President pushes faster company registration, export market access

President Anura Kumara Dissanayake 

• Orders clearance of around 3,000 pending company registration applications
• Calls for legal reforms to address Registrar of Companies constraints
• Wants Commercial Officers focused on new markets and higher exports
• Urges closer engagement with chambers on market intelligence

President Anura Kumara Dissanayake has ordered officials to expedite around 3,000 pending company registration applications and called for a stronger push to open international markets for Sri Lankan businesses, as the Government reviewed business facilitation, trade, and market interventions ahead of the Budget 2027.

At a recent 2027 pre-Budget discussion of the Trade, Commerce, Food Security and Co-operative Development Ministry, the President reviewed the operations of the Registrar of Companies, where the backlog in company registrations was highlighted, the President’s Office said.

He instructed officials to expedite processing of the approximately 3,000 pending applications to eliminate registration delays.

Finance, Planning and Economic Development Ministry Secretary Dr. Harshana Suriyapperuma also instructed officials to submit proposals to resolve constraints affecting the Registrar of Companies and identify the legal reforms required.

The President separately put international market access at the centre of the Department of Commerce’s mandate, saying Sri Lanka’s pursuit of its economic targets required a stronger focus on finding new markets and expanding exports.

He said Commercial Officers should focus on identifying new international markets and increasing export targets, backed by market research and closer engagement with Chambers of Commerce to obtain and disseminate market intelligence.

The President called for proactive intervention by the Department of Commerce to expand Sri Lankan business into emerging and growing markets. Representatives from 33 countries were involved in the Department’s activities through their respective embassies and high commissions, the meeting was told.

The discussion also signalled a stronger Government role in domestic market competition and price formation.

President Dissanayake said Sri Lanka’s relatively small market meant prices of goods and services could not be expected to be regulated solely through market competition and called for a stronger price regulation mechanism.

He said Lanka Sathosa and the co-operative movement should be strengthened as market participants to promote competition and improve consumer services.

Around 2,100 co-operative outlets, including Co-op City and Co-op Mega City outlets, currently operate across the country. Discussions focused on expanding their market share and addressing constraints facing the sector, while legislation is being drafted to address management deficiencies in co-operatives.

The Government is also moving ahead with investments in agricultural processing and distribution infrastructure.

A project to establish nine wholesale distribution centres, covering all nine provinces, is under implementation, with centres in Kurunegala and Matara already completed.

The President reviewed a Rs. 1 billion project under the 2026 Budget to establish rural rice processing centres, along with the Nuwara Eliya potato purchasing centre and a grain legume processing centre in Monaragala.

A concessionary program to provide mechanical dryers for paddy and other grains is also underway. The Government has arranged to import 45 dryers for distribution to 45 institutions selected from 65 applicants.

The President called for new support programs for big onion and maize farmers, while 34 new Production Co-operative Societies targeting greater youth participation have already been registered.

The meeting also reviewed Sri Lanka Thriposha Ltd., for which Rs. 5 billion was allocated under the 2026 Budget. The President’s Office said operations were continuing around the clock, while arrangements were being made to distribute Thriposha through all Medical Officer of Health offices.

Officials also discussed sourcing of raw materials, storage, and procurement, while the company has obtained internationally recognised ISO certification covering food safety and quality.

The review covered the performance of 16 departments, self-financing entities, and Treasury-funded institutions under the Ministry, as well as Consumer Affairs Authority operations, warehouse investments, laboratory accreditation, and proposed economic centres in Bandarawela and Matale.