Asianet Pakistan Private Limited

Despite its strategic location and strong legal foundations, Sri Lanka continues to face challenges in attracting foreign direct investment. The experience of the DIFC offers important insights. The DIFC is frequently described as a successful financial free zone, but its achievements extend far beyond tax incentives and commercial real estate. Its success is rooted in the creation of an integrated business ecosystem supported by modern legislation, specialised courts, efficient dispute resolution mechanisms, regulatory certainty, and strong institutional governance. Together, these elements have enabled the DIFC to become one of the leading destinations for international business and investment in the Middle East.

The DIFC success: Institutional confidence

Discussions surrounding the DIFC often focus on commercial incentives such as foreign ownership benefits and free-zone privileges. While these incentives contribute to its attractiveness, they are not the principal reason international businesses choose to invest and operate within the DIFC. The true success of the DIFC lies in its ability to create institutional confidence. Investors are more likely to commit long-term capital when they operate within a system that offers legal certainty, predictable regulation, and efficient dispute resolution. Businesses need confidence that contracts will be enforced, property rights will be protected, and disputes can be resolved quickly and fairly.

The DIFC addresses these concerns through a sophisticated framework of commercial laws, independent courts, modern arbitration mechanisms, and specialised regulatory institutions. This combination reduces transaction risk and provides the level of certainty to meet international investors’ demand before deploying capital. For Sri Lanka, strengthening institutional confidence may be more important than expanding investment incentives. Ultimately, investors are attracted not only by economic opportunities but also by reliable institutions.

Understanding the DIFC legal structure

One of the defining features of the DIFC is its unique legal structure. The DIFC operates as an independent common law jurisdiction within the broader legal framework of the United Arab Emirates. It possesses its own legislative framework, regulatory institutions and courts, creating a legal environment that is familiar to multinational corporations and international investors. This framework has often been described as a “law within a law” because it functions as a distinct commercial legal system operating alongside the UAE’s civil law framework.

The DIFC has enacted a comprehensive body of legislation covering:

Contract law

Company law

Employment law

Insolvency and restructuring

Data protection

Trusts and foundations

Commercial transactions

Financial regulations

Importantly, these laws are designed to reflect international best practices and common law principles. This familiarity is particularly attractive to foreign investors because it reduces legal uncertainty and aligns commercial transactions with internationally recognised standards.

For Sri Lanka, this demonstrates that a competitive investment environment depends not merely on offering incentives but on maintaining a modern legislative framework that provides certainty, predictability and commercial efficiency.

The DIFC Courts

At the centre of the DIFC’s success is its specialised court system. The DIFC Courts were established to provide an independent, English-language common law judiciary capable of handling complex commercial disputes. Proceedings are conducted entirely in English, judges are drawn from distinguished legal backgrounds, and judicial reasoning follows common law principles familiar to international businesses and legal practitioners.

The DIFC Courts Law No. 2 of 2025 provides a modern judicial framework comprising:

The Court of Appeal

Courts of First Instance

The Small Claims Tribunal

The law grants the DIFC Courts jurisdiction over civil, commercial, employment and arbitration-related disputes connected to the DIFC. It also allows parties to opt into the jurisdiction of the DIFC Courts through clear written agreements, giving businesses flexibility in selecting their preferred dispute resolution forum. The 2025 legislation further strengthened the court system through provisions relating to mediation, arbitration support, interim relief, enforcement, specialist courts, and judicial administration. The law also establishes a Mediation Centre within the DIFC Courts and confirms the courts’ jurisdiction over arbitration-related matters, reflecting a broader commitment to efficient commercial dispute resolution.

For Sri Lanka, one of the most significant lessons is that specialised commercial courts can become an important investment-enabling institution. Investors are often attracted to jurisdictions where commercial disputes are handled by judges with specialist expertise and where outcomes can be obtained within predictable timeframes.

Procedural efficiency as an economic advantage

The DIFC has also distinguished itself through a strong emphasis on procedural efficiency. Commercial disputes can impose significant costs on businesses. Prolonged litigation often delays investment decisions, reduces business confidence, and increases transaction costs.

To address these concerns, the DIFC Courts operate under a structured procedural framework characterised by active judicial case management, fixed procedural timetables, and clearly defined

stages of litigation. Case progression schedules govern service of claims, disclosure, witness statements, expert evidence, case management conferences and trial preparation.

The courts also embrace technology. The DIFC Courts Law expressly permits remote hearings, video-link testimony, and other electronic methods of presenting evidence and conducting proceedings. These measures have helped create a system that businesses perceive as efficient and responsive.

Sri Lanka’s investment system could be significantly strengthened through similar reforms aimed at reducing procedural delays, embracing digitalisation and improving case management practices within commercial litigation.

