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The Report: Sri Lanka 2019

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    Company Profile

  • 208 Pages
  • March 2019
  • Region: Sri Lanka
  • Oxford Business Group
  • ID: 4806836

Sri Lanka was Named the Top Travel Destination in 2019 which will Have a Positive Impact in Certain Sectors Such as Energy and Agriculture

Sri Lanka’s promising progress with regard to free trade agreements, alongside finance reforms and ambitious growth strategies for manufacturing and ICT, look set to encourage increased foreign direct investment in 2019 – with 2018 having seen the highest levels on record. This should help offset the effects of political and economic volatility, as well as the increasing trade deficit that resulted from a number of import challenges including rising oil and gas prices.


Moreover, Sri Lanka’s Vision 2025 development strategy aims to increase public-private partnerships, nurture innovation and increase investment in special economic zones to boost the country’s export capacity. Sri Lanka was named the top travel destination for 2019 and boasts great potential in key sectors, such as industry, energy, and agriculture. While there will be challenges ahead, Sri Lanka is thus well on its way to achieving its development goals and, with the right level of investment and regulatory reform, reaching its potential as an Indian Ocean hub.


Product's Target Market:


  • CEO
  • Academic
  • Investor
  • Financial Analyst
  • Risk Analyst
  • Financial Adviser
  • Business Development Manager
  • Investment banker
  • Wealth manager

