Dubai has become the focal point for Sri Lanka’s ambitious campaign to attract foreign investment from the United Arab Emirates, with government officials and financial experts presenting the island nation as a prime destination for capital deployment. At the Invest Sri Lanka Investor Forum held in Dubai, representatives highlighted the country’s remarkable economic turnaround and diverse investment prospects.
Sri Lankan authorities emphasized their nation’s exceeding of fiscal and economic targets over the past two years, coupled with comprehensive modernization initiatives and digital transformation of government services. These developments have created what officials describe as a ‘more stable and predictable’ investment environment, supported by streamlined governance frameworks and attractive incentives including tax holidays.
Investment opportunities span multiple sectors, with tourism emerging as particularly promising. Naveen Gunawardane, Managing Director and Co-Founder of Lynear Wealth Management, identified significant potential in developing resort areas beyond Colombo, noting a shortage of quality accommodations in coastal regions. ‘There’s a massive opportunity over the next couple of years for companies to set up hotels in resort areas,’ Gunawardane emphasized, pointing to the Southern coast and Eastern belt as key development zones.
The construction sector likewise shows strong growth prospects, rebounding from previous contractions with renewed infrastructure projects and increased residential development. Additionally, logistics, agriculture, IT services, energy, and renewable energy present compelling opportunities for UAE investors.
Professor Arusha Cooray, Sri Lankan Ambassador to the UAE, highlighted the existing bilateral agreements that provide solid legal foundations for investor protection. ‘Sri Lanka is a very attractive destination to invest in, not just in terms of lifestyle, but numerous opportunities now available through government reforms,’ she stated, specifically mentioning Colombo Port City as an emerging financial and trade hub.
The Central Bank of Sri Lanka projects economic growth between 5-7%, supported by what Governor P. Nandalal Weerasinghe characterized as ‘the right balance of monetary policy.’ The investment push extends beyond major portfolios to include ordinary expatriates, who can participate through mutual funds with initial investments as modest as a few hundred dollars.
With approximately 350,000 Sri Lankans residing in the UAE—whose remittances contribute significantly to Sri Lanka’s GDP—the campaign leverages both institutional investment channels and individual expatriate participation in the nation’s economic revitalization.