News & market updates

Sri Lanka launched the National Export Development Plan (NEDP) 2026–2030 targeting USD 36 billion in export revenue by 2030. The plan sets six cross-sector enablers and eight priority sectors — including auto components, minerals, rubber, marine, spices, digital products, electrical/electronics and processed food — to drive export diversification.

The Ministry of Digital Economy and the Securities and Exchange Commission held a joint awareness session on June 15, 2026 to advance regulation of virtual assets, addressing domestic P2P/offshore risks, global regulatory precedents, and KYC/AML, transaction monitoring and blockchain traceability.

Alumex PLC has installed a new 20 MN, 7-inch aluminium extrusion line at its Sapugaskanda plant, expected to exceed 1,000 kg/hour and monthly output over 2,000 tonnes. The Industry 4.0 line includes AI/IoT production controls and is projected to cut energy use 30–40%, boosting yield and export capability.

Sri Lanka held a Dubai investor forum on June 11 to pitch Port City Colombo as a Special Economic Zone and court Gulf capital to attract FDI into finance, technology, logistics, property and services across South Asia.

Sri Lanka's services PMI rose to 56.9 in May 2026 from 46.7 in April, signalling a rebound led by financial, professional and other personal services, with real estate, IT programming and goods transportation also recording growth; employment declined further.

Digital Economy Ministry and the SEC held a high-level awareness session on virtual assets to advance regulatory alignment and investor protection, covering P2P/offshore risks, KYC/AML, blockchain tracing and international regulatory models. Attendees included SEC, CSE, Central Bank FIU and other stakeholders.

Sri Lanka's Ministry of Digital Economy and the Securities and Exchange Commission have launched a joint initiative to explore and regulate virtual assets and develop a formal regulatory roadmap. The outreach session—which included the Central Bank and Colombo Stock Exchange—covered uses like ETFs, cross-border payments, tokenization and AML/CFT risks.

ORIN Corporation has been appointed Saviynt's exclusive distributor in Sri Lanka, bringing Saviynt’s identity security and governance platform to local enterprises and channel partners to strengthen identity security, governance and digital trust.

Volt Charge, part of JAT Holdings PLC, is now Sri Lanka's largest EV charging network with over 80 DC fast chargers and a public network spanning 100+ sites. The network also includes 20 public AC and 3,000+ home chargers, records 18,000+ monthly sessions (~100 MWh/month) and has seen Rs.250 million invested to date.

DMS Software Technologies launched the DMS IBM Cloudability Managed Service Provider (MSP) Program in Sri Lanka on June 10, 2026, to help enterprises adopt FinOps and optimize cloud spending.

Commercial Bank (COMB.N0000) now lets Premium/Platinum credit and Elite debit cardholders convert Max Loyalty Rewards points into airline miles with SriLankan Airlines and other carriers at a promotional rate of 6 points = 1 FlySmiLes mile through 31 Dec 2026, via its existing digital platform.

SLIIT and Japanese collaborators published a Scientific Reports study applying explainable AI to intentional injury mortality across 25 countries in the Americas (2000–2019), finding long-term structural conditions drive suicide and homicide rates. The paper used SHAP analysis to interpret key socioeconomic and governance drivers for policy-relevant public health surveillance.

SLID launched the Public Sector Forum to strengthen governance, accountability and board leadership across Sri Lanka's state-owned enterprises. The inaugural webinar brought directors, regulators and governance experts together to discuss audit committees, internal controls, procurement, ESG and digital/cyber governance.

Kayden Cares Framework calls for national action after a fatal fire at an overcrowded, unregistered elderly care home in Horana. It aims to develop care standards, training, quality assurance and digital tools and is inviting care providers and partners to join its national platform.

SLID launched a Public Sector Forum, chaired by Arjuna Herath, to strengthen governance, accountability and board leadership across Sri Lanka’s State-Owned Enterprises; the inaugural webinar with AICPA & CIMA Sri Lanka focused on audit committees, internal audit, procurement, digital governance and ESG oversight.

