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There is a number that policymakers in Colombo should contemplate carefully: $ 20 billion. The Government of the Maldives has agreed commercial terms with Eagle Hills, the UAE based real estate investment and development company, for the proposed Maldives Waterfront and Marina at Ras Malé. The project has an indicative development value of approximately $ 20 billion across its planned phases. That number requires an important qualification. It is not $ 20 billion of committed foreign direct investment arriving in the Maldives tomorrow. Nor is it a disclosed upfront capital commitment by Eagle Hills. It is the indicative development value of a project whose eventual scale will depend on master-planning, financing, approvals and execution. But dismissing the announcement on those grounds would miss the much more interesting point. A country with barely half a million people is attempting to conceive, package and deliver an urban development proposition measured in tens of billions of dollars.

Lesson Colombo most needs to study

Sri Lanka should be asking why it finds this so difficult. The comparison is uncomfortable because Sri Lanka does not lack assets. If anything, it possesses them in abundance. It has more than 20 million people, a substantial educated workforce, a position beside one of the world’s busiest maritime corridors, major ports, established manufacturing capabilities, extraordinary tourism assets and proximity to India, one of the world’s largest and fastest growing major economies. The Maldives has far less land, a tiny domestic market, acute climate vulnerability and an economy unusually dependent on tourism. Yet the Maldives has repeatedly demonstrated an ability to turn scarcity itself into an investment proposition. That may be the lesson Colombo most needs to study.

Ras Malé is not simply being presented as another luxury resort. The country’s largest land reclamation initiative is intended to become an extension of the capital region and part of the answer to one of the Maldives’ most persistent social problems: overcrowding and housing scarcity around Malé. The Government has set out a zero carbon, safe island vision for the new city. Its 2026 Family Housing program provides for 15,000 land plots at Ras Malé.

The Government of the Maldives has agreed commercial terms with Eagle Hills, the UAE based real estate investment and development company, for the proposed Maldives Waterfront and Marina at Ras Malé. The project has an indicative development value of approximately $ 20 billion across its planned phases

Maldives Waterfront and Marina at Ras Malé

The proposed waterfront development would sit within that larger urban plan, adding homes, hotels, a marina, retail, leisure, education, healthcare, public spaces and other community infrastructure. Preliminary project estimates point to more than 54,000 direct and indirect employment opportunities, more than one million annual visitors and more than $ 2 billion in annual tourism revenue at full maturity. Those numbers are projections, not outcomes, and should be treated accordingly. But the numbers are less interesting than the architecture behind them.

The Maldives is attempting to connect housing policy, climate adaptation, tourism, urban development, international capital and economic diversification within a single investable proposition. Sri Lanka too often treats these as separate Government files. That distinction matters enormously to international capital. Investors do not invest in potential in the abstract. They invest in propositions.

They need land, legal rights, infrastructure, approvals, commercial logic, credible counterparties and reasonable confidence that the rules governing an investment today will still exist tomorrow. An island is not an investment proposition. A port is not an investment proposition. A beach is not an investment proposition. Even a strategic location is not, by itself, an investment proposition. Each becomes economically valuable only when the State turns the underlying asset into something investors can understand, price, finance and execute. The Maldives has understood this for decades.

The Maldives is attempting to connect housing policy, climate adaptation, tourism, urban development, international capital and economic diversification within a single investable proposition. Sri Lanka too often treats these as separate Government files. That distinction matters enormously to international capital. Investors do not invest in potential in the abstract. They invest in propositions

Its resort economy was built by converting individual islands into clearly defined economic propositions. Investors could obtain long duration rights, develop internationally marketable resorts, bring in global brands and sell to a worldwide customer base. The model has its shortcomings, but international capital understood it. Ras Malé represents an attempt to apply a version of that logic on a much larger urban canvas. There is also an established economic machine behind the proposition. The Maldives welcomed its millionth tourist of 2026 in June and is targeting 2.5 million arrivals for the year. Tourism therefore provides an existing international customer base against which developers can model hotels, residences, restaurants, marinas, retail and leisure infrastructure.

Colombo Port City

Sri Lanka, intriguingly, has a substantial visitor economy of its own. It recorded about 2.36 million tourist arrivals in 2025. So, the explanation cannot simply be that the Maldives has tourism and Sri Lanka does not. Nor can it be that Sri Lanka is incapable of conceiving developments of comparable scale. Colombo Port City proves otherwise. The 269-hectare reclaimed development beside the capital has received roughly $ 1.4 billion in enabling investment and is envisaged as a much larger development over time. It now has dedicated legislation, a special economic zone framework and a single window mechanism intended to reduce the friction faced by investors. Indeed, the similarities between Port City and Ras Malé make the comparison more revealing. Both involve reclaimed land. Both seek international capital. Both envisage mixed use urban districts. Both seek to create economic activity beyond their countries’ traditional industries. And both depend ultimately on whether Governments can transform engineered land into functioning economic ecosystems. The question for Sri Lanka, therefore, is not whether it can produce a multibillion-dollar vision. It is whether it can repeatedly convert vision into transactions.

FDIs into Sri Lanka

There has been progress. Sri Lanka’s Board of Investment reported foreign direct investment inflows of $ 1.057 billion in 2025, an increase of 72% from the previous year. Manufacturing accounted for 46% of those inflows, port development 26% and tourism and leisure 11%.

That recovery deserves recognition, particularly after the extraordinary economic dislocation surrounding the country’s 2022 sovereign default.

An island is not an investment proposition. A port is not an investment proposition. A beach is not an investment proposition. Even a strategic location is not, by itself, an investment proposition. Each becomes economically valuable only when the State turns the underlying asset into something investors can understand, price, finance and execute. The Maldives has understood this for decades

Yet the composition of the number is revealing. Of the $ 1.057 billion received in 2025, only $ 134 million came from new projects contracted with the Board of Investment during the year. The remaining $ 923 million came from expansions and capital injections into existing operations. Existing investors committing more money to Sri Lanka is encouraging. It suggests that companies already familiar with the country continue to see opportunities. But an economy seeking structural transformation needs something more. It needs a continuous pipeline of new global companies willing to make large, long duration commitments involving capital, technology, management expertise and international networks. This is where the Maldives comparison becomes useful. Foreign capital does not necessarily choose the country with the greatest objective potential. It often chooses the country that makes its potential easiest to understand, price and execute.

Sri Lanka’s difficulty has rarely been imagining what it might become. For decades it has produced plans for tourism zones, industrial parks, logistics hubs, financial centres, technology cities, export zones, marinas and urban developments. Governments change. Ministries change. Regulations change. Tax regimes change. Project priorities change. Investors are then expected to rediscover the country and renegotiate the state. Capital remembers institutional inconsistency longer than politicians do.

