Sri Lanka Articles & Analysis

Sri Lanka’s progress with free trade agreements, finance reforms, and growth strategies for manufacturing and ICT should encourage increased foreign direct investment. Sri Lanka was named the top travel destination for 2019, and the government’s 2025 development strategy aims to increase public-private partnerships, nurture innovation and increase investment in special economic zones.

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In September 2017 the Sri Lankan government launched an ambitious development plan, Vision 2025. The eight-year strategy aims to turn the country into an upper-middle-income one “by transforming Sri Lanka into the hub of the Indian Ocean, with a knowledge-based, highly competitive, social market economy”. While the government and the country...

 

Trade and investment activities in Sri Lanka benefit from the country’s location along busy Indian Ocean trade routes, abundant agricultural and industrial exports, and a young, skilled workforce. Just 19 km separate its southern-most port from a global shipping lane carrying two-thirds of the world’s oil and half of its container shipments....

 

With a key geostrategic location in the Indian Ocean, international trade is a natural focus for Sri Lanka. The country has signed on to a variety of bilateral and multilateral free trade agreements (FTAs) over the years, with the most recent being the Sri Lanka-Singapore FTA (SLSFTA) in January 2018. Yet, as 2019 began, the SLSFTA ran into a...

 

Export industries received a welcome boost in May 2017, when the EU reinstated Sri Lanka’s Generalised Scheme of Preferences Plus (GSP+) status, which had previously been rescinded over human rights concerns in 2010. GSP+ status removes the majority of import duties on Sri Lankan goods entering the European single market, providing access to...

 

How will volatility in the domestic market impact short-term foreign direct investment (FDI) inflows, and how will the BOI mitigate risk?

 

Global trade faces protectionist headwinds that are dampening the outlook for growth in the coming years. According to the World Trade Organisation (WTO), trade volume grew by 4.7% in 2017 and is expected to have moderated slightly to 4.4% in 2018 and dip to 4% in 2019. Although this means growth will fall below the 4.8% average seen since...