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…
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…
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…
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…
The administration of President Maithripala Sirisena has planned a series of reforms that it hopes will better equip Sri Lankans for the more competitive economic activities of the future. It aims not only to increase the number of years spent in school, but also to raise the standards of teaching, and emphasise a curriculum of critical thinking and problem solving. Sri Lanka is also keen to build…
Across the island, a wide-ranging infrastructure development campaign is unrolling to expand Sri Lanka’s production capacity, efficiency and productivity, with the added aim of reducing regional disparity. Building and infrastructure projects are expected to strengthen the country’s economy, with the ultimate aim of achieving high-income, sustainable economic growth for all Sri Lankans. Various…
This chapter contains details on leading hotels in Sri Lanka, information for business or leisure visitors, phone numbers for government offices and embassies, and helpful tips for new arrivals to the island.…
This chapter examines Sri Lanka’s legal framework, focusing on reforms in several areas, changes in capital gains tax and employment law, updated legislation on zoning and land use issues and other key areas. It also features a viewpoint from John Wilson, Managing Proprietor, John Wilson Partners.…
This chapter examines Sri Lanka’s tax regime, focusing on business-friendly benefits for 2017, incentives for tourism operators, digitisation of VAT mechanism and other key areas. It also features a viewpoint from Sujeewa Mudalige, Managing Partner, PwC.…
After years of strong economic growth and population expansion, Sri Lanka’s telecoms and IT sectors face increasing demand for a wider range of services. At the same time, a more tech-savvy populace has increasing expectations of service standards and quality, as technological changes reach greater numbers of people. With a dedicated government ministry ensuring that the activities of the country’s…
