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 2017, authorities are moving to transform the country into a leading global trans-shipment and logistics hub. Sri Lanka benefits from a deepwater...
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. Meanwhile, investment in infrastructure has improved the operating environment, reforms are...
With the economy expected to pick up pace in 2018, and steady expansion forecast over the coming years, the insurance sector is well placed to benefit. Regulatory changes are creating challenges for weaker firms, and encouraging even healthy companies to reconsider their positions, particularly in the non-life segment. This should lead to further consolidation, with the stronger players...
Improving economic growth, an increasingly sophisticated domestic market and regulatory reform are the main factors shaping the Sri Lankan banking sector. Stability has become a watchword following a period of rapid credit growth, as a flourishing private sector boosted the development of a previously underbanked market. Although the sector has a healthy growth outlook, the central bank is...
As the government continues its expansive reform agenda with Vision 2025, Sri Lanka’s economy is expected to record moderate improvements in 2018. In January 2018 the IMF projected that real GDP growth would increase to 4.6% in 2018 – up from 3.1% in 2017 – as the agriculture sector recovers from drought and flood, and construction is anticipated to lead robust services sector growth....
Trade and investment activities in Sri Lanka benefit from the country’s location along busy Indian Ocean trade routes, access to the larger markets of India and Pakistan, abundant agricultural and industrial exports, and a young skilled workforce. Value-added textiles have joined tea, rubber and spices to become a major export earner in recent years, while foreign direct investment (FDI)...
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