Fundamental difference

Sri Lanka’s sovereign default inevitably compounded this problem. Rebuilding credibility after an economic crisis takes time. No serious comparison with the Maldives should pretend otherwise. But macroeconomic stabilisation alone will not produce transformational investment. There is a fundamental difference between becoming stable and becoming investable. Stability is the foundation. Investability is an institutional product. It requires predictable taxation, enforceable contracts, transparent procurement, credible land policy, efficient approvals, functioning infrastructure and Government institutions capable of making decisions within commercial timeframes. Most importantly, investors need confidence that an agreement reached with the state is an agreement with Sri Lanka, rather than merely with whichever administration happens to occupy office.

Sri Lanka’s Board of Investment reported foreign direct investment inflows of $ 1.057 billion in 2025, an increase of 72% from the previous year. That recovery deserves recognition, particularly after the extraordinary economic dislocation surrounding the country’s 2022 sovereign default. Yet the composition of the number is revealing. Of the $ 1.057 billion received in 2025, only $ 134 million came from new projects contracted with the Board of Investment during the year. The remaining $ 923 million came from expansions and capital injections into existing operations

Sri Lanka’s pivotal position

There is another lesson from the Maldives. Small states can sometimes move faster precisely because they are small. Malé cannot offer investors Sri Lanka’s domestic market, workforce or industrial depth. It therefore has to sell clarity, speed and scarcity. A parcel of reclaimed waterfront is not presented simply as land. It becomes part of a national growth proposition tied to tourism demand, housing requirements, infrastructure and international capital. Sri Lanka frequently does the reverse. It possesses genuinely scarce assets and then surrounds them with administrative complexity. Consider what an international investor sees. Sri Lanka sits immediately beside India. Colombo occupies a pivotal position on the main east west maritime route. The country has established apparel manufacturing, ports, tourism, renewable energy potential and a substantial professional workforce. It also possesses something increasingly valuable in crowded Asia; extraordinary physical diversity compressed into a relatively small territory. Few countries can plausibly offer global investors logistics, tourism, manufacturing, renewable energy, urban real estate, technology and professional services from the same island. Why, then, should Sri Lanka be satisfied with annual FDI of roughly $ 1 billion? That is the question the Maldives announcement should provoke. It should not provoke envy. Nor should Sri Lanka blindly imitate a project whose economics remain to be demonstrated.

A $ 20 billion indicative development value becomes meaningful only if financing arrives, infrastructure is built, homes and commercial districts are occupied, tourists materialise and businesses generate sustainable returns.

An economy seeking structural transformation needs something more. It needs a continuous pipeline of new global companies willing to make large, long duration commitments involving capital, technology, management expertise and international networks. This is where the Maldives comparison becomes useful. Foreign capital does not necessarily choose the country with the greatest objective potential. It often chooses the country that makes its potential easiest to understand, price and execute

The Maldives itself faces substantial fiscal and external vulnerabilities. Its dependence on tourism creates exposure to global shocks. Large infrastructure ambitions require careful financing. Reclamation also carries environmental consequences that deserve serious scrutiny in one of the world’s most climate vulnerable countries. Ras Malé should therefore be judged over years, not by the size of a headline. But ambition matters. More precisely, the ability to translate ambition into a proposition that serious international investors and developers are prepared to negotiate matters.

Sri Lanka should be capable of doing this at a considerably greater scale. Imagine the country not as a collection of individual investment applications, but as a portfolio of internationally investable platforms. Colombo could become a South Asian headquarters, financial and professional services centre anchored by Port City. Trincomalee could be structured around energy, industry, logistics and one of Asia’s finest natural harbours.

Hambantota could develop a deeper industrial and maritime ecosystem around its port rather than remaining trapped in an endless geopolitical argument about how it was financed. Tourism could move beyond counting arrivals towards attracting significantly more investment and expenditure per visitor through integrated resorts, wellness, marine tourism, high-quality urban hospitality and carefully planned destinations. Renewable energy could support both domestic competitiveness and new export-oriented industries. The north and east could be connected much more deliberately to India’s enormous economic hinterland. None of these ideas is particularly novel. That is precisely the problem. Sri Lanka has discussed versions of them for years. The missing ingredient is not another vision document. It is execution architecture.

The need for institutional capacity

The State needs the institutional capacity to identify a limited number of transformational opportunities, resolve land and regulatory questions in advance, establish bankable legal structures, appoint empowered transaction teams and take completed propositions directly to the world’s major infrastructure funds, sovereign investors, developers, hotel groups, logistics companies and technology businesses. Investment promotion should be less about conferences and more about transactions. Countries do not receive tens of billions of dollars because ministers give persuasive speeches about strategic location. They receive capital when investors can see clearly how money enters, how returns are generated, how disputes are resolved and how capital eventually exits.

Sri Lanka should also resist one tempting conclusion from the Maldives announcement. The objective is not to find someone willing to announce an even larger number. Development value is not the same as foreign capital received. FDI is not synonymous with national prosperity. A megaproject is valuable only insofar as it produces productive activity, employment, exports, tax revenues, skills and opportunities that extend beyond the development boundary. The better question is therefore not: where is Sri Lanka’s $ 20 billion deal? It is this: why does Sri Lanka not have a sufficiently deep pipeline of credible projects capable collectively of mobilising capital on that scale? That is a harder question because the answer cannot be outsourced to foreigners.

There is a fundamental difference between becoming stable and becoming investable. Stability is the foundation. Investability is an institutional product. It requires predictable taxation, enforceable contracts, transparent procurement, credible land policy, efficient approvals, functioning infrastructure and Government institutions capable of making decisions within commercial timeframes. Most importantly, investors need confidence that an agreement reached with the state is an agreement with Sri Lanka, rather than merely with whichever administration happens to occupy office

Sri Lanka has what it takes

Sri Lanka has spent much of its modern economic history explaining its potential. The Maldives, faced with far greater physical constraints, is attempting to monetise its own. Whether Ras Malé ultimately fulfils its enormous promise remains uncertain. Commercial terms are an opening chapter, not the conclusion.

Financing, approvals, construction and eventual demand will provide the real test. But the announcement should nevertheless travel the short distance across the Indian Ocean and land heavily on policymakers’ desks in Colombo. A neighbour with a fraction of Sri Lanka’s population is asking international capital to participate in building an entirely new piece of a city. Sri Lanka already has the cities, ports, land, people, location, industrial capabilities and market access. Its great economic puzzle is why the whole continues to attract less international capital than the sum of those parts suggests. The most consequential investment question facing Sri Lanka may therefore no longer be whether the world is interested in the country. It is whether Sri Lanka has made itself sufficiently investable for the world to act on that interest.