Mediation and the promotion of early resolution

Modern commercial jurisdictions increasingly recognise that litigation should not always be the primary means of dispute resolution. In line with this, the DIFC Courts Law No. 2 of 2025 establishes a dedicated Mediation Centre tasked with facilitating the amicable settlement of disputes. The law also provides that settlement agreements approved through the Mediation Centre may be enforced directly, thereby reducing the need for additional litigation if a party subsequently fails to honour its obligations. This reflects an important institutional principle: dispute resolution systems should encourage resolution rather than merely adjudication.

For Sri Lanka, stronger integration of mediation within the commercial justice system could reduce court congestion, lower costs for businesses and contribute to a more investment-friendly environment.

Arbitration as a strategic investment tool

International businesses frequently prefer arbitration because it offers neutrality, procedural flexibility, and the prospect of easier cross-border enforcement. Recognising evolving global practice, the DIFC has proposed substantial reforms to its arbitration framework through the proposed Arbitration and Mediation Law. The proposed reforms introduce modern procedural tools including:

Summary determination

Security for costs

Joinder and consolidation

Emergency arbitrators

Provisional awards

Expanded tribunal powers

Third-party funding provisions

Enhanced enforcement mechanisms

The reforms are intended to align the DIFC with leading arbitral jurisdictions while reinforcing its position as a pro-arbitration commercial centre.

Sri Lanka has already taken steps to develop arbitration as an alternative dispute resolution mechanism. However, further reforms that strengthen institutional arbitration and align procedures with international best practices could greatly enhance the country’s appeal to foreign investors.

Effective enforcement and investor confidence

Even the most sophisticated legal framework loses value if judgments and awards cannot be effectively enforced. The DIFC places considerable emphasis on enforcement. The 2025 DIFC Courts Law establishes detailed provisions governing enforcement judges, enforcement writs, arbitration awards, foreign judgments, and mediated settlement agreements. The legislation also confirms mechanisms for cooperation between the DIFC Courts and Dubai Courts in respect of enforcement matters. Importantly, the DIFC framework recognises that commercial certainty requires more than favourable judgments; it requires that those judgments translate into practical outcomes. For investors, enforcement is often the ultimate test of a legal system’s effectiveness.

Sri Lanka could significantly strengthen investor confidence through measures that accelerate judgment enforcement, improve execution procedures and modernise insolvency and restructuring frameworks.

Regulatory credibility and policy consistency

The DIFC’s attractiveness is also linked to its coherent regulatory architecture. Businesses operating within the DIFC benefit from a system in which legislation, regulation, dispute resolution and enforcement work together as part of an integrated governance framework. Investors know which rules apply, which institutions administer those rules and how disputes will ultimately be resolved. Such predictability is a significant competitive advantage. Investors can adapt to regulatory requirements when they are transparent, stable, and consistently applied. Uncertainty, by contrast, often discourages long-term investment.

For Sri Lanka, maintaining policy consistency and strengthening institutional coordination remain critical priorities for improving the investment climate.

Insights for Sri Lanka

The DIFC demonstrates that successful investment destinations are built upon strong institutions rather than incentives alone. Its experience highlights the importance of:

Modern commercial legislation

Specialised business courts

Efficient procedural system

Comprehensive arbitration frameworks

Strong mediation mechanisms

Effective enforcement procedures

Predictable regulatory governance

Sri Lanka already possesses many of the foundations necessary for such reforms. The challenge lies in strengthening institutions, modernising legal frameworks, and enhancing the overall predictability of the business environment.

Conclusion

The DIFC’s success is often discussed in economic terms, yet its greatest achievement is the creation of trust. Through modern laws, independent courts, effective dispute resolution mechanisms and coherent regulatory governance, the DIFC has created an environment in which investors can operate with confidence. Businesses understand how the rules apply, how disputes will be resolved, and how rights will be enforced. This institutional certainty has become one of the DIFC’s most powerful competitive advantages.

For Sri Lanka, the central lesson is that sustainable investment attraction depends not only on incentives and infrastructure but also on the strength of legal, regulatory, and institutional frameworks.

(The author is an Assistant Manager – Tax Advisory at Baker Tilly UAE and holds an LL.B (Honours) from the University of London. She brings extensive cross-border experience in corporate taxation, VAT, and international tax matters. As a part of her role, she provides legal and tax structuring advisory for DIFC and free zone pre establishments. Having previously worked with EY and Baker Tilly in Sri Lanka before serving as a UK Tax Consultant, her background includes legal research and advisory engagements with Barristers and Solicitors of England and Wales. Additionally, she has received training from the American Arbitration Association (AAA) for dispute resolution in international commercial practice)

References

Law, E., DIFC companies – What investors need to know. https://www.lexology.com/library/detail.aspx?g=1c1992dd-8727-4f52-a53b-b980010e6a2c (Accessed: August 15, 2026).

