Rural connectivity is poised to improve significantly, with the government securing financing from the Asian Development Bank (ADB) to rehabilitate over 3400 km of rural roads. These road renovations form part of an expansive infrastructure agenda that will also see the construction of a host of rural expressways in the coming years. Although...
In an effort to address the rising levels of public debt, the government moved to sell a majority stake in the recently constructed deepwater port in Hambantota to the state-owned China Merchants Port Holdings (CMPH) in July 2017. The deal will help shore up state reserves to allow for higher spending on priority infrastructure. It also...
Industry in Sri Lanka has developed over the years by taking the high road. In part driven by necessity, the country has tended to avoid low-margin, high-volume production in favour of value addition and customisation. The result has been solid demand for its goods and a strong international reputation.
Having a strategic location along one of the world’s busiest maritime trade routes, Sri Lanka is well positioned to capitalise on rising Indian Ocean trade volumes. Under the auspices of the economic development strategy Vision 2025, released in September 2017, authorities are moving to transform the country into a leading global trans-...
Sri Lanka’s export economy has been facing challenges in recent years from intense international competition and lack of investment, especially foreign direct investment. As a result, the government is stepping up its commitment to support exports, especially from industrial small and medium-sized enterprises.
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