It has been an eventful year for poultry producers across Sri Lanka. Global feed input costs have moved unpredictably through 2026, shaped by everything from regional fuel price swings to shifting import volumes of corn and soy, and those movements have worked their way down to the retail counter. Egg prices have adjusted more than once this year, and fresh chicken prices saw a noticeable spike in March as broader regional supply chains felt the effects of conflict elsewhere in the world. For an industry where feed can account for the majority of production cost, these are the kinds of swings that ripple through every farm, regardless of size.

It is a reminder that poultry, more than most food categories, is exposed to global commodity cycles even when the chicken itself never leaves the country. Sri Lanka imports the bulk of its feed ingredients, and that dependency means local prices move in step with international markets more than most consumers realise. A shift in shipping costs on the other side of the world, or a change in harvest yields in a completely different hemisphere, can show up at a Colombo market stall within weeks. Few consumers connect the two, but producers live with that connection every single day.

For an industry operating on such thin, globally exposed margins, the question worth asking is not whether volatility will arrive. It reliably does, in one form or another, most years. The more useful question is which producers are structured to absorb it without passing the full weight of it downstream, to farmers and consumers alike.

The farmers who feel it first

Within that picture, Sri Lanka’s poultry sector carries a structural feature worth understanding. Smallholder farmers make up the large majority of the country’s poultry farms, yet they account for a comparatively modest share of total output. It is a familiar pattern in agriculture: the smallest operators, often family run and reliant on poultry as one income stream among several, tend to have the least room to manoeuvre when costs move quickly. They are rarely positioned to negotiate favourable terms on feed, and they often lack a guaranteed buyer willing to commit to volumes ahead of time.

Many of these farms operate on land measured in fractions of an acre, run alongside other work, and depend on poultry to supplement household income rather than as a sole livelihood. That makes them resilient in one sense, since the household is rarely entirely dependent on the farm, but exposed in another, since there is little buffer to absorb a run of difficult months. When a farmer cannot predict what a bag of feed will cost from one purchase to the next, planning even a season ahead becomes genuinely difficult.

This is not a story about hardship so much as it is a story about structure. The farmers who benefit most from a difficult season are typically the ones already operating inside some kind of formal arrangement, one that gives them predictable demand and a stable relationship with a buyer, rather than one that leaves them to navigate the open market alone. The difference between the two is rarely about effort or skill. It is about whether a farmer is negotiating individually against a market that moves faster than any single smallholder can track, or negotiating as part of a structured relationship built to absorb some of that movement on their behalf.

Building the value chain differently

It is against that backdrop that New Anthoney’s Farms’ approach to sourcing stands out. Over the years, the company has built much of its production around structured contract farming and outgrower partnerships, working directly with independent farmers rather than relying solely on open market purchasing. Smallholders already contribute around 40 percent of New Anthoney’s total production, a notably higher share than smallholders typically achieve at the national level, reflecting a deliberate strategy of bringing farmers into the formal value chain rather than leaving them to compete outside it.

The model works because it aligns incentives on both sides. New Anthoney’s gains a more predictable, traceable supply of birds raised to its antibiotic free standard, which matters both for consumer trust and for the international recognition the company has built around its sourcing practices. In return, farmers gain something equally valuable: a known buyer, agreed terms, and technical support that helps lift productivity on farms that might otherwise struggle to access it independently. Over time, that support has extended beyond simple purchasing arrangements into guidance on biosecurity, feeding practices and flock management, the kind of knowledge transfer that raises a smallholder’s output more durably than a single good season ever could.

For the farmers involved, that arrangement offers something simple but valuable: a level of predictability that is difficult to come by when input costs are moving month to month. It does not remove the underlying cost pressures shaping the wider industry, but it does change how those pressures are shared, spreading the risk across a structured relationship rather than concentrating it entirely on the smallest link in the chain.

A familiar story across the region

Sri Lanka’s experience here is not unusual. Poultry industries across South Asia share a similar reliance on imported feed ingredients, which means producers across the region are all, to varying degrees, exposed to the same global price movements. What tends to differentiate markets that navigate this more smoothly is not the absence of that exposure, since geography and trade patterns are difficult to change quickly, but the presence of structures that distribute the impact more evenly, contract farming among them.

This pattern has played out in poultry markets well beyond South Asia, in Southeast Asia and parts of Latin America, where large integrators have built long term partnerships with independent growers rather than sourcing purely on spot markets. The common thread is not the size of the company, but the willingness to treat smallholders as long term partners rather than interchangeable suppliers. Seen in that light, New Anthoney’s model is less an isolated business decision and more a reflection of where the wider industry, in Sri Lanka and across the region, appears to be heading: toward closer integration between producers and the farmers who supply them, built on long term relationships rather than transactional, season to season purchasing.

Steady by design

None of this makes New Anthoney’s Farms immune to the cost pressures every poultry producer in Sri Lanka is currently navigating. What it does suggest is that the shape of a supply chain, specifically how closely a company works with the smallholders who form the backbone of the industry, has a real bearing on how smoothly that chain absorbs a volatile year. It also has a quieter benefit for consumers, since a supply chain built on stable, long term farmer relationships tends to produce more consistent quality and availability than one that depends on whichever suppliers happen to be offering the best price that week.

As feed costs and import dynamics continue to shift through the rest of 2026, the more instructive story may not be which producer moves fastest, but which model was built, well before this year’s volatility, to hold steady when it arrived. On that count, New Anthoney’s long standing commitment to contract farming and smallholder integration looks less like a response to a difficult season and more like the reason the season has been easier to weather than it might otherwise have been.

After nine years of building IT solutions and supporting businesses between Sri Lanka and the Netherlands, PRAM IT Solutions has entered a new chapter under the name Acendae.

The transition, which took place earlier this year, marks an important milestone for the company and its team. Acendae is now placing a stronger focus on helping Dutch companies access experienced developers, engineers and other digital professionals from Sri Lanka.

The business was originally established as PRAM IT Solutions and gradually developed extensive experience in working with Dutch clients while building its own team and operational capabilities in Sri Lanka. After almost a decade of operations, the decision to move forward under the Acendae name reflects the company’s ambition to build on that experience with a more focused international proposition.

According to the management, the renewed focus is driven by the increasing demand among Dutch companies for reliable technology talent and additional engineering capacity.

‘After nine years, this is a significant step for us. PRAM IT Solutions gave us the experience, relationships and foundation to get here. With Acendae, we want to put our full focus on helping Dutch companies build and scale their own engineering and development teams in Sri Lanka,’ says the Acendae management.

