Sri Lanka has a total of 12,290 km of national highways, 1561 km of rail tracks, two international airports and four seaports. In order to boost the local economy and quality of life, the cultivation of an effective, reliable and cost-efficient transport system has been a priority for successive governments, albeit with varying degrees of success. Improvement plans in the pipeline include light rail…
Industrial exports have long played a crucial role in Sri Lanka’s economic output, even during periods of civil strife and macroeconomic instability. Over the years, an emphasis on export orientation has led to greater productivity and employment generation. However, a new wave of instability – characterised by political uncertainty, currency depreciation and rising interest rates – affected…
Political tensions in the latter part of 2018 slowed the momentum of Sri Lanka’s economy, weakening gains made earlier in the year. Nevertheless, political stabilisation and advances in the export and tourism sectors are expected to drive robust growth over the coming year. Citing policy differences, on October 26 President Maithripala Sirisena rescinded the mandate of Prime Minister Ranil Wickremesinghe…
On financial and regulatory support for renewable energy projects in Asia What obstacles must be overcome for Asia to meet its long-term energy needs through renewables? ALLARD NOOY: In Asia, 45% of all projects – and even more in the infrastructure space and, more importantly to us, in the renewable energy space – are either marginally bankable or not bankable at all. This is due, in part,…
A rebranded Sri Lankan tourism industry is looking to increase visitor footfall through multi-pronged marketing efforts, while seeking to shake off concerns over recent political developments. On November 5 Sri Lanka’s Tourism Promotion Bureau (SLTPB) launched its new “So Sri Lanka” tagline for the tourism industry. Unveiled at London’s World Travel Market 2018, the slogan aims to capture…
On addressing the infrastructure deficit in emerging Asia How do you see the newly formed Infrastructure Asia dovetailing with transnational initiatives like the Belt and Road? SETH TAN KENG HWEE: I think the Belt and Road Initiative identifies a very large need when it comes to infrastructure. The market really needs infrastructure, but I think our cooperation would have to be case-specific. We…
Infrastructure investment and more diversified freight-handling services are expected to help Sri Lanka move towards its goal of becoming a major logistics hub, even as the country faces significant competition from within the region. In late August Mahinda Samarasinghe, the minister for ports and shipping, announced plans were being finalised to expand the Port of Colombo’s East Container Terminal…
On changing consumer patterns and opportunities for investment How can Sri Lanka reverse the trend of sluggish consumption in the short to medium term? CARL CRUZ: From our end, it is quite clear what needs to be done. The government needs to take steps to revitalise rural areas that have been hit hard in recent years. The past two to three years of inclement weather have had a significant…
Rising demand and an accelerating population shift to major urban centres is driving activity in Sri Lanka’s retail sector, with a series of large-scale developments to launch in the coming months; however, recent pressures on domestic spending power could curb sales in the shorter term. Mid-September saw the opening of Colombo City Centre Mall, a 200,000-sq-foot shopping and entertainment area…
For modernising using unexpected angular form , folding planes and ingenious light – suffused interiors new ideas need to be created and new policies need to be put in place. The policies need to be based on sound concepts and principles, for which the professionals have to contribute by propagating appropriate ideas and principles based on informed imaginations and tested experiences would be at…