Shehara De Silva represented Sri Lanka in the EY Entrepreneurial Winning Women Class of 2026 at the Asia‑Pacific conference in Seoul (18–20 May), joining over 100 participants and 23 selected entrepreneurs; she is Managing Director of the McLarens Group. The three‑day event included sessions on AI transformation, global expansion and capital-raising.

XpressJobs won Best Tech Recruitment Platform in the Auto Innovation & Technology category at the Automobile Industry Awards 2026. The company has pioneered CV-less application technology and an AI-powered WhatsApp Recruitment Assistant to improve access to skilled automotive workers.

SLASSCOM and BeyondOne launched a national virtual Internship Platform on 15 May to provide structured, project-based virtual internships that bridge academia and industry and support Sri Lanka's IT/BPM talent pipeline; multiple IT firms and universities are piloting the initiative.

Union Bank launched the third phase of its National Entrepreneurship Development Program in 2024, kicking off with over 200 existing and potential business owners. The free program, run with the University of Moratuwa and the National Innovation Agency, aims to upskill SME owners and support startup development.

Amana Bank opened its 46th Self Banking Centre in Balangoda — its first in Ratnapura District — offering 24/7 cash withdrawal, cash deposit and cheque deposit services. The bank also distributed school stationery to underprivileged primary schools as part of the opening.

Kapruka Holdings PLC (KPHL) has launched a public Model Context Protocol (MCP) server, making its product catalogue, delivery and checkout accessible to AI assistants. The company also launched the Kapruka Agent Challenge inviting developers to build shopping agents on the platform.

Banking leaders, including HNB and Commercial Bank executives, called for stronger governance, internal controls, cyber resilience and responsible AI use to future-proof Sri Lanka's banking sector at a Daily FT-ACCA-ICCSL webinar.

Sri Lanka GDP grew 5.1% year-on-year in Q1 2026, up from 4.7% in the previous quarter. Growth was led by industry (up 7.2%) with mining +19.5% and construction +16.3%, while services rose 3.4% driven by insurance (+22%), IT/BPM (+16.1%) and financial services (+12.8%); agriculture +1.1%.

Sri Lanka has spent 17.4% of its 2026 capital budget, about Rs.240 billion of Rs.1,380 billion, the National Budget Department director told Parliament; officials said some capital expenses will remain unspent and that Rs.20 billion cited was a reallocation after a fuel price hike.

Sri Lanka's real GDP grew 5.1% year-on-year in Q1 2026 to Rs. 3,652,503 million (2015 prices). Growth was led by industry (+7.2%)—notably construction (+16.3%) and mining (+19.5%)—while services rose 3.4% (insurance, IT, financial services) and agriculture grew 1.1%.

Dialog Axiata PLC's market capitalization exceeded Rs. 400 billion, peaking above Rs. 420 billion on June 15 as its share price traded between Rs. 44.90 and Rs. 46.40.

Parliament’s Committee on Public Finance flagged weaknesses in Sri Lanka’s external sector statistics, saying tourism earnings are hard to measure and that informal forex flows and unauthorised foreign payment gateways are blind spots. CBSL said premiums have narrowed, invited money-transfer operators to register and said investigations into illegal payment gateway use are under way.

Huawei unveiled a grid-interactive AIDC strategy at the 2026 Global AIDC Industry Summit in Dongguan, promoting '3+1' innovations to build grid-friendly, energy-efficient, high-density AI data centers that maximize tokens per watt and emphasize renewable integration and liquid cooling.

The Sri Lanka–Thailand Business Council marks its 25th anniversary with a celebration on 19 June at the Kingsbury Hotel and a 25-member delegation from the Board of Trade Thailand in attendance. The council highlights opportunities for trade and investment across tourism, IT/digital, renewable energy and healthcare.

The Sri Lanka Business Council UAE held a 35th-anniversary investment forum in Dubai on 11 June that drew 225 UAE business leaders and investors. Colombo Port City presented investment opportunities and speakers encouraged investment in tourism, hospitality, IT, logistics, manufacturing and renewable energy in Sri Lanka.