Acendae works with Dutch technology companies, software businesses and digital agencies that are looking to strengthen their development capacity. Depending on the needs of a client, this can involve individual developers and engineers as well as dedicated, multidisciplinary teams.

The company supports the process beyond recruitment. Acendae assists with sourcing and selecting professionals, onboarding, HR, payroll and operational management, while the Sri Lankan team works directly within the client’s existing processes, tools and communication structure.

Although PRAM IT Solutions has ceased operating under its former name, Acendae continues to handle its local hiring and employment-related activities in Sri Lanka through PRAM Solutions Ltd. This enables the company to maintain its local presence and employment infrastructure while Acendae develops its international activities under its new identity.

The transition therefore represents a continuation of the company’s existing journey rather than a complete break with the past. The knowledge, experience and relationships built over nine years remain at the foundation of Acendae’s current strategy.

With the transition now completed, Acendae is looking ahead to its next phase: strengthening its position as a technology partner for Dutch companies and creating more opportunities for Sri Lankan developers and engineers to work on international projects and become part of dedicated teams serving the Dutch market.

Sonali Rodrigo, an Australian finance professional with Sri Lankan origins, has been recognised with the prestigious AFG Women on the Move Scholarship, presented by Australian Finance Group (AFG), in recognition of her leadership, industry contribution and impact spanning more than two decades in Australia’s finance industry.

The AFG Women on the Move program is dedicated to supporting and advancing women in the finance and mortgage broking industry, recognising individuals who demonstrate leadership, professional contribution, growth, impact and a commitment to empowering other women. The scholarship is supported by leading industry partners, including HSBC and Thinktank.

Sonali’s career spans more than 20 years in Australia’s finance industry, encompassing senior leadership, financial advisory and governance roles. Alongside her professional responsibilities, she has actively mentored and supported women in their career development, contributed to financial literacy, and helped individuals make more informed financial decisions.

Her recognition reflects both her professional achievements and the broader impact of her leadership, particularly in creating opportunities and empowering the next generation of women in finance.

Commenting on the achievement, Sonali said, ‘Winning the Women on the Move Scholarship is both an affirmation of my journey and a reminder of the responsibility that comes with being visible. As the co-founder of Tomorrow Financial Solutions, I have had the privilege of supporting people, businesses and aspiring women in finance. If my journey can inspire even one woman to step forward with greater confidence and believe in what is possible, then this recognition means even more to me. I am truly proud, grateful and humbled by this honour.’

Sonali currently serves as the Chief Operating Officer of Tomorrow Financial Solutions (TFS), Australia, where she plays a key role in the company’s leadership and continued development within the Australian financial services sector.

Her recognition through the AFG Women on the Move Scholarship also underscores the calibre of leadership within TFS and its contribution to Australia’s finance industry. TFS is an Australian financial services provider and a strategic partner of the LOLC Group, one of Sri Lanka’s leading diversified conglomerates, with an established international presence across 27 countries.

The scholarship represents a significant personal milestone for Sonali, while also underscoring the value of experienced leadership, mentorship and greater representation of women across Australia’s finance and mortgage broking industry. Her journey exemplifies how professional achievement can be coupled with a commitment to creating opportunities and inspiring others to realise their own potential.

Having spent decades participating in Sri Lanka’s capital market, I believe we are at an important inflection point. The All Share Price Index has climbed above 21,000, while market capitalisation stands at around Rs.7.6 trillion. On paper, the market has recovered strongly. And yet, through much of this recovery, foreign investors have been walking out the door, with cumulative net foreign outflows reaching approximately Rs.57 billion during the first nine months of 2026. Foreign participation in market turnover, which was around 40% before the crisis, has fallen to approximately 9%.

This is the paradox we need to confront: a market rising in value while a significant part of the international investment community remains on the sidelines. In my view, this is not simply a cyclical problem. It is a structural chicken-and-egg cycle that has constrained the Colombo Stock Exchange for more than two decades.

Foreign investors wait for a bigger, more liquid market before they commit. The great domestic funds, including the EPF, ETF and SLIC, wait for greater depth before shifting more of their money into shares. Large private companies hold off listing while valuations and liquidity remain uncertain. Ordinary Sri Lankans stay away because financial literacy and confidence remain low.

Everyone is waiting for someone else to move first. I believe Sri Lanka now needs to break that cycle deliberately.

A market that has grown, but not deepened enough

Look closely and the weakness is structural. The listed universe has barely moved in 25 years, from around 240 companies to a peak near 300 between 2016 and 2021, and approximately 289 today. New arrivals have largely replaced companies that left, rather than adding materially to the breadth of the market.

Market capitalisation, meanwhile, has risen from roughly Rs.2-3 trillion to more than Rs.7.5 trillion. Much of that increase has come from the higher earnings and valuations of companies already listed, rather than from a sustained expansion in the number and scale of listed businesses. Measured in US dollars, the increase is also more modest because periods of rupee depreciation have eroded part of the gain.

The participation problem

Foreign participation in market turnover: approximately 40% before the crisis ? approximately 9% today.

Net foreign selling in 2026: approximately Rs.57.1 billion by late September

Listed companies: peak near 300 ? approximately 289 today

Adults who actively invest: only around 2-3%

Recent weekly average daily turnover: approximately Rs.1.2 billion

This will not correct itself through market movements alone. But the moment to act has arrived. Real GDP grew 5.1% in the first quarter of 2026 and a further 4.2% in the second quarter, extending the recovery. Government debt as a share of GDP had fallen to approximately 88.8% by June 2026, from around 95% at end-2025. Gross official reserves reached approximately $ 6.9 billion by end-August 2026.

The rupee has depreciated during 2026, but the extreme currency instability of 2022 has not returned. The fears that drove investors out in 2022-a collapsing currency and a shortage of Dollars-have eased materially. Sri Lanka has rebuilt a significant degree of macroeconomic stability.

The question now is: how do we turn that stability into investment, liquidity and broad-based wealth?

The 10 steps

I do not believe there is one magic solution. The ten measures below are interlocking. Each reinforces the others. But one measure could provide the initial catalyst: bringing selected State-owned enterprises to the market.

If we can create a deeper, more liquid and more internationally credible capital market, the benefits will extend far beyond the CSE. It can help mobilise domestic savings, attract foreign capital, improve corporate governance, create new investment opportunities and allow millions of Sri Lankans to participate in the growth of their own economy. The opportunity is much larger than increasing the market capitalisation of the Colombo Stock Exchange. It is about creating a culture of ownership in Sri Lanka. We have rebuilt considerable economic stability. We now need to build the financial architecture that allows that stability to translate into long-term prosperity

List selected State-Owned Enterprises

This could be the most powerful initial catalyst available. The Government can create a professionally run holding company on the model of Singapore’s Temasek Holdings, or list selected enterprises individually. Either way, the State could retain ownership comfortably above 80% and offer only 10-20% to the market, so control remains firmly with the State.

