President urges investors to back Sri Lanka with confidence

Sri Lanka President Anura Kumara Dissanayake has urged local and foreign businesses to invest in Sri Lanka with confidence, promising transparent governance, stronger laws and improved infrastructure.

The President made the remarks at the Sri Lanka Economic and Investment Summit 2026, organised by the Ceylon Chamber of Commerce at the Shangri-La Hotel in Colombo on October 12, 2026.

The two-day summit, which concludes today (October 13), is being held under the theme “Positioning Sri Lanka in a Changing Global Economy: Resilience, Reform and the Future of Economic Policy”.

During a discussion with business leaders and investors, the President outlined several government plans to strengthen the economy, attract investment and create new business opportunities.

He said legislation relating to state-owned enterprises would be submitted to the Cabinet within two weeks, while proposed laws on public-private partnerships, labour and customs were also being prepared. The Government expects to secure parliamentary approval for these laws in January or February 2027.

The President also announced plans to simplify government procurement procedures and introduce electronic procurement to speed up investment projects and public spending.

He said the forthcoming Budget would include Rs. 2 trillion in capital expenditure, while steps were being taken to improve the implementation of development projects.

Addressing rural poverty, the President said the Government had already provided nearly Rs. 18 billion in collateral-free loans to support rural entrepreneurs. He also highlighted nearly Rs. 100 billion allocated for rural development, including irrigation, roads and community development programmes.

In the energy sector, the Government plans to encourage private investment in electricity transmission infrastructure, with four transmission lines already identified for development.

The President said competitive bidding would be used to reduce electricity generation costs, while further investments were planned in solar power, floating solar projects and battery storage systems.

He said tenders had already been called for 160 megawatts and a further 250 megawatts of battery storage capacity, with plans to invite bids for another 150 megawatts.

Regarding port development, the President said the Government had decided to retain ownership of the East Container Terminal while establishing a company to manage its operations with private-sector investment.

He also outlined plans to develop the second phase of the West Container Terminal and expand port-related logistics facilities.

On tourism, the President said promotional activities had already begun in five countries, while tenders for a larger international tourism promotion campaign were expected to be called in January.

He also revealed plans to establish an artificial intelligence (AI) centre in Wijerama in collaboration with Singapore, alongside efforts to improve technology skills and create more employment opportunities.

Addressing fuel prices, the President said the Government was providing a subsidy of Rs. 70 per litre of diesel for October, November and December at an estimated cost of Rs. 41 billion. He said steps would be taken to develop a system to provide future subsidies directly to those who need them.

Regarding Sri Lanka’s relationship with the International Monetary Fund (IMF), the President said the Government was prepared to consider a new programme if it supported economic growth while maintaining the stability already achieved.

He said discussions were taking place among economic experts, Finance Ministry officials and the Central Bank Governor to determine the most suitable approach.

In his final message to investors, President Dissanayake said the Government was committed to providing the legal protection, transparency and infrastructure necessary to support investment.

He also said the Government was prepared to offer concessions relating to land and certain services for investments in rural areas.

“I urge all of you to invest without fear. We will provide the protection and confidence necessary for you to do so,” the President said.