DIFC Legal Database., https://www.difc.com/business/laws-and-regulations/legal-database (Accessed: August 15, 2026).

Major arbitration law reforms poised to reshape DIFC dispute resolution landscape (2026). https://www.pinsentmasons.com/out-law/news/arbitration-law-reforms-reshape-difc-dispute-resolution (Accessed: August 15, 2026).

DIFC Courts | DIFC Courts (no date). https://www.difccourts.ae/about/difc-courts (Accessed: August 15, 2026).

Future Proofing a 21st Century International Court System (2025). https://www.simmons-simmons.com/en/publications/cm96q3q7t00hiupecqeckkq41/future-proofing-a-21st-century-international-court-system (Accessed: August 15, 2026).

EO Sri Lanka officially welcomed the 2026-27 EO year on 1 July 2026 as the chapter ushered in a new era of leadership under President of W. A. Perera and Co. Ltd., (WAPCO) Director Abeetha Perera and his newly appointed Board of Directors.

The ceremonial handover saw the presidency baton passed from of Stafford Motor Company Executive Director Tarindra Kaluperuma, symbolising a seamless transition and the beginning of another exciting chapter for Sri Lanka’s entrepreneurial community.

Having successfully led the chapter through a year Beyond Borders and Beyond Limits, Tarindra Kaluperuma concluded his tenure by entrusting the leadership of the chapter to Abeetha Perera, whose vision for the year is captured in the theme ‘Beyond the Edge’ – an invitation to practice Conscious Leadership and turn it into Transformational Action.

The theme reflects a commitment to developing entrepreneurs who lead with intention, self-awareness, and purpose while inspiring meaningful transformation within their organisations and communities. It challenges members to think beyond conventional boundaries, embrace innovation, and pursue growth with courage, resilience, and authenticity.

Supporting President Abeetha Perera is a dynamic Board of Directors, bringing together accomplished entrepreneurs and business leaders from diverse industries. The Board comprises Asset Engineering Ltd., Managing Director Umayanga Nanayakkara as Forum Chair, Akbar Brothers Exports Ltd., Executive Director Imran Akbarally as Learning Chair, Varna Ltd., Managing Director Chamindra Gamage as Governance Chair, Melwire Lanka Ltd., Director Divek Amrith as Member Engagement Chair, ARRC Capital Ltd., Director Chirath Devasurendra as Marketing and Communications Chair, Finco Holdings Ltd., Director Tarusha Weerasooria as Finance Chair, Raseeka Impex Director Humaid Khalid as Strategic Alliance Chair, Gajma and Co. Principal Losini Gajendran as Membership Chair, Christell Luxury Wellness CEO and Medical Director Shanika Arsecularatne as Women of EO Chair, ZILLIONe Director Sujan Suresh as GSEA Chair, Kala Group Managing Director Shanjeeve Sriskandarajah as Retreat Chair, and A.P.S Knitters Ltd., Managing Director Chathura Samarasinghe as MyEO Chair.

EO Sri Lanka said it continues to serve as a trusted platform where entrepreneurs can openly exchange experiences, gain new perspectives, and build lifelong relationships with fellow business leaders. As the country’s entrepreneurial landscape continues to evolve, the chapter remains dedicated to fostering collaboration, innovation, and continuous learning while equipping members to navigate the opportunities and challenges of modern business.

With President Abeetha Perera and his Board of Directors at the helm, EO Sri Lanka enters the 2026-27 year with renewed purpose and ambition and the chapter looks forward to inspiring entrepreneurs to embrace transformational change, lead consciously, and venture Beyond the Edge-creating stronger leaders, stronger businesses, and a stronger entrepreneurial ecosystem for Sri Lanka.

Tony Ganlath of Ganlath Timber and Transport Services has been elected President of the Sri Lanka-Malaysia Business Council (SLMBC) of the Ceylon Chamber of Commerce for the 2026-2027 term. Malaysian High Commissioner Badli Hisham Adam attended the occasion as the Chief Guest.

The Council’s 32nd Annual General Meeting held recently at the Amari Hotel, Colombo. The AGM marked an important milestone for the SLMBC, with the appointment of a new office-bearer team to lead the Council during the coming year.

Zahrine Hameen of Aitken Spence Travels Ltd. was elected Senior Vice President, while Mohamed Rushdi of MTL Lanka Travels and Logistics Ltd. was appointed Vice President. Wathsala Wijesinghe of International Scholar Educational Services Ltd. will serve as Treasurer. Immediate Past President Marshad Barry of Amana Bank PLC will continue to serve on the committee.