The 51 major State-owned enterprises recorded combined profits of approximately Rs.444 billion in 2025, while the broader group excluding CEB generated about Rs.483 billion. With cost-reflective pricing, restructuring and continued reform, there is potential for aggregate earnings to move substantially higher, potentially towards Rs.700-750 billion.

At a hypothetical 10-times earnings valuation, Rs.750 billion of earnings would imply approximately Rs.7.5 trillion of market capitalisation. Selling 20% of that illustrative value would raise approximately Rs.1.5 trillion, or around $ 4.5 billion at an illustrative exchange rate. The precise valuation and proceeds would depend on the businesses, profitability, governance and market conditions at the time of listing.

The benefits extend beyond the proceeds. Public listing would bring greater transparency, disclosure and shareholder scrutiny, potentially improving governance, profitability, dividends and tax contributions over time.

Put institutional money to work

The EPF, ETF and SLIC collectively manage several trillion rupees, with the overwhelming majority invested in fixed income. A carefully phased increase in listed-equity exposure-subject to fiduciary duties, risk limits, governance and proper asset-allocation policy-could inject significant long-term liquidity into the market.

The gains could run in several directions at once: deeper liquidity, sharper price discovery, greater confidence and potentially better long-term returns for pension holders. It would also reduce concentration risk from having such a large pool of national savings in a single asset class.

Keep lifting the sovereign credit rating

Sri Lanka’s sovereign ratings remain in the lower speculative-grade range, although the direction has improved following debt restructuring and macroeconomic stabilisation. A steady, multi-year climb towards investment-grade territory, built on continued fiscal consolidation, reserve accumulation and credible policy, would change how the world prices the country.

The benefits could compound: more foreign investment, a lower country-risk premium, a cheaper cost of capital and stronger valuation multiples across the market. Sovereign-credit improvement and capital-market development can reinforce each other.

Let interest rates settle lower over time

This is a structural point, not a call to cut rates tomorrow. Monetary policy must continue to protect price and financial stability. But as inflation stabilises and the sovereign trajectory improves, the cost of government borrowing should ease over time, and that has consequences for shares.

A high risk-free rate is the stock market’s most direct competitor for capital. When Treasury bills yielded above 30%, few investors would hold equities. At around 10% and stable, shares regain some of their relative appeal, while lower discount rates can support valuations. A predictable, normalising rate environment is a genuine tailwind.

Create the conditions for larger IPOs

Once liquidity and valuations improve, the incentive to list changes for large private companies that have long stayed on the sidelines. Apparel, tea, IT, tourism, renewable energy, manufacturing, healthcare and logistics all contain candidates capable of coming to market at meaningful scale.

A stronger IPO pipeline would then feed back into the market, adding capitalisation and liquidity-a virtuous circle that replaces the vicious one the market is caught in today.

Win back foreign institutions

International investors are not mysterious in what they want: enough liquidity to enter and exit, an investable market large enough to matter, sound governance, transparent regulation and macroeconomic stability.

As those improve, foreign participation can recover from today’s approximately 9% level, and Sri Lanka can position itself over time for greater inclusion in global emerging-market and frontier-market indices that channel institutional capital.

The urgency is real. Foreign investors have been net sellers of Sri Lankan equities by approximately Rs.57 billion so far in 2026. A deep, liquid equity market is one of the channels available for attracting portfolio capital, while a well-run market signals to other investors that the country is open for business.

Tap the diaspora in foreign currency

Close to three million Sri Lankans live abroad, and their savings and networks are considerable. Yet little of that money reaches the domestic capital market, for one simple reason: bringing it home means accepting the risk that the rupee will fall, and many people will not take that risk.

The answer is to allow suitable investment structures in which investors can retain foreign-currency exposure, subject to appropriate regulation. India has demonstrated the potential scale of such a mechanism through its FCNR(B) deposit mobilisation measures and related currency-swap support. Sri Lanka could never mobilise on that scale and does not need to. Even a few billion dollars of long-term diaspora money would add depth and ease pressure on external financing.

The tools could include foreign-currency deposits, a government-backed development bond of the kind used by countries such as Israel and India, and a carefully designed Central Bank swap facility working behind the banking system. That last piece must be introduced cautiously and in stages, because the currency risk it lifts from banks does not disappear-it moves to the Central Bank.

Bring in ordinary Sri Lankans

Only around 2-3% of adults actively invest in shares, extraordinarily low by any international measure. The causes are well known: limited financial literacy, little understanding of equity investing, years of negative publicity and an insufficiently coordinated investor-education effort.

A national programme bringing together the SEC, CSE, universities, schools, the media, stockbrokers and financial institutions could broaden participation substantially and set millions of households on the path to long-term wealth. Investor education should focus not on speculation, but on ownership, diversification, compounding, valuation and risk management.

Market Sri Lanka to the world, after the reforms are real

Once the structural work is done, the country should launch a coordinated global campaign aimed at institutional investors, sovereign wealth funds, international fund managers, the diaspora and multinationals.

The sequence is everything. Marketing must follow reform, never precede it, because credibility depends on investors seeing genuine change before the message is amplified. A promotion campaign that runs ahead of the substance does more harm than good.

Demutualise the Colombo Stock Exchange

The exchange’s governance structure should continue moving towards an independent, professionally governed corporate model that separates exchange governance from the commercial interests of market intermediaries.

Demutualisation would strengthen governance and create the possibility of strategic international participation, potentially bringing world-class trading technology, settlement infrastructure and international credibility. A future strategic stake for an international exchange or market-infrastructure partner could help accelerate modernisation and strengthen the credibility needed to attract foreign institutional capital.

It would also signal that Sri Lanka’s capital market is ready to operate to international standards.

The prize: turning stability into ownership

Put these measures together and the prize is transformational. As SOE listings, a stronger flow of IPOs and continued earnings growth take hold, the total profits feeding the market could increase substantially. A deeper, better-regulated market could then support a much larger capitalisation and the daily trading depth that global capital demands.

Illustrative long-term scenario

Listed earnings within 2-3 years: ˜ Rs.1 trillion

Potential SOE profits under a successful reform scenario: ˜ Rs.700-750 billion

Potential additional profits from larger IPOs and market expansion: ˜ Rs.250 billion

Illustrative total potential corporate earnings: ˜ Rs.2 trillion

Illustrative market capitalisation at 15× earnings: ˜ Rs.30 trillion

Illustrative daily turnover range: Rs.35-70 billion

These figures are an illustrative scenario rather than a forecast. They show the scale of the opportunity if structural reforms, new listings, earnings growth, liquidity and investor participation reinforce one another.

