Category: Economy
Sri Lanka Investment Forum concludes with over 4500 participants
The 2021 Invest Sri Lanka Forum, organized by the Board of Investment, The Ceylon Chamber of Commerce and the Colombo Stock Exchange, which commenced on Monday, 7th June concluded successfully on Wednesday, 9th June. Asia’s first ever virtual investment forum was held with foreign participation of 2,200 from 85 countries and 2,500 local participants. The […]
SL is a strategically located strong economy with access to emerging and established markets : BOI Chief
Sri Lanka is a skills powerhouse, with the best living environment in South Asia, a senior official said. Additionally, Sri Lanka is the place to work, live and enjoy life, Sanjaya Mohottala, chairman of the Board of Investment tolad a forum Wednesday. “We have an extremely educated, trainable and capable workforce,” “Digital literacy is close […]
Central Bank invites private sector to raise offshore funding; zero-cost swap facility available
Sri Lanka’s Central Bank with a view of encouraging foreign currency inflows to the country, invites the private sector to pursue avenues to raise offshore funding leveraging on its strengths, with the consent of the Finance Minister and in line with provisions of the Foreign Exchange Act. In this regard, to hedge the foreign exchange […]
Our vision is to make Port City a key service hub in the region: President at SL Investment Forum
Sri Lanka has ambitious plans to double the national output from its current level to 8,000 dollars GDP per capita by 2030 and the country is also deeply committed to maintaining policy stability and consistency within a stable macroeconomic environment, President Gotabaya Rajapaksa said. Addressing the inauguration of the Sri Lanka Investment Forum 2021, he […]
Thinking about investing in the Northern Province?
By Jekhan Aruliah A few years ago I was speaking with a main board director of one of Sri Lanka’s largest companies. I asked him, a Jaffna Tamil gentleman approaching retirement, why his company still had not invested in the North several years after the war had ended. What he said put simply is there […]
USD 200Mn Financial Assistance from ADB for Second I-road Program
Bridging the urban and rural gap by providing services and infrastructure facilities equally across all segments of the country is one of the key focus of the Government Policy Framework. Developing transport network to ensure an efficient and environmentally friendly public transport system will support achieving this envisaged target of the Government. Accordingly, the Government […]
Central Bank extends concessions for COVID-19 affected businesses & individuals
With a view to meeting the challenges faced by businesses and individuals due to the third wave of COVID-19, Sri Lanka’s Central Bank has requested banks to extend the concessions. Accordingly, deferment or restructuring of existing credit facilities in the performing category as well as concessions for credit facilities in the non-performing category has been […]
‘s economy collapse due to lockdown?
By Charith Isuru The answer is a BIG NO….. What are possible scenarios that can cause a possible economic collapse in Sri Lanka during this Covid pandemic? 1. Substantial downturn in exports. 2. Sizable loss in foreign worker remittances. 3. Unexpected surge in imports to an unbearable level. 4. Lack of foreign currency inflows to […]
Sri Lanka records USD 798.9 Mn exports in April
Sri Lanka’s export performance continued its upward momentum in the first three months of 2021. Due to the Covid-19 pandemic-induced lockdown last year, exports were contracted by a record 64.63 percent in April 2020. However in April this year, exports grew up by 183 percent to US$ 798.9 Mn in comparison to the previous year. […]
Third wave of pandemic highlights need for continued fiscal & monetary support: CBSL
The Sri Lankan economy, which rebounded notably during the second half of 2020 and early 2021 as per available indicators, is experiencing renewed disruptions due to the emergence of the third wave of the COVID-19 pandemic and related preventive measures, including isolations. “While its adverse effects on economic activity are expected to be lesser than […]
President to Inaugurate Sri Lanka Investment Forum 2021
The President, in inviting global investors to participate in “Sri Lanka’s Growth Decade”, stated that “Sri Lanka is looking to unleash a decade of growth to rapidly increase its GDP, taking advantage of its inherent strengths and global supply chain shifts. Our strategic location combined with our business-friendly policies will be an accelerator for this […]
Sri Lanka secures USD 500Mn concessional financing from Republic of Korea
In order to further strengthen the economic cooperation between two countries, the Government of Republic of Korea has agreed to provide concessional loans from the Economic Development Cooperation Fund (EDCF) of the Export Import Bank of Korea (KEximbank). Accordingly, the Government of Republic of Korea and Government of Sri Lanka have agreed to sign a […]