Economy

Sri Lanka targets $ 879 m in local investments in 2025

Published

1 year ago

January 16, 2025

Sri Lanka expects about $ 879 million in investments from local investors in 2025 based on government incentives and an improved investment climate in the country, Economic Development Deputy Minister Prof. Anil Jayantha Fernando said.

Speaking in Parliament yesterday (7), he said that the government forecasts $ 879 million from local investors, an assumption based on the current situation and past trends.

He also added that the figure is forecasted based on the incentive packages that the government will provide, improvement in the investment climate and maintaining policy consistency.

Fernando said that the government will provide a conducive environment for local investors where they can have a level playing field with improved ease of doing business.

Moreover, he said that forecasts for foreign direct investments (FDIs) are also made based on the assumptions made for local investors.

However, Fernando said that the government is trying to move away from these assumptions as they have not been able to attract sufficient FDIs in the past based on these assumptions.

“We are trying our maximum to get at least $ 2 billion in FDIs annually, while priority will be given to investments to bring in new technology and capital requirements,” he added.

According to a response tabled at parliament by Finance and Planning Deputy Minister Harshana Suriyapperuma in December, the Board of Investment (BOI) has signed 74 projects in 2024, with an estimated investment of $ 608 million.

The statement said that the BOI signed 41 new projects and 33 project extensions between January and December 2024, the estimated total investment in the 74 projects is $ 608 million, which is only a mere $ 110 million growth in the second half of the year after recording $ 498 million investments in the first half.

Source – The Morning

Economy

Galle ranks fifth among top 10 honeymoon destinations for 2026

Published

6 days ago

January 20, 2026

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Galle has been placed fifth among the world’s top 10 honeymoon destinations for 2026 in the latest rankings released by Tripadvisor.

The ranking forms part of Tripadvisor’s Travelers’ Choice Awards Best of the Best 2026 and is based solely on the volume and quality of traveller reviews submitted over a 12-month period.

Tripadvisor said the list reflects destinations that consistently received strong feedback from honeymoon travellers worldwide.

Beach and island destinations dominate the upper end of the 2026 rankings. Bali secured the top position, followed by Mauritius and the Maldives, with St. Lucia ranked fourth. Galle placed fifth, ahead of several established long-haul honeymoon favourites.

Tripadvisor noted that Galle’s appeal lies in its blend of heritage and coastal experiences. Founded by the Portuguese in the 16th century, Galle Fort remains a key attraction, with preserved ramparts, historic buildings, and walkable streets.

Economy

Sri Lanka Postal Service achieves record revenue

Published

2 weeks ago

January 12, 2026

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Sri Lanka’s postal service has recorded a remarkable turnaround in 2025, surpassing revenue targets set by the Treasury and signalling a major revival after years of stagnation.

Postmaster General Ruwan Sathkumara said the Department of Posts generated Rs. 13.1 billion last year, exceeding the revenue target assigned for 2025.

He highlighted that the past year also saw wide-ranging reforms, including large-scale recruitments, confirmations of long-serving staff, infrastructure upgrades, and investments in technology and transport to improve efficiency and service delivery.

According to Sathkumara, 378 Sub-Postmasters received permanent appointments in June 2025—the first confirmations for the category since 2020. In September, the appointments of 1,000 Postal Assistants were regularised, marking the first such confirmations since 2022.

The Postmaster General added that recruitment is underway to hire 600 Postal Service Officers through open competition, with appointments expected in February 2026.

Economy

Sri Lanka ranked most affordable place to live or retire in 2026

Published

2 weeks ago

January 11, 2026

admin

International Living magazine has identified the five most affordable places to live or retire in 2026, which scored the highest in the cost-of-living category of its 2026 Global Retirement Index.

It evaluated retirement destinations across climate, healthcare, visa and lifestyle, along with cost.

Sri Lanka ranked top of the list due to affordable local transportation and easy-to-obtain retirement visas. A couple can live extravagantly on $2,200 (£1,637) a month, or on $1,000 (£744) with some budgeting.

In second place is Vietnam, with the average cost of living in Hanoi sitting at under $1,800 (£1,339) per month. Rent is low and healthcare is affordable.

Thailand was ranked third, because a couple can live comfortably for around $2,000 (£1,488) a month in cities such as Chiang Mai or coastal towns such as Hua Hin. These both have affordable housing, and accessible services and transportation.

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