The time to break the cycle is now

Having spent decades participating in Sri Lanka’s capital market, I believe we are at an important inflection point. The country has spent the past few years rebuilding macroeconomic stability. The next challenge is to convert that stability into investment, liquidity and long-term wealth creation.

We should not wait for foreign investors to return before we deepen our market. We should not wait for larger companies to list before creating liquidity. And we should not wait for ordinary Sri Lankans to become investors before providing them with the education and confidence to participate.

Someone has to move first.

The Government can provide the catalyst through selected SOE listings. Institutional investors can provide depth. Large private companies can provide new listings. The SEC and CSE can strengthen market infrastructure and investor confidence. The Central Bank can help create appropriate mechanisms for diaspora capital. And the business community has a responsibility to bring more successful Sri Lankan enterprises into the public market.

These actions are not separate initiatives. They are pieces of the same solution.

If we can create a deeper, more liquid and more internationally credible capital market, the benefits will extend far beyond the CSE. It can help mobilise domestic savings, attract foreign capital, improve corporate governance, create new investment opportunities and allow millions of Sri Lankans to participate in the growth of their own economy.

The opportunity is much larger than increasing the market capitalisation of the Colombo Stock Exchange. It is about creating a culture of ownership in Sri Lanka.

We have rebuilt considerable economic stability. We now need to build the financial architecture that allows that stability to translate into long-term prosperity.

The chicken-and-egg cycle has continued for long enough. Someone must move first. I believe that time is now.

Hayleys Solar has completed a major solar energy transformation for Toyota Lanka Ltd., installing a combined 3.3 MWp of solar generation capacity across four of the automotive group’s key facilities nationwide. The rollout is expected to generate roughly 4.6 GWh of clean electricity a year, enough to supply close to 1,900 average Sri Lankan households annually, while cutting an estimated 2,300 tonnes of CO2 emissions each year.

The project spans four facilities: Toyota Lanka Head Office (640.15 kWp), the Toyota Lanka Body Repair and Paint Centre (461.97 kWp), the Toyota Lanka Ratmalana facility (432.47 kWp), and the Toyota Lanka Fulfillment Centre, delivered in two phases (585.28 kWp and 1,194.75 kWp), totaling 3,314.62 kWp. Designing and delivering a phased build-out of this size for a single client group showcases Hayleys Solar’s ability to plan, sequence, and execute large, multi-site commercial solar programs, not just individual installations.

Toyota Lanka Managing Director/Chief Executive Officer Manohara Atukorala described the project as a reflection of the company’s long-term commitment to sustainable operations and its contribution to Sri Lanka’s transition towards clean energy.

‘Partnering with Hayleys Solar has enabled us to move beyond a single-site initiative towards a coordinated, company-wide solar strategy. This marks an important step in Toyota Lanka’s long-term sustainability journey. As we continue to expand our islandwide presence, with the goal of establishing a network of 30 branches across Sri Lanka by 2026, we are equally committed to integrating renewable energy solutions across our operations. Through initiatives such as this, we aim to reduce our carbon footprint and ensure that our business growth goes hand in hand with greater environmental responsibility.’

For Hayleys Fentons Ltd., Managing Director Hasith Prematillake, the project is a clear example of what’s possible when a leading Sri Lankan business partners with the company on a long-term, group-wide clean energy strategy. ‘Toyota Lanka’s decision to scale solar across four of its facilities reflects the kind of ambition we want to see more of in the corporate sector, and it reinforces Hayleys Solar’s position at the forefront of large-scale commercial and industrial solar in Sri Lanka.’

Hayleys Fentons Deputy Managing Director – Energy Roshane Perera said, ‘This project reflects the continued confidence that leading corporates place in Hayleys Solar to deliver reliable, high-quality solar solutions across multiple locations. Our proven technical capabilities, strong project management expertise and island-wide execution capacity enable us to support organisations such as Toyota Lanka in advancing their long-term sustainability goals through scalable clean energy solutions.’

As rooftop and ground-mounted solar become increasingly central to Sri Lanka’s clean energy transition, Hayleys Solar continues to expand its footprint in the large-scale commercial and industrial segment, positioning multi-site, phased programs like this one as a blueprint for how Sri Lankan businesses can decarbonise at scale.

The Sri Lanka Food Processors Association (SLFPA) successfully convened its 29th Annual General Meeting (AGM) on 23 September, 2026, at the Water’s Edge Hotel, Battaramulla. Bringing together key industry stakeholders and member organisations, the event served as a platform to review milestone achievements from the 2025/2026 term and outline strategic priorities for the nation’s food and beverage processing sector.

Founded in 1997 as an advocacy body, SLFPA has grown to represent over 185 member companies-ranging from small and medium-sized enterprises (SMEs) to major multinational corporations-dedicated to driving industrial growth, quality standards, and export capabilities

The keynote address was delivered by, Food and Agriculture Organisation (FAO) of the United Nations Assistant Representative (Program) for Sri Lanka and the Maldives Nalin Munasinghe.

Addressing the 29th Annual General Meeting of the Sri Lanka Food Processors Association, representative from the Food and Agriculture Organisation (FAO) called for an integrated approach to food systems transformation. Emphasising that food loss and waste must be addressed across the entire value chain from producers to consumers, the speech highlighted the need for strategic policy support, advanced technology, and improved infrastructure.

Key priorities outlined included transitioning from simple waste management to viewing waste as a resource, adopting sustainable packaging alternatives to single use plastics, and investing in cold chain logistics. The representative underscored the critical role of data collection, farm to table food safety, and full product traceability to meet stringent global export standards and ensure long-term food security.

Reaffirming FAO’s strategic partnership with local ministries and industry leaders, the speaker urged processors to unite, innovate, and maximise value creation to support Sri Lanka’s agricultural economy.

SLFPA President Aruna Senanayake highlighted the key achievements for the 2025/2026 term in policy advocacy, capacity building, and industry expansion as follows;

During the year, SLFPA presented a comprehensive industry development strategy to the President Anura Kumara Dissanayake to boost sector competitiveness and export performance at the meeting organised by Export development Board. In partnership with the Ministry of Health and FAO, the association established a nationwide Food Handler Training initiative targeting approximately 1,000 workers. The flagship ProFood ProPack and AgBiz 2026 exhibition achieved record success, drawing nearly 26,000 visitors and 427 stalls. Highlighting member engagement and industry development, the President also showcased key SLFPA initiatives, including the annual SLFPA Cricket Tournament and the SLFPA Knowledge Circle. Also, the Association launched a sector-focused career facilitation platform aimed at connecting skilled professionals, job seekers, and interns with emerging employment opportunities across Sri Lanka’s growing food processing industry.

