Thursday Oct 02, 2025
Thursday Oct 02, 2025
Thursday, 2 October 2025 00:26 - - {{hitsCtrl.values.hits}}
Ceylon Chamber of Commerce Chairman Krishan Balendra at the Sri Lanka Business Forum in Tokyo earlier this week
By Nisthar Cassim in Tokyo
Ceylon Chamber of Commerce Chairman Krishan Balendra this week told Japanese investors that Sri Lanka is seeing economic revival and it is the right moment to be part of shaping the South Asian hub’s next growth chapter.
He made this observation at the Sri Lanka Business Forum in Tokyo as part of a public-private sector initiative to woo Japanese investor interest in tandem with President Anura Kumara Disanayake’s State visit.
“Sri Lanka is on a clear path of economic revival. After a period of great difficulty, we are seeing steady and broad-based growth, with renewed momentum in exports, tourism, remittances, and investment. Fiscal consolidation, completion of debt restructuring, inflation control, and macroeconomic reforms have helped lay the groundwork for rebuilding confidence,” said Balendra who led a 20-member delegation organised by the Sri Lanka Japan Business Council )SLJBC) under the aegis of the Ceylon Chamber.
“The former IMF First Deputy Managing Director Gita Gopinath recently labelled Sri Lanka’s recovery as a stand out experience and remarkable progress within a short-term period of time. The World Bank in their latest Sri Lanka Public Finance Review stated that the scale and speed of the fiscal adjustment standout by historical and international standards. We are seeing this on the ground with economic activity at around 5% GDP,” Balendra said.
“For investors, this means Sri Lanka is once again open and ready for business,” he added at the seminar attended by President Disanayake and Japanese Economy, Trade and Industry State Minister Dr. Ogushi Masaki.
The well-attended forum was organised by the JETRO, Ministry of Economy, Trade and Industry (METI), Sri Lanka Embassy in Japan, the Japan-Sri Lanka Business Cooperation Committee, and the Board of Investment (BOI). It was supported by the Japan International Cooperation Agency (JICA).
Balendra also said Sri Lanka’s strategic location at the crossroads of the Indian Ocean, just a short distance from India, makes it an ideal gateway to South Asia and beyond.
“Sri Lanka is uniquely positioned to leverage India’s rapid growth from the Colombo Port already handling the bulk of India’s transshipment cargo, to opportunities in tourism, where India is our largest and fastest-growing source market, and in exports, where regional supply chains can be deepened and diversified,” Balendra pointed out.
Critically, Sri Lanka can leverage formal market access through the existing FTAs with India, South Asia, Singapore, Thailand (signed in 2024 and moving toward implementation). On top of that, exporters benefit from EU GSP+ preferences and the UK’s Developing Countries Trading Scheme (DCTS), widening duty-free or reduced-tariff entry. Taken together, these agreements provide preferential access to 2.5 billion consumers across India, Pakistan, Singapore, Thailand, the EU-27 and the UK. Combined with an increasingly stable policy environment, Sri Lanka offers Japanese companies a reliable and strategically connected partner in the region.
Japanese businesses were told that despite being a small island nation, Sri Lanka has carved out a reputation in several high-value industries. It is a hub for high-tech apparel manufacturing, supplying leading global brands with innovative, ethically produced garments. The country is world-renowned for its Ceylon Tea, while also rapidly gaining recognition as the world’s leading source of Ceylon Cinnamon. At the same time, Sri Lanka’s services sector is advancing rapidly, with IT and BPM services emerging as a key growth driver, supported by a skilled, English-speaking workforce that serves clients across North America, Europe, and Asia.
Balendra acknowledged that several Japanese businesses have already built a strong presence in Sri Lanka, particularly in sectors such as manufacturing, automobiles, electronics, infrastructure, and trading. Their long-standing contributions have created jobs, technology transfer, and enduring partnerships.
“Looking ahead, opportunities exist to deepen this engagement in apparel, agri-exports, renewable energy, logistics, and IT services, where Sri Lanka’s strengths align with Japan’s expertise and global networks. Together, these sectors highlight how Sri Lanka offers not just resilience, but also a diverse platform,” Balendra said.
Balendra observed that discussions and exchanges in Tokyo have reinforced the strong foundations on which partnership rests, and more importantly, the opportunities that lie ahead.
He said that the Ceylon Chamber of Commerce remains committed to fostering meaningful engagement between the two business communities and invited Japanese companies to attend the Ceylon Chamber organised Sri Lanka Economic and Investment Summit from 2 to 3 December.
“As Sri Lanka moves from a period of stability to a phase of sustained and accelerated growth, this Summit will be the premier platform to engage with that journey. It will deepen today’s dialogue, explore sector-specific opportunities, and connect with a wide spectrum of Sri Lankan and international business leaders. We believe this is the right moment for Japanese investors to be part of shaping Sri Lanka’s next growth chapter,” Balendra emphasised.
The forum in Tokyo was the final event under the public-private sector joint initiative to boost greater economic and business cooperation between Sri Lanka and Japan, buttressing the State visit by President Disanayake. Prior to Tokyo, a similar business forum was held in Osaka apart from President Disanayake officiating at the Sri Lanka Day at Expo 2025 in Osaka.
The private sector delegation with over 20 personnel/companies has interests in manufacturing, exports, services, tourism, logistics, and IT. The delegation included SLJBC Vice President and Spear International Ltd., Chairman and Managing Director Shamil Mendis; SLJBC Treasurer and MendisOne Chairman Rohitha Mendis; SLJBC Immediate Past President and Andrew the Travel Company Managing Director Mahen Kariyawasan; BOV Capital Managing Partner Prajeeth Balasubramaniam; Celestia International CEO Chandana Silva; Connaissance De Ceylan CEO Chamin Wickramasinghe; EW Information Systems Chairman Sanjeewa Wickramanayake; Hayleys PLC Director Sarath Ganegoda; hSenid Group Chairman Dinesh Saparamadu; Lanka Harness Executive President Rohan Pallewatta; MAC Holdings Chairman and President Otani San; MAC Holdings Managing Director Andre Fernando; MendisOne Managing Director Rishantha Mendis; Microsoft Sri Lanka and Maldives Country Manager Harsha Randeny; Tomo Wold Ceylon Chairman Nishantha Perera; Adamjee Lukmanjee and Sons Business Partner – Exports Hashini Kalansuriya; Jayalanka Suppliers Managing Director Ganidhu Ishara; Transfood Lanka Director Sajahan Pasie, NCINGA Group Managing Director Vajira Wijesinghe, and The CCC Assistant Secretary General Dinithi Dias.