Representatives from a diverse range of companies will also contribute to the Council’s activities. These include Dialog Axiata PLC, Eduko Pathway Ltd., K and D Group of Companies, Mansoor Gems, Mway Ltd., Overseas Cargo Consultants Ltd., Public Bank Berhad, SmashTaps Ltd., SN Travels Ltd. and World Express (CMB) Ltd.

During the AGM, Barry presented the latest SLMBC newsletter and a token of appreciation to Malaysian High Commissioner Badli Hisham Adam.

Kelani Valley Plantations PLC (KVPL) has launched an exclusive collection of single-origin artisanal and specialty teas, each produced from tea grown on an individual estate.

The limited-edition range highlights the distinct characteristics of Ceylon Tea from different growing environments and marks KVPL’s renewed focus on estate-specific, value-added tea production.

Part of the Hayleys Group, KVPL has built the limited-edition portfolio for tea lovers who value rarity and a genuine connection to the estate where each tea originates. Unlike conventional blends that combine teas from multiple growing regions, each tea is sourced from a single estate, preserving the characteristics associated with each growing environment. Factors including elevation, soil composition, rainfall and humidity contribute to the terroir and, in turn, the character of each tea.

The portfolio features Silver Tips, artisanal White Tea, Golden Tips and specialty estate Black Teas. Silver Tips and White Tea are produced from velvet-like buds and are naturally sun-dried, resulting in light infusions with floral notes and a sweet finish. Golden Tips, among the most luxurious teas in the range, undergo a specialized processing method that yields an amber infusion with rich, flavor-packed notes, and are produced in restricted quantities. The specialty estate Black Teas are handcrafted in small batches, with each tea reflecting the characteristics of its source estate.

The quality of the range begins with the selective harvesting of premium tea buds. Skilled workers pluck only the most delicate, nutrient rich buds during the early hours of the day, which ensures only the most suitable buds enter production. The buds are then processed using traditional artisan and orthodox techniques designed to preserve their natural aroma and delicate character. Output is deliberately limited, so that close attention can be paid to every stage.

A KVPL spokesperson said: ‘In a world moving toward mass production, we believe the future of luxury tea lies in going back to what made it extraordinary in the first place, the estate, the soil, the hands that shape it. This is our vision for Ceylon Tea going forward, honoring where each leaf comes from and carrying Sri Lanka’s name forward with it. Value addition is central to this strategy, moving Ceylon Tea beyond bulk exports and into the premium segment where it belongs. We believe this is also the direction the plantation sector must take, building a future where Sri Lankan tea competes on distinction rather than volume alone.’

Cassegrain Wines formally celebrated its entry into the Sri Lankan market at an exclusive event on 19 August 2026 at The Sundowner, Colombo Swimming Club, in the presence of Australian High Commissioner to Sri Lanka Matthew Duckworth.

The launch introduces Sri Lankan guests to a family-owned Australian wine story shaped by French heritage, more than four decades of winemaking in New South Wales, Australia and a longstanding commitment to quality and innovation. Cassegrain Wines thanks Favourite International for stocking the range and for its confidence in bringing the wines to Sri Lankan consumers.

Cassegrain Wines Director/CEO Shiana Tyler said the strong interest received from the Sri Lankan market had made the launch especially encouraging.

‘We are delighted to introduce Cassegrain Wines to Sri Lanka and deeply grateful to Favourite International for believing in our wines and making them available in this market. The interest and warmth we have already received have been incredibly encouraging. Sri Lanka holds a special place in my heart as my parents grew up here and I have visited Sri Lanka many times. We see this launch as the beginning of a meaningful and lasting relationship between Cassegrain and the Sri Lankan market,’ said Shiana Tyler.

Cassegrain Wines Chairman Selva Saverimuttu said the occasion carries particular personal meaning, connecting his Sri Lankan heritage and University of Colombo education with the Australian wine business he now helps lead.

‘As a Sri Lankan and a graduate of the University of Colombo, it is a proud and deeply personal moment to see Cassegrain Wines welcomed into Sri Lanka. This relationship brings together two places that have played an important part in my life. I believe Cassegrain’s combination of family heritage, craftsmanship and modern Australian winemaking will resonate strongly here, and I look forward to building a long-term partnership founded on mutual respect, quality and shared opportunity,’

added Selva Saverimuttu.

Cassegrain Wines is an award-winning, family-founded winery based in Port Macquarie, New South Wales, Australia. Drawing on French winemaking heritage dating back to 1643, Cassegrain combines traditional techniques with modern Australian innovation. Its multi-regional approach sources premium grapes from leading regions across New South Wales, with wines produced, matured and bottled at its integrated winery. The business has operated for more than 40 years and exported internationally for over 35 years.

