Economy

Sri Lanka Emerges on Global Supply Chain Radar in White House Report

Published

16 hours ago

August 18, 2026

Sri Lanka has been named in a report released by the White House Office of Trade and Manufacturing Policy examining changes in global trade flows following the introduction of US tariffs on Chinese goods.

The report, titled The Great Transshipment Scam, argues that the restructuring of global supply chains since 2018 has enabled goods originating from higher-tariff jurisdictions, particularly China, to reach the US market through intermediary countries.

According to the report, Sri Lanka is among more than 40 countries identified as having become part of a broader network of manufacturing, logistics and trade hubs that have gained importance as companies diversify production and distribution channels in response to changing trade policies.

The document places Sri Lanka in a category it refers to as “Tier 3” economies, which includes smaller countries that offer advantages such as strategic geographic locations, logistics infrastructure, warehousing facilities, free trade zones, competitive labour costs and access to international markets.

Economy

‘Now Is the Time to Invest in Sri Lanka’ – CBSL Governor

Published

1 day ago

August 18, 2026

admin

Central Bank Governor Dr. Nandalal Weerasinghe has expressed confidence in Sri Lanka’s economic outlook, stating that the country is on a steady recovery path and presents attractive opportunities for investors despite ongoing global economic uncertainties and energy market volatility.

Speaking to Bloomberg on the sidelines of the Invest Sri Lanka events held in Sydney and Melbourne, Australia, Dr. Weerasinghe said the economy has recovered strongly following the country’s economic crisis and is currently recording growth of around five percent.

He noted that Sri Lanka has successfully navigated several external shocks, including tensions in the Middle East and adverse weather conditions caused by cyclonic activity, while maintaining economic stability.

According to the Governor, the economy is now moving towards a higher growth trajectory, creating favorable conditions for both local and foreign investors.

Economy

Rs. 2.5 Billion Revenue-Generating Development Projects To Commence

Published

3 days ago

August 16, 2026

admin

A series of Revenue-Generating Development projects worth Rs. 2.5 billion will commence across the island from today (14), under the direction of the Ministry of Public Administration, Provincial Councils and Local Government.

The main objective of the programme is to strengthen the local economy and social conditions.

The project will be implemented under the ‘Punarudaya Purawara’ national program in Sri Lanka.

Accordingly, the first programme will be held today in the Madurankuliya, Puttalam and the Agunukolapelessa area, under the patronage of the Minister and Deputy Minister of Public Administration, Provincial Councils and Local Government.

More than 100 projects covering several sectors are to be included in the programme.

Economy

CPC Seeks Investors As Natural Gas Confirmed in Mannar Basin

Published

6 days ago

August 13, 2026

admin

The Ceylon Petroleum Corporation says the process of calling for proposals to select an appropriate investor to extract and utilize the natural gas resources in the Mannar Basin will begin this month.

Managing Director of CPC, Dr. Mayura Neththikumara, said the presence of natural gas in the Mannar Basin has been scientifically confirmed by the Sri Lanka Petroleum Development Authority.

The relevant process will be carried out with the approval of the Procurement Committee, and investors will be given approximately five months to submit their applications.