Overview of the Sri Lankan economy and its projects

The economy

With an economy worth USD 80.591 billion (2015) (USD278.415 billion (2017)PPP estimate), and a per capita GDP of about USD11,068.996 (PPP), Sri Lanka has mostly had strong growth rates in recent years, according the IMF. The Sri Lankan economy has seen robust annual growth at 6.4 per cent over the course of 2003 to 2012.

GDP grew by 3.8% in the first quarter of 2017 and 4.0% in the second to hold growth in the first half of 2017 to 3.9% year-on-year, unchanged from the 2016 outcome, according to the Asian Development Bank.

The election of a new president in January 2015, Maithripala Sirisena, and the cessation of hostilities in May 2009, have placed the country on a platform of a massive development drive. It aims to catch up for the 26 years of ethnic hostilities, by developing infrastructure and other opportunities.

Consequently, the Sri Lanka government is seeking investment across all industries, to boost development and to gain expertise. The key areas for which it is seeking investors, principally as equity partners with government guarantees, are listed below.

The projects

  • Transport (includes railways; rapid transit system, maritime, ports, airport and logistics) energy and water.
  • -Power and energy (includes solar).
  • Housing (includes affordable housing, luxury housing, and apartments), and the upgrading of townships.
  • Environment and waste management. This includes solid waste, sewerage and natural environment improvements.
  • The aero maritime
    • Trade hub; port and airport and logistics.

Coastal and marine and development of industrial and tourist cities-Meerigama, Horana, Negombo, Alguthuma.

Establishment of industrial centres and development of training and service centres; promote value add and agriculture-based industries.

  • Tourism- infrastructure and hotels.
  • Science and technology city.
  • Eco habitat and plantation city.
  • Tranquility- the spiritual development facilitation.
  • Hospitals.

For more information on any of these projects please contact:

A presentation with more details is available for download; Western Region Megapolis Planning Project