Favourite International, Sri Lanka, is a specialist importer and distributor of wines, beers, champagnes, liqueurs, selected spirits and unique non alcoholic beverages from around the world. Founded in 1996, today they carry an extensive collection of the most admired global brands.

Supported by extensive industry reach and knowledge and bolstered by decades long relationships with vineyards and brewers, they are the ‘preferred beverage partner’ to multiple outlets across all sectors in the Sri Lankan beverage market.

Park Street Wines, the retail partner of Favourite International, operate two outlets-in Colombo

and Negombo. With a range of products covering every taste and budget, every item is carefully tasted and chosen for sale by in house teams and presented by origin, varietal and price for easy selection.

Sri Lanka needs labour reform. Businesses need room to hire, restructure and sometimes close. Workers need rules that protect them when things go wrong. Getting that balance right matters far more than simply making it easier to hire and fire.

That is why the proposal to use Colombo Port City as a sandbox for labour reform needs caution.

The argument from Port City is clear. Its Director General Revan Wickramasuriya has said rigid hiring and firing rules hold back entrepreneurship and investment, and that the zone could test change before reforms spread elsewhere. Testing before legislating across the country makes sense. But a sandbox must test what happens to workers as carefully as it measures what businesses gain.

Sri Lanka should first ask what labour flexibility means today.

For many people at the lower end of the wage scale, flexibility already exists, mainly for the employer. Casual, temporary and outsourced work can leave people working for years without the security that normally comes with a lasting job. A worker who needs next month’s wage to pay the rent does not bargain on equal terms with the company that pays it.

This matters when collective bargaining has already weakened across much of Sri Lanka’s private sector. Rights may remain in law, but the ability of workers to organise and bargain at the workplace is another matter. Casual and short-term contracts can weaken that power further.

Capitalism did not flourish by giving employers unlimited power. It learnt to survive by placing limits on that power.

Labour movements fought for limits on working hours, wages, workplace protection and collective bargaining. Governments eventually stepped in. Those changes forced businesses to share more of the gains from growth with the people producing them.

America offers a lesson. Labour reform during the New Deal years strengthened workers at a time when economic power had moved heavily towards capital. Business resisted. Capitalism survived. Indeed, rising wages helped workers consume what businesses produced. Labour gained purchasing power and companies gained customers. But the weakening of organised labour in recent decades has reopened the argument over how the gains from growth are divided.

Sri Lanka should therefore resist the easy claim that worker protection and investment sit on opposite sides of the table.

Employers do need room to act. A business cannot guarantee every job forever. Technology changes work. Orders disappear. Companies lose money. Some fail. Keeping people in jobs that no longer produce enough value eventually destroys capital and jobs together.

But making dismissal easier without building protection around workers merely moves the cost of failure downwards.

If Port City tests easier termination, it should also test faster compensation, unemployment support, retraining, portable benefits and quicker dispute settlement. It should track what happens to people after they lose jobs, not merely how quickly companies replace them.

And the results should be published. Did companies hire more? Did wages rise? Did investment grow? How many people lost jobs? How quickly did they find work? Above all, did productivity rise?

That last question should drive the debate.

Sri Lanka does not merely have a labour law problem. It has a productivity problem. Parts of business have long sought tax breaks, protection, cheap finance and Government support while demanding that workers face the market. Parts of organised labour, especially where bargaining power remains strong, have defended jobs and benefits while resisting attempts to link rewards more closely to output.

Neither can demand reform only from the other. Entrepreneurs who expect protection from competition and unions that expect protection from performance are defending the same culture of entitlement.

They are two sides of the same coin.

Intertek Group CEO and ‘Leadership with Soul’ author André Lacroix recently visited two of Sri Lanka’s leading universities to launch the Sinhalese edition of his book.

‘Leadership with Soul’ challenges conventional leadership thinking and invites current and future leaders to stop, reflect and reinvent their approach to become ever-better leaders.

The event marks André Lacroix ‘s first visit to Sri Lanka and a landmark moment for Sri Lanka’s testing, inspection and certification (TIC) industry: Leadership with Soul becomes the first leadership book by a FTSE 100 TIC sector leader to be launched in the country and in Sinhalese.

As Intertek Group CEO, La Croix leads a global Total Quality Assurance business that has been present in the country since 2008 and has since grown to offer its ATIC advantage of Assurance, Testing, Inspection and Certification to customers across Softlines, Cargo, Oil and Gas, Audits and Assurance, and Environmental.

During his visit, La Croix addressed close to 250 students, faculty and senior figures from Sri Lanka’s textile and apparel industry at the University of Moratuwa, the country’s premier technological university and training ground for many senior leaders in its textile sector. He also addressed an audience of 200 students from the Faculty of Management and Finance at the University of Colombo, the country’s oldest and most prestigious public university.

