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Analysis

Sri Lanka's new trade deal to open up opportunities for tech firms in ICT sector
OBG
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Ongoing talks to establish a free trade agreement (FTA) between Sri Lanka and Singapore in 2017 have taken an innovative line with regard to the services category, with trade in digital services singled out for special consideration. Although negotiations are at an early stage, any agreement that does specifically include accommodations for digital services is likely to open up new opportunities…

Analysis

Sri Lankan government seeks to drive modernisation in agricultural sector
OBG
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Policymakers in Sri Lanka are looking towards the development of a modern, sustainable agriculture sector to enhance economic growth, increase rural income and boost employment. Small farming plots, low productivity and falling international commodity prices have resulted in many farmers being unable to invest in technology or seek out improved techniques. The majority of Sri Lanka’s food…

Analysis

New supply of high-end hotels on the way for Sri Lanka's tourism sector
OBG
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Further investment in accommodation will be necessary to ensure growing demand from both foreign arrivals and domestic travellers in Sri Lanka is met. In 2015 the country’s hotels saw a 12% year-on-year increase in foreign guest nights to 8.945m, while Sri Lankans spent 1.588m guest nights in tourist hotels. The country also has a wide range of supplementary establishments, more informal…

Analysis

Changing regulations look to deepen and strengthen Sri Lanka's insurance sector
OBG
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Recent times have seen the government and private sector take significant steps to strengthen Sri Lanka’s insurance industry. These have involved regulatory measures to make it both deeper and narrower, while outreach campaigns to demonstrate to ordinary citizens the benefits of being insured have been launched. On this latter point, the industry has also been making efforts to counteract…

Analysis

New hotel openings in Sri Lanka set to boost tourism revenue
OBG
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A thriving tourism sector is feeding expansion in Sri Lanka’s real estate industry and the pace is not expected to slow in the near term. Indeed, the government’s tourism strategy aims to make Sri Lanka Asia’s most sought-after destination, and a wide array of new hotels will be needed to accommodate the increase in visitors expected to the island. This development is underpinned by current…

Analysis

Developers in Sri Lanka meet high demand for high-end office space
OBG
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In recent years Sri Lanka’s real estate market has experienced intensifying demand for grade-A office and commercial space from both domestic and foreign establishments. Such space is scarce in the capital and almost non-existent outside Colombo. Although several projects expected to supply a large amount of premium commercial space are in the construction pipeline, most will not open their…

Analysis

Sri Lanka ensures domestic material supply for future construction
OBG
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A surge in construction activities is in the process of transforming the island’s economy and skylines. However, it will be more likely to achieve sustained success if it is backed up by a ready supply of quality, low-cost, and domestically produced materials. Upsets & Comebacks The construction and building materials sector on the Colombo bourse is expected to provide a 46% average…

Overview

Sri Lanka looks to strengthen trade and international relations
OBG
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After centuries of foreign rule and years of internal conflict, Sri Lanka is now changing its focus to reforming the nation’s political and economic spheres to exert its renewed influence in the region and become an independent, global player. Now is the time to see if Sri Lanka has the will to implement challenging reforms and take its place on the international stage. History Sri Lanka’s…

Overview

Raft of new trade deals set to unlock Sri Lanka's economic potential
OBG
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Positioned between west and east Asia, Sri Lanka sits on major maritime route between Europe and the Far East and its natural resources have made it a trading centre for millennia. As the country’s economy has liberalised and grown in recent decades, its trade volumes to developed markets and emerging ones have risen strongly. The country has established a name for itself as a leading exporter…

Overview

Peace in Sri Lanka brings potential and progress
OBG
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Sri Lanka has long served as an important strategic destination in the Indian Ocean, catering to merchants and travellers from South-east Asia, India, the Middle East and East Africa. Formerly known as Ceylon, the island was visited and admired by the likes of Marco Polo, who called it “the finest island of its size in the world”, well before the arrival of imperialist nations. A diverse…