Building Development Project Project Chair and Immediate Past President Thusith Wijesinghe briefed attendees on major strategic initiatives, noting significant advancement on the ‘SLFPA Tower’ headquarters project.

A significant highlight of the evening was a special ceremony honoring all Past Presidents of the Association who have served from 1997 to the present day. Each former president was presented with a commemorative memento in appreciation of their foundational leadership and lasting contributions to Sri Lanka’s food processing ecosystem.

The event was supported by key industry partners, with SGS Lanka Ltd., serving as the Platinum Sponsor. Unilever Sri Lanka Ltd., and Nestlé Lanka Ltd., joined as Gold Sponsors, Ceylon Agro Industries – Prima as the Silver Sponsor, while Lanka Exhibition and Conference Services (LECS) and Hero Nature Products Ltd., supported as Bronze Sponsors.

The proceedings concluded with a vote of thanks delivered by Honorary Secretary Deepal De Alwis, followed by cocktails and a fellowship networking session, providing an opportunity for members to connect and strengthen industry ties.

Bank lending against gold grew by more than Rs. 200 billion in the first six months of 2026. That was the second-largest increase of any sub-sector, only just behind financial and business services, Central Bank of Sri Lanka (CBSL) data showed.

Pawning loans rose Rs. 211.9 billion, or 23.6%, in the first half of 2026, from end-December 2025 to end-June, to Rs. 1.11 trillion. Lending by Licensed Commercial Banks (LCBs) to financial and business services rose Rs. 212.7 billion, or 27.1%, to Rs. 996.8 billion, just Rs. 0.8 billion more.

Pawning took 18.6% of the Rs. 1.14 trillion in new credit to the private sector in 1H. It accounted for nearly half of the Rs. 443.5 billion increase in personal loans, and was more than twice the Rs. 86.6 billion in new lending to agriculture and fishing. Its share of total bank loans rose to 9.9% from 8.9% at end-December 2025, after it crossed Rs. 1 trillion in March.

It is now the third-largest sub-sector, behind construction at Rs. 1.91 trillion and wholesale and retail trade at Rs. 1.13 trillion.

Because pawning loans are fully secured against gold, they carry lower risk for banks. However, the amount that can be borrowed rises and falls with the price of gold.

Together, pawning and financial and business services accounted for Rs. 424.6 billion, or 37%, of new credit in 1H. That was more than the Rs. 358 billion lent to the whole services sector, and more than the Rs. 335.5 billion lent to industry and agriculture combined.

The figures show that bank credit growth in 1H came mainly from households and financial firms, not from businesses outside the financial sector. Personal loans and lending to financial and business services together took 58% of new credit. Non-financial businesses in agriculture, industry, and services took 39%.

Financial and business services’ share of total loans rose to 8.9% from 7.8%, with Rs. 65.7 billion of its 1H gain coming in June alone. The CBSL does not break down lending within this category, which can include loans to finance and leasing companies that lend the funds on.

Personal loans and advances, which exclude housing loans, rose Rs. 443.5 billion, or 20%, to Rs. 2.67 trillion. That was 39% of all new credit in 1H, and their share of total loans rose to 23.8% from 22.1%.

Loans for consumer durables rose Rs. 53.5 billion, or 66.2%, to Rs. 134.2 billion, which shows households financing more purchases of durable goods through bank credit.

Their share of total loans rose to 1.2% from 0.8%. Other personal loans grew Rs. 136.9 billion, or 14.2%, to Rs. 1.1 trillion. Credit card balances rose Rs. 13.3 billion, or 6.9%, to Rs. 206.6 billion, though their share slipped to 1.8% from 1.9%.

The Rs. 443.5 billion increase in personal loans matched the Rs. 444 billion increase in lending to non-financial businesses. In other words, households took on as much new bank debt, excluding housing loans, as all businesses outside the financial sector combined. The share of non-financial businesses in total loans fell to 58.2% from 60.4% at end-December 2025.

Industry remains the largest borrowing sector but grew slowest in 1H. Its lending rose Rs. 248.9 billion, or 6.5%, to Rs. 4.08 trillion, and its share fell to 36.4% from 38%.

Construction added Rs. 85.4 billion, or 4.7%, to Rs. 1.91 trillion, and its share fell to 17.1% from 18.1%. Personal housing loans, which the CBSL counts under construction, rose Rs. 35.5 billion, or 3.9%, to Rs. 938.3 billion.

Their share fell to 8.4% from 9%. Textiles and apparel added Rs. 20.9 billion, or 5.1%, to Rs. 427.6 billion, and its share fell to 3.8% from 4%.

Chemical, petroleum, pharmaceutical, healthcare, rubber, and plastic products was one of the few manufacturing categories to gain share. Its lending rose Rs. 42.8 billion, or 18.9%, to Rs. 269.1 billion, and its share rose to 2.4% from 2.2%. Food and beverages grew Rs. 26.7 billion, or 10.9%, to Rs. 270.4 billion. Basic metal products rose 12.2% to Rs. 86.1 billion.

Credit to fabricated metal products, machinery, and transport equipment fell Rs. 21.8 billion, or 6.8%, to Rs. 299.3 billion. Almost all of the fall came in June, when lending dropped Rs. 22.2 billion, and the category’s share fell to 2.7% from 3.2%.

Lending to construction and to machinery and transport equipment, which pays for buildings and equipment, grew slowly or fell. So far, that shows little sign of a broad pickup in business investment financed by banks.

Services lending as a whole rose Rs. 358 billion, or 11.5%, to Rs. 3.47 trillion. Its share held steady at 30.9%, but almost 60% of the increase went to financial and business services. Wholesale and retail trade added Rs. 35.3 billion, growth of just 3.2%, to Rs. 1.13 trillion, and its share fell to 10.1% from 10.8%.

Tourism credit rose Rs. 40.1 billion, or 14.1%, to Rs. 325 billion. Lending to shipping, aviation, and freight forwarding rose 33.6% to Rs. 51.5 billion, and communication and information technology rose 5.6% to Rs. 144.5 billion.

Agriculture and fishing credit rose Rs. 86.6 billion, or 9.5%, crossing Rs. 1 trillion in June. Its share was broadly steady at 9%. Paddy lending rose Rs. 20.5 billion, or 27.2%, to Rs. 95.8 billion. Livestock and dairy farming rose Rs. 17.8 billion, or 23.7%, to Rs. 92.7 billion. Tea, the largest farm sub-sector, grew Rs. 15.6 billion, or 8%, to Rs. 209.8 billion.