At both universities, La Croix spoke about the ten principles at the heart of Leadership with Soul and answered questions from students. The Sinhalese edition was launched with senior faculty members and industry representatives, and first signed copies of the book were presented to the university libraries.

University of Moratuwa Department of Textile and Apparel Engineering Head and Senior Lecturer Dr. T. S. Jayawardana commended the decision to release a translation of the book: ‘With ‘Leadership with Soul’ in Sinhalese, we open the door for students to connect more deeply with its ideas in a language that feels like home. This is not just a translation, it is a step toward placing Sinhalese confidently alongside global languages on the international stage. The book brings together ten powerful leadership concepts, which can guide the youth of Sri Lanka as they prepare to enter the world of work and look to achieve their full potential.’

University of Colombo Postgraduate Studies Director Professor K. A. S. P. Kaluarachchi further spoke about the value of the book to leadership literature, ‘Leadership with Soul offers practical guidance and insights for developing a leadership style centred on awareness of self and others, compassion, integrity, authenticity, trust and transparency. Faculty of Management and Finance Acting Dean Professor Maduka Udunuwara added: ‘This work is an invaluable addition to leadership literature.’

Speaking about the launch, André Lacroix said: ‘Leadership with Soul is more than a leadership book. It is a guide to building organisations where people, purpose and performance go hand in hand. ‘Drawing on more than three decades of my global leadership experience, it offers practical insights on how to inspire people, create customer-centric organisations, and leave a lasting legacy. Today, we are proud to launch the Sinhalese edition, making these timeless leadership principles accessible to an even wider audience.’

In his book, Lacroix reveals his model for business success, built over more than three decades with world-leading organisations including Ernst and Young, PepsiCo, Burger King, Euro Disney, Inchcape, Reckitt Benckiser and Intertek. He attributes his success to an empathetic, humanist approach to driving sustainable growth and value for all: customers, employees, shareholders, communities and society as a whole.

At first glance, it seems improbable that a company developing advanced military simulation technologies for organisations such as the US Marine Corps, the US Military Academy, the UK Ministry of Defence and armed forces across NATO and Commonwealth countries would have its engineering nerve centre in Colombo. Yet, that is precisely the story of SimCentric! Over the past seventeen years, our venture has evolved into a globally recognised defence technology company, specialising in the development of innovative commercial off-the-shelf (COTS) products that are transforming training and operational effectiveness worldwide, driven from Sri Lanka.

People often ask how we managed to scale from a small engineering team into a business serving some of the world’s most demanding customers. Truth be told, it took years of building capability, refining products, earning trust and delivering consistently. My experience has profoundly shaped the way I think about business growth and economic development. Whether you’re building a company, creating a new industry or positioning a country as an investment destination, the early years are spent establishing foundations that are largely invisible from the outside. Looking back, one of the best decisions we made was choosing to build from Sri Lanka rather than treating it as a temporary base before relocating elsewhere.

Personally, the most important business lesson extends well beyond our own growth. SimCentric’s journey demonstrates that Sri Lanka is not simply capable of supplying talent to the world; it is capable of creating globally competitive intellectual property, pioneering advanced technologies and building businesses that expand internationally.

We recognised early on that the country possessed something far more valuable than a cost advantage. Today, every core product developed by SimCentric is engineered in Port City Colombo. Our software powers training environments used by some of the most sophisticated defence organisations in the world, yet the engineers behind those products are graduates of local universities and schools. This fact should fundamentally change the conversation we have about our country. For a company such as ours, serving defence and technology customers across multiple jurisdictions, the ability to operate within an internationally oriented business environment directly affects how quickly we can hire, contract, transact and expand.

Sri Lanka’s digital economy has reached a defining moment. The Export Development Board now ranks ICT services as the country’s third-largest export sector, comprising more than 400 companies and a workforce of over 140,000 professionals. According to the Sri Lanka Association for Software and Services Companies (SLASSCOM), overall export value of the sector is currently at $2 billion and growing. In my official capacity with SLASSCOM where I regularly engage with founders, technology leaders and international investors, the conversations have evolved noticeably over the past few years. Increasingly, the discussion centres on how we create an environment that allows those companies to innovate faster, commercialise ideas more efficiently and scale globally without relocating elsewhere. And this is where Port City Colombo begins to take on far greater strategic significance than it is given credit for. The next ambition for Port City Colombo should be to create more globally recognised product companies, more research and development centres, and more businesses that own valuable intellectual property rather than simply providing technical services to overseas clients.

