Economy

Sri Lanka has long served as an important strategic destination in the Indian Ocean, catering to merchants and travellers from South-east Asia, India, the Middle East and East Africa. Formerly known as Ceylon, the island was visited and admired by the likes of Marco Polo, who called it “the finest island of its size in the world” well before...

On October 26, 2018 President Maithripala Sirisena rescinded the mandate of Prime Minister Ranil Wickremesinghe to lead the government. Although the Prime Minister Wickremesinghe was reinstated on December 16, the constitutional crisis weakened business sentiment and impacted already slowing growth. The economy grew by 3.3% year-on-year (y-o-y...

Companies categorised as small and medium-sized enterprises (SMEs) constitute around 75% of all businesses in Sri Lanka, making them a crucial component of the economy. Boosting this vital area, both in term of raw size and contribution to value added, is thus a vital part of policy, with recent times seeing major initiatives launched with...

Large populations, which have previously been seen as an economic burden, are now seen as marketplaces for products, services and ideas. Around 4bn of the world’s population is in Asia. This represents not only a marketplace for products and ideas, but also a marketplace for futuristic imagination, invention and innovation.

As the country moves forward with an ambitious development programme, while also navigating a series of internal political challenges, 2019 is set to be an important year for Sri Lanka. The economy has been making progress in recent years, which should place it in good standing during the potentially difficult time ahead. Major efforts have...