The Economy
Sri Lanka export earnings reach USD 10.68 billion with a 7.7 percent growth
According to the Weekly Economic Indicators report from the Central Bank of Sri Lanka
(CBSL), export earnings have risen by 7.7 percent year-on-year, reaching USD 10,676
million during the ten months ending in October 2024.
Link: https://tinyurl.com/m5jyjj5s
Tourist arrivals cross 1.8 million threshold with November boost
Sri Lanka’s tourism sector welcomed over 1.8 million visitors in the first 11 months of
2024, with November alone seeing 184,158 arrivals, marking a 22 percent year-on-year
(YoY) increase.
Link: https://tinyurl.com/bdhywmpy
⚖ Politics & Policy
The Free Trade Zone Manufacturers Association (FTZMA) and the Board of Investment (BOI) discuss trade and investment facilitation
The FTZMA recently met with the new Chairman of BOI to discuss critical measures
needed to enhance investment and trade facilitation in Sri Lanka. The meeting also
addressed current challenges investors face and the necessity of reviewing existing
policies to foster an export-led growth strategy under the NPP Government.
Link: https://tinyurl.com/32sku3aa
Proposal for ‘Clean Sri Lanka’ Fund gets Cabinet approval
The proposal by President Anura Kumara Dissanayake to establish a ‘Clean Sri Lanka’
Fund has received Cabinet approval. Approval was also granted to appoint a Presidential
Task Force for the management of the Fund.
Link: https://tinyurl.com/47ux8nw3
Cabinet grants approval to call fresh nominations for Local Government polls
The Cabinet of Ministers has granted approval to amend the Local Government Act to
allow fresh nominations to be called for the Local Government Election. Accordingly,
the Cabinet approval was granted to cancel the nominations for the Local Government
Election that was scheduled to be held in 2023.
Link: https://tinyurl.com/mrxae7z7
Government Policy Statement passed in Parliament without a vote
The resolution on the Statement of the Government Policy presented by President
Anura Kumara Dissanayake in Parliament on 21 November was unanimously passed in
Parliament on 4 December without a vote.
Link: https://tinyurl.com/mrxmkerd
Government raises monthly allowances for Aswesuma recipients
The Government of Sri Lanka has announced an increase in the monthly allowances
provided under the Aswesuma Welfare benefit scheme. Accordingly, the benefits
provided under the general category for 800,000 recipients have been increased from
LKR 8,500 to LKR 10,000.
Link: https://tinyurl.com/4zxr666z
US Assistant Secretary to visit Sri Lanka this week
US Assistant Secretary of State for the Bureau of South and Central Asian Affairs Donald
Lu will travel to Sri Lanka on 5 December. The visit aims to advance U.S.-Sri Lankan
joint efforts to promote sustainable economic growth, and combat corruption.
Link: https://tinyurl.com/5t2r2ek9
South Gujarat delegation visits Ceylon Chamber of Commerce (CCC) to enhance business partnership
A high-level delegation from the Southern Gujarat Chamber of Commerce and Industry
(SGCCI) recently visited CCC to enhance collaboration and foster stronger trade and
investment ties between India and Sri Lanka.
Link: https://tinyurl.com/599m9awj
Sri Lankan Small and Medium Enterprises (SMEs) feature prominently at China’s premier SME fair
A delegation of 49 Sri Lankan SMEs made a significant impact at the 19th China
International Small and Medium Enterprises Fair (CISMEF), held from 15 to 18 November
at the China Import and Export Fair Complex in Guangzhou. The Sri Lanka Export
Development Board (EDB), in partnership with the Industrial Development Board (IDB)
and with support from the Consulate General of Sri Lanka in Guangzhou, facilitated the
country’s participation.
Link: https://tinyurl.com/4dasxcah
!? What you need to know
Sri Lanka seeks strategic supply chain expansion with Marks and Spencer
Sri Lanka High Commissioner in the United Kingdom, Rohitha Bogollagama, recently
held a meeting with Marks and Spencer (M&S) Chairman Archie Norman. During this
discussion, the High Commissioner urged M&S to consider expanding the supply chain
from Sri Lanka.
Link: https://tinyurl.com/ykb76dx7
Disclaimer – This Advisory is intended for circulation among JAAF stakeholders only.
Please do not circulate or share on social media. This document summarises results
covering significant political and economic events. The Advisory includes economic,
political, social and governance perspectives. It draws on news reports, analyses,
Government announcements and documents, and other sources that we may be in
contact with or have access to.
This Advisory was prepared by the Strategic
Communications Unit of Adfactors PR Lanka. For inquiries, contact
sarah.muiz@adfactorspr.com