Table of Contents

1. SNAPSHOT
  • Sri Lanka in brief
2. COUNTRY PROFILE
  • Natural beauty: Island nation in the Indian Ocean boasts diverse landscapes
  • Meaningful exchanges: New trade agreements provide a fillip to fiscal reforms
  • Interview: President Maithripala Sirisena
  • Path to prosperity: Vision 2025 seeks to boost exports and spread economic benefits by achieving upper-middle-income status
  • Viewpoint: Prime Minister Ranil Wickremesinghe
  • Continental business: The region sees a raft of trade deals and disputes
  • Interview: Ganeshan Wignaraja, Executive Director, Lakshman Kadirgamar Institute
3. TRADE & INVESTMENT
  • Trading up: Foreign investment and free trade agreements help to shore up logistics potential along busy Indian Ocean commerce routes
  • Interview: Parag Khanna, Founder and Managing Partner, FutureMap
  • Seal the deal: Despite many promises, a new free trade deal with Singapore has yet to be implemented
  • Preferred partners: Exports boom after the EU reinstates Generalised Scheme of Preferences Plus status
  • Interview: Champika Malalgoda, Director-General, Board of Investments
  • Shifting trade winds: Regional integration among emerging economies and new multilateral agreements bolster trade
  • Interview: Thilan Wijesinghe, Chairman, National Agency for Public-Private Partnership
4. ECONOMY
  • Moving ahead: Following political challenges, efforts have been made to achieve economic recovery through trade and policy reforms
  • Opening up: The possibility of further support from the IMF, along with strengthening reforms, are giving the economy a positive outlook
  • Interview: Rajendra Theagarajah, Chairman, Ceylon Chamber of Commerce
  • Interview: Krishan Balendra, Chairman, John Keells Holdings
  • Free, small and enterprising: Government schemes are supporting new businesses, local communities, and the country’s youth and women
  • Bounce back: Political stabilisation and advances in the export and tourism sectors are expected to drive growth
  • Talent map: Changing global migration patterns as a result of growing anti-migration sentiment
5. BANKING
  • Balancing act: Regulatory reform, consolidation and the rise of financial technology to aid sector in maintaining solid performance
  • To the core: Compliance with global regulations set to shore up banks, leaving them better equipped to deal with challenges
  • Interview: Indrajit Coomaraswamy, Governor, Central Bank of Sri Lanka
  • A swing in the balance: Following a retrenchment of overseas operations by numerous major banks, how are firms in emerging markets responding?
6. CAPITAL MARKETS
  • Riding the tides: External and internal factors lead to caution and opportunities
  • Interview: Dilshan Wirasekara, CEO, First Capital Holdings Market analysis & data provided by First Capital
  • At a crossroads: Amid state-led economic and public investment reforms, market returns look positive
  • Secure investments: Despite a challenging environment for the market, bond yields are expected to be bullish over the medium term
  • Indexed growth: Inclusion in global indices often results in a greater flow of funds to markets, but it is just one aspect of the picture
7. INSURANCE
  • Cover story: Regulatory reforms and emphasis on awareness foster an environment conducive to growth
  • Interview: R Renganathan, Chairman, Ceylinco Life Insurance
8. ENERGY
  • Strategic aims: Expanding the role of renewables and reducing the fuel import bill are top priorities for policymakers
  • Interview: Damitha Kumarasinghe, DirectorGeneral, Public Utilities Commission of Sri Lanka
  • Interview: Allard Nooy, CEO, InfraCo Asia
  • All systems go: Officials green-light key liquefied natural gas projects
  • Balancing act: Plans to upgrade and expand oil-refining capabilities key to resolving trade imbalances
  • Cheaper and greener: As costs decline, renewable sources are seeing an inexorable rise, particularly among developing economies
9. INDUSTRY & RETAIL
  • Building a base: Efforts are ongoing to foster innovation and promote Sri Lanka as an alternative destination for manufacturing
  • Interview: Prabhash Subasinghe, Managing Director, Global Rubber Industries
  • Process optimisation: The adoption of high-tech solutions continues to bolster the burgeoning textiles and garment industry
  • Into high gear: Economies around the world are preparing for the opportunities and challenges brought about by the next industrial revolution
  • Expanding the base: Large urban shopping centres and e-commerce find opportunity, while rural inroads are also set to expand
  • Interview: Carl Cruz, Chairman, Unilever Sri Lanka
10. TRANSPORT
  • Smooth road ahead: Closer international relations and accelerating infrastructure development lead to big projects in the pipeline
  • On track to success: New light rail transit system promises to alleviate traffic congestion and travel times in Colombo
  • Interview: Jingtao Bai, Managing Director, China Merchants Port Holdings Company
  • Skybound: Rapid expansion of global aviation industry propels investment
11. PLANTATIONS & AGRICULTURE
  • Making the transition: Reforms and modernisation strategies aim to help the sector expand and increase its export potential
  • Interview: Mufaddal Jafferjee, Director, Jafferjee Brothers
  • Self-sufficiency goals: The rice industry must overcome several challenges to increase production and end its reliance on imports
  • Seeking sustainability: Digital and precision farming practices are poised to bolster global agriculture resiliency
12. CONSTRUCTION & REAL ESTATE
  • Poised for growth: Government infrastructure projects and private sector developments continue to advance the segment
  • Labour shortage: The sector continues to be burdened by the outward migration of young local talent
  • Interview: Arun Pathak, Managing Director, WelcomHotels Lanka
  • Qualified optimism: Key real estate developments have potential to reposition Sri Lanka as a regional business and financial hub
  • Window of opportunity: Foreign investment in the real estate sector to be bolstered by progressive legislative amendments
13. TOURISM
  • Time to shine: All eyes are on Sri Lanka as the world’s top destination for 2019
  • Interview: Hiran Cooray, Chairman, Jetwing Hotels
  • Off the beaten track: Spreading tourism’s benefits around the country with investment in infrastructure, new offerings, and marketing
  • Meeting expectations: Security and engagement key to further growth in the meetings, incentives, conferences and exhibitions industry
  • Trend-setters: Outbound tourism from China drives growth across Asia Pacific
14. ICT
  • Targeted approach: Efforts to expand infrastructure and improve digital literacy are laying the groundwork for future growth
  • Interview: Lakmini Wijesundera, CEO, IronOne Technologies
  • Levelling up: Sector launches a new brand to promote knowledge services
  • Digital future: Officials aim to transform key industries by adopting technology
  • Bridging the divide: The ever-expanding digital economy is creating widespread opportunities in emerging economies
15. HEALTH & EDUCATION
  • A fitter equilibrium: Demographic and disease shifts drive demand for private care
  • Interview: Shyam Sathasivam, President, Sri Lanka Chamber of Pharmaceutical Industry
  • Investing in health: Rising health care costs and advancing medical technology lead to improved patient care and cost savings
  • Under pressure: Private schooling could help ease university capacity constraints
  • Digital classroom: Investment in education technology surges as markets around the world recognise its transformative potential
16. LEGAL FRAMEWORK
  • John Wilson Partners
  • Stimulus package: Recent reforms seek to enhance debt management, increase investment and spending, and safeguard the local industry
  • Viewpoint: John Wilson, Managing Proprietor,
  • John Wilson Partners
17. THE GUIDE
  • Take a break: Hotel options around the country
  • Listings: Telephone directory of helpful entities
  • Facts for visitors: Essential information for the business and leisure traveller

Companies Mentioned

  • Central Bank of Sri Lanka
  • Ceylinco Life Insurance
  • China Merchants Port Holdings Company
  • First Capital
  • FutureMap
  • Global Rubber Industries
  • IMF
  • InfraCo Asia
  • IronOne Technologies
  • Jafferjee Brothers
  • Jetwing Hotels
  • John Keells Holdings
  • John Wilson Partners
  • Lakshman Kadirgamar Institute
  • National Agency for Public-Private Partnership
  • Public Utilities Commission of Sri Lanka
  • Sri Lanka Chamber of Pharmaceutical Industry
  • Unilever Sri Lanka
  • WelcomHotels Lanka