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Analysis

While Sri Lanka's overall unemployment is low, disparity between genders and levels of education exist
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Sri Lanka’s robust economic growth in recent years has boosted job creation, but the country still faces the challenges of high youth unemployment on one hand and skills shortages on the other. On The Job The number of people employed in Sri Lanka rose by 1.5% in 2016 to nearly 7.9m, up from 7.8m in 2015, according to the Central Bank of Sri Lanka (CBSL). Job growth was driven by the industry…

Analysis

Plans set to transform Sri Lanka's Colombo region into economic powerhouse
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Colombo, the biggest city in Sri Lanka by some margin, is the country’s economic engine. A range of large-scale projects are under way that are set to transform the city into a regional centre for business, trade and investment. These initiatives can be complied into the Western Region Megapolis plan, a blueprint for developing an area of 3600 sq km in and around the capital. Megapolis The…

Analysis

New measures in Sri Lanka aim to bolster textiles and garments
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As the country’s largest export sector, the garment and textiles industry maintains high ethical standards and a recognised record of respectable labour practices. In this, the apparel sector caters to largely higher-value, niche products. Indeed, Sri Lanka’s major textiles producers such as MAS Fabrics serve some of the best-known apparel brands in the world. Nike, GAP, H&M and Marks…

Analysis

Sri Lanka's transport sector sees a new trans-shipment facility, road network improvements and Customs reforms
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A large part of the Sri Lankan logistics sector is given over to the trans-shipment business. As a leading centre for goods ultimately bound for India and other South Asian markets, along with East Africa, Asia and the Gulf, the country’s ports and airports provide important stops for repackaging, warehousing, redistributing and palletising a huge range of goods. The country is also rapidly…

Analysis

Highways in Sri Lanka set for major expansion as rest of network undergoes rehabilitation
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Sri Lanka has the highest road density of any country in South Asia, with some 173.9 km of roads per 100 sq km of land as of 2015, according to the World Bank. This compares with 139.4 km in India and 32.86 km in Pakistan. In 2012 roads also carried around 93% of all passenger traffic and 97% of all domestic freight traffic – figures which are unlikely to have altered much since. Backbone Thus,…

Analysis

Retailers in Sri Lanka see rising demand for fast-moving consumer goods
OBG
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Emerging Asian markets have had a significant impact on the growth of the fast-moving consumer goods (FMCG) segment. The region’s FMCG consumers pack a powerful punch: around a third of Nestlé and Procter & Gamble’s global sales growth between 2008 and 2014 came from emerging Asia, according to Euromonitor data. Indeed, for both large foreign and smaller domestic FMCG firms, participation…

Analysis

New initiatives in Sri Lanka to increase renewables' share in energy mix
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Hydrocarbons are a relatively recent addition to Sri Lanka’s energy mix, which has long relied on hydroelectricity for much of its power generation needs. While coal and fuel oil have taken on an increasingly larger role in recent times, the government has also announced several ambitious goals in the field of renewable energy (RE). Mini-hydro, solar, biomass and wind are set to become among…

Analysis

Low costs and qualified workforce make Sri Lanka attractive destination for BPO services
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Business process outsourcing (BPO), has become an increasingly important part of Sri Lanka’s economy. The country’s BPO industry recorded export revenue of $850m in 2015, according to figures from the Central Bank of Sri Lanka, making it the country’s fifth-largest export revenue earner that year. Industry leaders expect this number to rise to $5bn by 2022. Growing Segment On the basis…

Analysis

Sri Lanka develops its potential as refining and storage centre for petroleum products
OBG
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With its oil and gas resources as yet commercially unviable, Sri Lanka currently imports hydrocarbons to meet the growing needs of its people and industries. However, given the island’s location, industry players are now eyeing the country’s potential as an international centre for refining, storage and bunkering of petroleum products. In the interim, the domestic market continues to present…

Analysis

Upgrades in Sri Lanka's water segment required to meet long-term development goals
OBG
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Hydropower remains one of Sri Lanka’s top energy generators, and thus water has long been a key, multi-purpose component of the country’s broader utilities portfolio. This vital resource is set for tighter regulation as the country manoeuvres to meet the challenges of economic and population growth alongside climate change. Sri Lanka is also committed to meeting a 2020 Millennium Development…