Krishan Balendra Urges Unified Recovery at Sri Lanka Economic & Investment Summit 2025

The Ceylon Chamber of Commerce (CCC) today (02) kicked off the Sri Lanka Economic & Investment Summit 2025 at the Shangri-La Colombo with a strong call for unity, resilience, and renewed economic ambition. Delivering the keynote welcome, Chairperson Krishan Balendra said the Summit—held amid the national aftermath of Cyclone Ditwah—carries “greater meaning,” serving not only as a platform for economic and investment dialogue but also as a collective commitment to rebuilding communities and strengthening national resilience.

Balendra announced that all funds originally set aside for social activities at the Summit will be redirected toward immediate relief efforts, emphasising the private sector’s crucial role in supporting recovery. Addressing over 800 participants, including more than 100 foreign investors, he outlined Sri Lanka’s steady progress on economic stabilisation, reform, and renewed investor confidence, noting that growth is now approaching 5% of GDP.

Below is the full text of his speech delivered at the opening session:

FULL SPEECH: Chairperson of The Ceylon Chamber of Commerce, Mr. Krishan Balendra

Sri Lanka Economic & Investment Summit 2025 – Shangri-La Colombo

It is my great pleasure to warmly welcome you to the flagship event of the Ceylon Chamber of Commerce -  the Sri Lanka Economic & Investment Summit.

Ladies and gentlemen, before we begin today’s proceedings, it is important that we pause to acknowledge the grave impact of Cyclone Ditwah, which has brought immense devastation across several parts of our country over the past days. We mourn the tragic loss of lives, and we stand with the thousands of families who have been displaced from their homes and whose livelihoods have been disrupted. Our thoughts and prayers are with the victims, their loved ones, and all those who are still recovering from the aftermath of this disaster.

In the wake of this national crisis, the Chamber together with the generous support of our members have been working closely with Government agencies to coordinate urgent relief efforts. The unwavering resilience of Sri Lankans is evident in moments such as these. It is a pivotal time for the nation to come together, pooling our collective strength to restore lives, livelihoods, and stability.

The Sri Lanka Economic and Investment Summit was originally designed as a platform to advance economic growth and investment. In light of the recent disaster and the need to rebuild, the Board of the Chamber was of the view it was necessary in moving ahead with the summit but with even greater meaning. The summit now serves as an essential forum to collectively reflect on the road to recovery, discuss strategies to strengthen national resilience, and reaffirm our shared commitment to rebuilding a stronger and more stable Sri Lanka. Our priority is to support the country’s recovery and the restoration of communities and livelihoods. The private sector has a critical role to play in this effort, and we remain steadfast in mobilizing our networks and resources to contribute meaningfully to long-term resilience and sustainable development.

We will donate all funds originally allocated for social activities in the summit to support relief efforts. We believe that continuing with the summit in this revised format is essential to fostering the collaboration, investment, and policy dialogue needed to drive an effective and inclusive recovery.

This Summit is one of the most anticipated events on Sri Lanka’s corporate calendar, and it is a privilege for the Chamber to host this landmark gathering for the 25th consecutive year, since its inception in 2000. This year, we are proud to expand its scope by explicitly integrating the investment dimension, recognising that attracting sustainable and high-quality investment is central to Sri Lanka’s long-term economic transformation.

Accordingly, our theme this year — “Gateway to Growth: Asia’s Emerging Opportunity” — reflects both Sri Lanka’s potential and our collective aspiration to position the country more strongly within a rapidly evolving regional landscape.

We are deeply encouraged by the strong participation of over 800 delegates. We are extremely encouraged by the participation of over 100 foreign delegates and investors, thank you for travelling to Colombo to be with us. We know many of you are eager to gain deeper insights into Sri Lanka’s economic trajectory, reform progress, sectoral opportunities, and partnership potential. We hope that the conversations over the next two days will be productive, insightful, and inspiring.

Sri Lanka today stands on a clear and credible path of economic revival. After a period of immense challenge, we now see:

1. steady, broad-based growth,
2. a resurgence in exports, tourism, remittances, and investment,
3. fiscal consolidation and reforms that have restored stability,
4. completion of domestic debt restructuring,
5. inflation brought firmly under control, and
6. renewed confidence returning to markets and consumers alike.

International partners have also recognised this progress.

• Former IMF First Deputy Managing Director Gita Gopinath recently described Sri Lanka’s recovery as a “stand-out experience” and “remarkable progress within a short period.”
• The World Bank, in its latest Public Finance Review, emphasised that the scale and speed of Sri Lanka’s fiscal adjustment stand out “by historical and international standards.”

These reforms are translating into real activity on the ground, with growth now approaching 5% of GDP, underpinned by stronger investor sentiment.

For investors, the message is clear: Sri Lanka is once again open, stable, and ready for business. Our strategic location at the crossroads of the Indian Ocean — a short distance from India — positions us uniquely as a gateway to South Asia and the broader region.

Over the next two days, this Summit will:

• examine the macroeconomic outlook for Sri Lanka in the coming years;
• draw lessons from international experiences of countries that have emerged successfully from debt crises and implemented credible growth paths
• spotlight high-growth and high-potential sectors such as tourism, logistics, ports, exports, capital markets manufacturing, and technology;
• and bring together perspectives from global speakers representing Malaysia, Greece, the Netherlands, Australia, India, and many others — alongside leading voices from our multilateral, regional, and local institutions.

We are grateful to all resource persons — especially our moderators — for taking time out of their busy schedules to share their expertise with us.

I also wish to extend my sincere appreciation to our Summit Chair and Committee, for their strategic guidance; and the dedicated Chamber Summit team, who have worked tirelessly behind the scenes, navigating numerous challenges, to ensure the seamless execution of this event.

As we embark on this 25th edition of the Summit, I extend my best wishes for meaningful dialogue, insightful analysis, and productive networking. May the outcomes of our discussions help shape credible policies, drive interest from our foreign participants into realized investments, and unlock the transformational growth that Sri Lanka urgently needs.

I also hope the Summit inspires both public and private sector leaders to act as reform champions — catalysts for progress, innovation, and long-term prosperity.

Thank you, and I wish you all an enriching and successful Summit.

Source: adaderana