, Alipay+, WeChat Pay, and UnionPay for local consumers and foreign tourists. • Merchant Incentives & Features: • Fully digital onboarding via the iPay Business App without requiring branch visits. • 0% commission on local LankaQR transactions below Rs. 5,000 (subject to T&Cs). • Internet Payment Gateway (IPG) for e-commerce without fixed monthly/annual charges. • Economic Context & Future Roadmap: Designed to boost digital commerce adoption and financial inclusion. The platform plans to expand into analytics, AI-driven business insights, HR tools, and accounting capabilities to foster sustainable SME growth.
BOI Fast-Tracks Paranthan & KKS Industrial Zones for Jan 2027 Launch 📈
The Board of Investment (BOI) is accelerating plans to establish Export Processing Zones (EPZs) at Paranthan and Kankesanthurai (KKS) to drive investment and job creation in the Northern Province. • Key Timelines: Land reservations for investors in Paranthan will open by end-November 2026, with internal infrastructure development targeting a parallel launch at both Paranthan and KKS by early January 2027. • Investor Facilitation:📈 BOI Fast-Tracks Northern EPZs in Paranthan and KKS for Jan 2027 • Key Milestones & Timelines: • Paranthan EPZ: Investor land reservations open by end-Nov 2026; internal infrastructure work starts Jan 2027. • KKS EPZ: Internal infrastructure work targeted to begin in Jan 2027 on a parallel track. • Investor Promotion: BOI to host a Northern familiarization program for leading investors in Nov 2026. • Streamlining Investment: • Proposal to establish a Single-Point Coordination Mechanism and a Northern Province Investor Facilitation Centre to eliminate administrative bottlenecks and fast-track approvals. • Plans for a Regional Manpower Information Database to track local workforce skills, supporting regional employment and investor needs. • Sector Diversification: • Sea cucumber and seaweed cultivation identified in Ariyalai, Jaffna as promising commercial sectors to expand and diversify the North's export-oriented industries.
🤖 Scouts & Vidullanka Launch Sri Lanka's First AI-Powered Drone Security System 📈
Homegrown Sri Lankan robotics startup Scouts has partnered with clean-energy firm Vidullanka PLC to deploy the country's first autonomous aerial security system, marking a key milestone in local technology and Industry 4.0 innovation. • Deployment & Coverage: Deployed in September 2026 across Vidullanka's solar power plants (4MW combined capacity, generating ~7.7 GWh of renewable energy annually). • Technology Highlights: • End-to-end local hardware, software, and AI platform featuring pilot-less drones and weatherproof docks. • Fitted with 4K and thermal cameras for real-time risk detection (fencing damage, vegetation encroachment, fires, and equipment issues). • Automates large-scale infrastructure monitoring, reducing reliance on conventional ground patrols. • Strategic Context: Highlights expanding local capabilities in technology & robotics and critical manufacturing, while supporting digital transformation and efficiency across Sri Lanka's clean energy and renewable infrastructure sectors.
NCEL & COOPFED Partner to Secure Essential Food Supplies 📈
India’s National Co-operative Exports Limited (NCEL) and Sri Lanka’s COOPFED signed an MoU in Colombo to enhance food security and strengthen cooperative networks. • Key Objectives: - Facilitate direct supply of essential food commodities from India to Sri Lanka to minimize market shortages. - Improve consumer access to food at affordable prices via national cooperative channels. • Scope🤝 India and Sri Lanka Cooperatives Sign MoU to Boost Food Security • Overview: India's National Co-operative Exports Limited (NCEL) and Sri Lanka's Consumer Co-operative Societies Federation Limited (COOPFED) signed a Memorandum of Understanding in Colombo to secure the supply of essential food commodities. • Key Objectives: • Improve availability and reduce shortages of essential food items across Sri Lanka at affordable prices. • Strengthen supply-chain resilience and institutional linkages between both nations' cooperative sectors. • Scope of Partnership: • Direct trade of agricultural and food commodities via established cooperative networks. • Joint efforts in warehousing, logistics, digital platforms, supply-chain management, market information exchange, and capacity building. • National Context: The partnership strengthens food security and trade cooperation by connecting Indian cooperative suppliers directly with Sri Lankan consumer networks.