Year-on-year, the shift is starker. Pawning rose Rs. 381.4 billion, or 52.4%, from end-June 2025, and its share of total loans rose to 9.9% from 8.3%. Lending to financial and business services rose Rs. 464.1 billion, or 87.1%, and its share rose to 8.9% from 6.1%.

Personal loans grew 39.8%, the fastest of the four main sectors, while industry grew 19.2% and its share fell from 39%. Non-financial businesses’ share fell four percentage points from 62.2%. Consumer durables loans more than doubled. Communication and information technology was 14.5% lower than a year earlier, and shipping, aviation, and freight forwarding 10% lower.

The CBSL started the monthly sectoral survey in April 2025, replacing a quarterly survey. It warns that some sub-sector growth during the switchover partly reflects reclassifications by individual banks. The survey covers LCBs only and does not include finance companies. June 2026 figures are provisional.

The Sri Lanka Convention Bureau (SLCB), the national tourism organisation responsible for the development and promotion of Sri Lanka’s Meetings, Incentives, Conferences and Exhibitions (MICE) industry, has announced the launch of SL MICE Expo 2026, bringing together over 120 international hosted buyers and media representatives from 27 countries.

The fifth edition of the flagship MICE event is scheduled to take place in Colombo from 5-9 October 2026, further strengthening Sri Lanka’s position as a competitive and compelling destination for international business events. The Expo is being organised in line with the SLCB Marketing Plan 2026 and builds on the strong momentum generated by previous editions.

Sri Lanka is gifted with an amazing diversity of attractions from beaches, ancient cities, and sanctuaries for wildlife, to hill country tea plantations, literally within a few hours of each other. These are featured in pre and post tours of MICE events. Although well on the road to modernisation, the country and its people still cherish most of their traditional values and take pride in their rich culture, an aspect, which continue to attract visitors from abroad.

Since its inception in 2021, the SL MICE Expo has evolved from a virtual initiative into a leading international platform connecting Sri Lanka’s MICE industry with global buyers, media and industry stakeholders. The event has consistently provided opportunities to showcase Sri Lanka’s distinctive destination offering, while creating new avenues for business development, partnerships and international collaboration.

Sri Lanka offers an exceptional combination of business infrastructure, natural beauty, cultural heritage and diverse experiences within a compact geographical area. From pristine beaches and vibrant cities to ancient kingdoms, wildlife sanctuaries and the scenic hill country, the island provides a wide range of experiences that can be incorporated into MICE programs and pre-and post-event tours.

The country’s rich cultural heritage and enduring traditions add further depth to the destination experience, enabling international MICE visitors to combine business with authentic cultural, leisure and incentive travel experiences.

Tourism Deputy Minister Prof. Ruwan Ranasinghe stated that the Government recognises the MICE sector as a key driver of tourism growth and welcomed SL MICE Expo 2026 as an important platform to showcase Sri Lanka’s MICE potential to international buyers and media.

SLCB Chairman Dheera Hettiarachchi stated that SL MICE Expo 2026 will create valuable opportunities for Sri Lankan MICE industry partners to build international business connections and partnerships.

SL MICE Expo 2026 will bring together international MICE buyers, media representatives and Sri Lankan tourism and MICE industry stakeholders through a program designed to encourage meaningful business engagement.

The program will feature; a business forum exploring current trends and opportunities in the MICE industry, an inaugural plenary session featuring esteemed keynote speakers, a comprehensive business and networking program (B2B meetings) connecting international hosted buyers with Sri Lankan MICE suppliers to generate business leads, partnerships and future opportunities, networking events that provide opportunities for international and local industry professionals to build long-term relationships, destination experiences highlighting Sri Lanka’s unique tourism, cultural and leisure offerings, familiarisation experiences designed to give hosted buyers and media first-hand exposure to Sri Lanka’s MICE capabilities and destinations.

The event will serve as a dynamic marketplace where buyers and sellers can explore new products and services, exchange industry knowledge and identify opportunities for collaboration.

The participation of over 120 hosted buyers and media representatives from 27 countries demonstrates the growing international interest in Sri Lanka as a destination for business events.

Through SL MICE Expo 2026, SLCB aims to deepen relationships with key international markets, while providing Sri Lankan MICE suppliers with direct access to decision-makers and influential media from around the world.

The Expo is also expected to generate wider economic benefits by encouraging international business events, incentive travel and conferences to Sri Lanka, supporting tourism enterprises and local communities across the island.

SL MICE Expo 2026 represents another significant step in SLCB’s efforts to position Sri Lanka as a world-class MICE destination-one that combines value, connectivity, hospitality and extraordinary experiences with the professional capabilities required to host successful international events.

With its growing international participation and strong engagement from the local MICE industry, the 2026 Expo is set to create new business opportunities, strengthen global partnerships and showcase the many possibilities that Sri Lanka offers to the international MICE community.

UNESCO’s new Culture × El Niño 2026-2027 campaign warns that drought, wildfire, torrential rain, flooding and cyclones can damage cultural and natural heritage, museums, collections and living heritage. Its emphasis is preparedness before disaster, including readiness checklists, training and emergency funding.

For Sri Lanka, this is not only a cultural question. Heritage supports tourism, local livelihoods, identity and economic activity. When a heritage site or cultural practice is disrupted, the loss can travel through an entire local economy.

Businesses understand continuity planning: identify critical functions, map dependencies, create backups and define recovery priorities. Heritage institutions need the same operational discipline.

A temple, museum, archive, historic district or traditional craft ecosystem has dependencies too. It may rely on specialist custodians, climate-sensitive collections, transport access, power, water, digital records, community knowledge and visitor revenue.

If these dependencies are not mapped before a flood, fire or extreme-weather event, recovery becomes slower and more expensive.

Heritage preparedness should therefore be treated as an investment rather than an emergency expense.

A practical model would rank assets by vulnerability and recovery difficulty, establish emergency decision authority, digitise essential records, identify temporary storage or relocation options, train staff and communities, and connect cultural institutions with national disaster-management systems.

This does not commercialise heritage. It recognises that continuity is part of stewardship.

Sri Lanka’s heritage has survived centuries because communities continuously maintained it. Modern risk management can strengthen that tradition rather than replace it.

The important shift is from asking how much it costs to protect heritage before a disaster to asking how much cultural and economic value becomes unrecoverable if preparation begins only afterward.

Resilience is not reconstruction. It is the capacity to prevent an emergency from becoming a permanent cultural loss.