SME Alliance Calls for Urgent Government Action to Support Sector’s Survival
In a critical plea for support, the SME Alliance has voiced strong concerns over the lack of effective aid provided to Small and Medium-sized Enterprises (SMEs) amidst ongoing economic turmoil. Highlighting a series of unsuccessful governmental and financial policies, the alliance is urging immediate action to restore the sector’s viability and safeguard over 4.5 million […]
Colombo Port Expansion Project Advances with Major Consultancy Contract
Colombo, January 22, 2025 – In a significant move to bolster Sri Lanka’s maritime capabilities, the Cabinet of Ministers has officially approved a consultancy services contract valued at $4.2 million with Dohwa Engineering Co. Ltd. This decision is a key component of the ambitious Colombo Port Expansion Project, aimed at enhancing the port’s infrastructure and […]
Sri Lanka’s Tourism Sector Witnesses Impressive Growth in 2024, Driven by Emerging Markets
Introduction In 2024, Sri Lanka’s tourism sector marked a significant milestone, attracting over 2.05 million visitors and showcasing a robust expansion driven predominantly by non-traditional markets. This article delves into the dynamics of this growth, emphasizing the diversification of tourist sources and the promising future of the sector as it gears up for the launch […]
The Impact of President Trump’s Policies on South Asia and Sri Lanka’s Economic Landscape
Introduction The tenure of President Donald J. Trump was marked by transformative policies that had profound effects globally. South Asia, a region of strategic economic and political importance, was significantly influenced by his administration’s foreign and economic policies. This article explores the impact of President Trump’s presidency on South Asia, with a special focus on […]
Sri Lanka Economic Association hosts expert panel to chart path from debt default to transformative growth
On January 16, 2025, the Sri Lanka Economic Association (SLEA), in collaboration with the globally recognized think tank ODI Global, spearheaded a pivotal discussion at the University of Colombo. The focus was the launch of a critical publication titled “Sri Lanka: From Debt Default to Transformative Growth.” This gathering of minds aimed to dissect and […]
Understanding the Complex Taxation Structure on Vehicle Imports in Sri Lanka
The taxation framework on vehicle imports in Sri Lanka has become a topic of significant concern for both consumers and industry players. The Vehicle Importers Association of Sri Lanka (VIASL) and the Vehicle Importers Association of Lanka (VIAL) have shed light on the multi-faceted nature of taxes imposed on imported vehicles, urging the Government to […]
Sri Lanka’s Path to Economic Resilience: CBSL’s Strategy for 2025 and Beyond
In recent announcements, the Governor of the Central Bank of Sri Lanka (CBSL), Dr. Nandalal Weerasinghe, outlined the crucial steps necessary for the nation to strengthen its economy and ensure sustainable growth (Economic Resilience). With a focus on innovation, productivity, and structural reforms, the CBSL’s Policy Agenda for 2025 aims to propel Sri Lanka towards […]
Sajith faults AKD Govt. for failing to reach new deal with IMF
Ineffective Government Actions On January 8, 2025, Opposition Leader Sajith Premadasa expressed significant criticism towards the current government for failing to secure a new agreement with the International Monetary Fund (IMF) and for not delivering on key promises that affect the daily lives of Sri Lankans. During a parliamentary session, Premadasa highlighted the government’s inability […]
Sri Lanka’s Tourism Industry: A Strong Start to 2025
Sri Lanka’s tourism industry has witnessed a promising start in 2025, as evidenced by the notable increase in visitor arrivals. In just the first five days of January, the country welcomed 39,415 tourists, a substantial rise from the 32,453 visitors recorded during the same period in 2024. This boost is largely driven by a significant […]
Motor industry ‘cautiously optimistic’ as SL gears up to lift five-year vehicle import ban
The President of the Sri Lanka Business Council of Japan (SLBCJ), Jagath Ramanayake, recently highlighted uncertainties concerning Japanese banks’ ability to process letters of credit (LCs), which are crucial for facilitating vehicle imports(Motor Industry). During a media briefing, Ramanayake explained that international law ensures once an LC is opened, it cannot be cancelled, which typically […]