“AmCham, U.S. businesses play pivotal role in driving growth”
The U.S. remains focused on fostering an environment of good governance and anti-corruption measures, which are vital for creating a thriving, business-friendly atmosphere in Sri Lanka, opined US Ambassador to Sri Lanka Julie Chung at the ‘Elevate Sri Lanka: AmCham SL CEO Forum 2025’ in Colombo yesterday.
“U.S. initiatives are vital in connecting Sri Lanka to the global community, with AmCham and U.S. businesses playing a pivotal role in driving growth, spurring innovation, and creating shared opportunities that benefit both nations.”
She emphasized the significance of the U.S. as Sri Lanka’s largest export market and the role of American businesses in strengthening bilateral ties. Meanwhile, former Ambassador to USA and Executive Director, Lakshman Kadirgamar Institute, Ravinatha Aryasinha said that with the change of government and political stability Sri Lanka has now received a golden opportunity to rebuild on this and woo more FDI to Sri Lanka.
He also said that irrespective of who built pror city the facility should be used for investments and the US companies along with more Sri Lanka entrepreneurs should look at it. Aryasinha also said that it is high time that Sri Lanka exporters should try to introduce new products to the country’s export baskets.
“I was in the USA for many years and during all these years apparel remains as the number one export item from Sri Lanka ten and even now.”
He also blamed the exporters of not taking full advantage of various concessions such as GSP Plus which was only used around 60%. Sulaiman Nishtar from Ernst & Young said that Sri Lanka must up their exports as the country got around USD 1 billion for 2024 whereas Bangladesh attracted USD 4.7 billion and Vietnam USD 7 billion.
He urged a bigger digital push for the country which will create more transparency and reduce corruption which drives away investors.
The forum featured three dynamic panel discussions covering geopolitics, digital innovation, access to finance, and private-sector opportunities. Secretary, Joint Apparel Association Forum, Yohan Lawrence said that it was clear cut policy in the early 1990’s that helped to create the apparel export market and the country needs strong policy implementation like that era.
He also said that due to the size of the country of Sri Lanka it would be a very tall order to double the current average annual income of around USD 5 billion to 10 billion. AmCham SL President Shirendra Lawrence said, “Events like these enable Sri Lankan businesses to unlock new opportunities, gain global perspectives, and drive economic transformation.”
The final session highlighted key programs and grants available through USAID, the Asian Development Bank, and the Select USA Program.
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