Building globally competitive technology businesses

One of the realities of building globally competitive technology businesses is that success increasingly depends on the quality of the environment surrounding the company as much as the quality of the company itself. Talent remains fundamental, but today’s innovation economy also requires rapid access to specialist expertise, sophisticated supply chains, international capital and regulatory certainty. This is where Port City Colombo can provide a springboard.

Too often, it is viewed primarily as a physical development or assessed through short-term investment figures. Instead, I see Port City Colombo as a platform to create an environment where globally connected businesses can operate with greater speed, confidence and flexibility than has traditionally been possible. For companies operating in knowledge-intensive sectors, those advantages are highly practical. The ability to transact freely in major international currencies, attract specialist global talent, operate under internationally familiar regulatory frameworks and access long-term investment with greater certainty all contribute to making Port City Colombo a competitive place from which to build internationally. These are not isolated incentives: together they create an operating environment that aligns with how modern global businesses function.

My involvement with SLASSCOM has reinforced this perspective that, for investors while evaluating fiscal incentives, their decisions are shaped just as strongly by predictability, transparency and confidence. They want assurance that regulatory frameworks will remain stable, that business can be conducted efficiently, and that the country has a long-term vision extending beyond political or economic cycles.

Compared to established financial centres elsewhere in the world, Port City Colombo presents a distinctly different investment proposition. Its greatest strength lies in being an emerging international business destination, offering investors the rare advantage of entering at the ground floor of a purpose-built ecosystem designed for the future. As an entrepreneur, what matters to me is not a long list of incentives. What matters is whether a business can move quickly, hire internationally, transact efficiently and plan with confidence. For global businesses looking beyond mature markets, it offers the potential for higher long-term value creation and the opportunity to shape a new regional financial hub from its inception. Rather than simply participating in an established ecosystem, investors have the chance to help build one.

Developments such as Port City Colombo play an important role in that journey, not because they guarantee success for individual businesses, but because they help create the conditions in which many different businesses can succeed.

If we succeed in creating those conditions, the most enduring legacy of Port City Colombo will be reflected in the companies that choose to build from Sri Lanka, the ideas that are transformed into globally recognised products and the generations of local and global entrepreneurs who see Port City Colombo as the best place in the region to build their future.

Group A table toppers Army SC suffered their first defeat in the Major Club Women’s Limited-over tournament when they lost to Navy SC by seven wickets (DLS method) at Panagoda yesterday.

In a game reduced to 34 overs because of bad weather, Army SC scored 121-5 with Imalka Mendis (39) and Nethmi Senarathna (36*) being the principal scorers. Seamer Sathya Sandeepani picked up 3/12 in 7 overs. Navy SC set a revised target of 96 to chase, got there in the 23rd over scoring 99-3. National cricketer Hasini Perera was instrumental in the run chase scoring 47* off 55 balls (4 fours).

Air Force SC consolidated their position at the top of Group B with a seven-wicket win against SSC at SLLDC grounds, Kirimandala. Sri Lanka’s right-arm fast bowler Malki Madara wrecked the SSC batting for 55 ending with impressive figures of 6/20. Air Force SC knocked off the required runs in 15 overs.

Imesha Dulani missed out on a century by one run (99 off 77 balls, 15 fours) and Sumudu Nisansala contributed a sprightly 77 off 61 balls (10 fours) to help Badureliya SC run up the highest total of the ongoing tournament – 318 at Surrey grounds, Maggona and beat Chilaw Marians CC by a massive 244 runs. Spinners Sanduni Nisansala (3/34) and Wethumya Wijesooriya (4/57) shared the wickets for Chilaw Marians CC. Spin bowling all-rounder Kaveesha Dilhari (4/24) and left-arm seamer Sulesha Sathsarani (4/13) ran through the Chilaw Marians CC batting for 74.

Panadura SC inflicted on CCC their second successive defeat when they won by four wickets at the Panadura esplanade. Half-centuries from Vishmi Gunaratne (64 off 117 balls, 9 fours), Kaushini Nuthyanga (68 off 70 balls, 8 fours) and Australia-based Yashodha Senarathne (51 off 38 balls, 6 fours, 1 six) saw CCC total 237-8. Panadura SC spurred on by national cricketer and their captain Nilakshika Silva’s all-round contribution (3/28 and 58 off 52 balls, 6 fours, 1 six) coasted home with eight balls to spare. 17-year-old Sri Lanka Under19 women’s left-handed opener Vimoksha Balasuriya also contributed to the win with 52 off 74 balls (8 fours). (ST)

The Sri Lankan property market could enter its next major growth phase following the government’s approval to commence the procurement process for the first phase of the Ruwanpura Expressway Project. Phase 1 of the project, which will connect Kahathuduwa to Ingiriya and will include the construction of a new bridge interchange at Kahathuduwa, is expected to significantly improve connectivity between Colombo and Sabaragamuwa Province. While the expressway is primarily a transport infrastructure project, LankaPropertyWeb’s research indicates that it also has the potential to reshape property demand and create new investment opportunities across the proposed corridor.

