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Sri Lanka’s energy sector has undergone a significant transformation in recent decades, as growth in the economy and population have eroded the country’s capacity to meet its energy needs via hydropower, strained the national grid and pushed thermal generation to dominate the industry. Although it benefits from an abundant supply of renewable energy, electricity shortages and rising fuel imports have become serious concerns, with the problem expected to intensify as the government advances its sizeable infrastructure development agenda. At the same time, financing shortfalls and rising electricity demand have presented new opportunities for private sector investors, with the government’s Vision 2025 – an economic development plan released in 2017 – emphasising public-private partnerships as a preferred finance mechanism for new projects, including power plants. This chapter contains an interview with Ranjith Siyambalapitiya, Minister of Power and Renewable Energy.

After an uncertain period, the Colombo Stock Exchange (CSE) is back on an upward trajectory, supported by the improving economic climate. The market will see significant reforms in 2018 to strengthen regulation, increase the bourse’s independence and efficiency, and broaden the range of products available. While the CSE has had its ups and downs since the civil war ended, its overall trajectory has been positive. Turbulence in recent years led to improvements in regulation, much to the benefit of market stability and transparency. The implementation of long-awaited reforms is a sign that the authorities are putting an emphasis on capital market development. This suggests that there is the potential for new momentum behind the diversification of product offerings and investment platforms, which should draw more investors to the market. This chapter contains interviews with Ray Abeywardane, Chairman, Colombo Stock Exchange; and Dilshan Wirasekara, Director and CEO, First Capital.

This chapter examines Sri Lanka’s legal system, focusing on the updated Inland Revenue Act, the establishment of a new public-private partnership agency, the Foreign Exchange Act and other key areas. It also contains a legal framework viewpoint from John Wilson, Managing Proprietor, John Wilson Partners.

This chapter examines Sri Lanka’s tax regime, explaining obligations outlined for businesses and individuals, deductions offered for trading of a company’s stocks, and other important information for investors. It also contains a tax viewpoint from Sujeewa Mudalige, CEO, PwC Sri Lanka.

The government has signaled its determination to reform Sri Lanka’s health sector with region-leading stances on tobacco, while also showing a willingness to engage with private health care providers looking to tap into the country’s potential. Private health care in Sri Lanka is starting from a low base, but a number of factors will provide distinct opportunities for those looking to invest in the market. In a concerted effort to boost the country’s overall economy, development of the education sector has become a government priority. In recent years it has initiated plans to increase the capacity of institutions, improve the standards of teaching and embrace the technology revolution that is happening globally. This chapter contains an interview with Lakshman Dissanayake, Vice-Chancellor, University of Colombo.