From New Ideas to New FX Earnings: Making ViYASA Work for Sri Lanka

Lanka Business Online publishes an article by Prof. Asoka S. Seneviratne arguing that Sri Lanka needs to develop diverse, productive sources of foreign exchange to strengthen its long-term economic resilience. The piece refers to a Daily FT article published on 26 October 2026, which it says urged Sri Lanka to consider new industries, services and business models.

Lanka Business Online reports that the author points to Singapore, South Korea, Penang in Malaysia, Taiwan and Dubai as examples of economies that created new sources of international income by building capabilities, attracting investment and finding ways to participate in global markets.

Lanka Business Online says the article proposes assigning the National Business Facilitation Centre, ViYASA, a specific role in receiving, evaluating and coordinating credible proposals for new ways to earn or save foreign exchange. The author says ViYASA should complement existing institutions rather than duplicate their work or assume responsibilities belonging to private businesses.

Lanka Business Online reports that the proposal calls for a clear mandate, coordination among agencies, transparent commercial assessment, timely decisions and measurable results. It sets out the intended outcome as viable economic activity that produces sustainable net foreign exchange, creates productive employment and strengthens the country’s external resilience.

Written automatically by AI from the outlets’ own reports, and not reviewed by an editor. It can be wrong — the original report is the authority.