According to data from the LankaPropertyWeb (LPW) Land Price Index (LPI), Ingiriya and Padukka have already been among Sri Lanka’s strongest-performing land markets over the past several years, even before the construction of the Ruwanpura Expressway. Between 2017 and 2025, the average asking price of land in Ingiriya increased from Rs. 49,363 per perch to Rs. 344,850 per perch, representing an impressive sevenfold increase. During the same period, Padukka recorded a 151.3% increase, while the Colombo District average grew by 66.9% and the Kalutara District average increased by 123%. These figures indicate that Ingiriya and Padukka have consistently outperformed the broader market, demonstrating strong long-term demand.

LPW analysis indicates that approval of the project could further strengthen the upward trend for areas adjoining the Ruwanpura Expressway Route, such as Polgasowita, Gonapola, Horana, and beyond. Improved connectivity has historically been one of the most influential drivers of land value appreciation in Sri Lanka. Easier access to Colombo, reduced travel times, improved logistics, and better connectivity to employment centres, schools, healthcare facilities, and commercial hubs often encourage residential development while attracting developers and long-term investors.

A key reason behind this prediction is the transformation of areas surrounding expressway interchanges, such as Kahathuduwa. Following the development of the Southern Expressway interchange, Kahathuduwa experienced significant growth in residential and commercial activity, resulting in stronger buyer demand and increasing land values. Today, it has become one of the most sought-after suburban locations due to its strategic connectivity. With the proposed Ruwanpura Expressway interchange being built at Kahathuduwa, LPW expects the area’s importance as a transport and investment hub to strengthen even further.

Rather than viewing Kahathuduwa as the primary growth story, LPW anticipates that it will provide a proven example of how major infrastructure projects can transform nearby property markets. Based on the data, LPW forecasts that land for sale in Ingiriya will become the next major beneficiary of improved accessibility. As the endpoint of the first phase of the expressway, Ingiriya is expected to attract increasing demand from homebuyers seeking more affordable alternatives to Colombo, developers looking for emerging residential markets, and investors seeking long-term capital appreciation.

Beyond Ingiriya, LPW also expects increased market activity across Kuruwita, Ratnapura, Pelmadulla, and areas further along the route such as Balangoda, Belihuloya, Bandarawela, Ella and Badulla as future phases of the expressway improve regional connectivity. Historical data also highlights the attractiveness of land as a long-term investment. While the average 12-month fixed deposit rate across six leading Sri Lankan commercial banks currently stands at approximately 9.04% per annum, the long-term appreciation of 598.59% in Ingiriya and 151.24% in Padukka between 2017 and 2025, compared with the 9.04% FD rate, demonstrates the wealth creation potential of strategic land investments in high-growth corridors. Although fixed deposits provide stable and predictable returns, land in emerging locations has the potential to deliver significant capital appreciation over extended investment horizons.

Commenting on the market outlook, Chamara Thewarapperuma, Head of Research and Analytics at LankaPropertyWeb, said the company’s prediction is based on established market trends rather than short-term speculation.

‘Our Land Price Index has consistently identified Ingiriya and Padukka among Sri Lanka’s strongest-performing land markets over the past several years. The approval of the Ruwanpura Expressway is expected to further strengthen these locations by improving accessibility and increasing investor confidence. Kahathuduwa has already demonstrated how expressway connectivity can transform a local property market, and Ingiriya is well positioned to follow a similar growth trajectory. As infrastructure development progresses, we also expect increasing buyer interest to extend towards Kuruwita, Ratnapura, Pelmadulla, and surrounding areas,’ said Thewarapperuma.

Tharindu Jayarathne, Chief Operating Officer of LankaPropertyWeb, noted that the project represents more than a transport improvement-it has the potential to reshape how buyers and investors view the region.

‘Accessibility is one of the most important factors influencing real estate demand. When travel becomes faster and more convenient, locations that were once considered distant become increasingly attractive for residential, commercial, and mixed-use developments. Based on the impact of previous expressway projects in Sri Lanka, we believe the Ruwanpura Expressway could unlock significant opportunities for property owners, developers, and investors along this corridor,’ said Jayarathne.

The company emphasises that this outlook is based on historical market data, previous infrastructure-led development patterns, and the expected impact of improved regional connectivity. While actual market performance will depend on the successful implementation of the project and broader economic conditions, LPW trusts the Ruwanpura Expressway represents one of the most significant opportunities for long-term real estate growth outside Colombo.