The Business Roundtable, organized by the US Council on International Understanding in collaboration with Washington Global Advisors, took place on March 11, 2025. The event was attended by the Sri Lankan Ambassador to the United States, Mr. Mahinda Samarasinghe, alongside over twenty-five representatives from major US private institutions. Among them were several former US ambassadors to Sri Lanka who now serve on the boards of prominent American companies.
The discussion centered on recent political shifts in both Sri Lanka and the United States, which have sparked renewed interest in investment opportunities in Sri Lanka. Participants acknowledged the Sri Lankan government’s commitment to anti-corruption measures as a key factor influencing this renewed investor confidence.
At the outset of the discussion, Ambassador Samarasinghe highlighted Sri Lanka’s severe financial crisis in 2022, which stemmed from years of economic mismanagement, nepotism, and public concerns over waste and corruption. He emphasized that the initial steps to integrate Sri Lanka into the IMF’s Extended Fund Facility (EFF) program were taken through the Sri Lankan Embassy in Washington. The Ambassador recounted how the Embassy played a crucial role in initiating contact with the IMF, including a proposal to the IMF Managing Director to dispatch a high-level team to engage with Sri Lanka’s then-President. He also expressed appreciation for the “tremendous support” the country received from the United States during this process.
Sri Lanka has since made an impressive economic recovery, transitioning from negative growth to a projected 5% GDP growth in 2025. The country now possesses the capacity to finance nearly four months of imports, further strengthening investor confidence. Ambassador Samarasinghe noted that despite changes in government and political leadership, Sri Lanka is now recognized internationally as a model for economic resilience and a nation steadfast in its commitment to private-sector-driven growth.
Making a compelling case for increased foreign investment, the Ambassador underscored Sri Lanka’s current political stability, achieved through a strong popular mandate for systemic reform and anti-corruption initiatives. He also highlighted the country’s unique advantages, including South Asia’s highest literacy rate at 92%, a highly skilled workforce that consistently attracts foreign investors, and Sri Lanka’s strategic location along one of the busiest maritime trade routes in the Indian Ocean. Additionally, he reaffirmed the constitutional guarantees provided for foreign direct investment, further strengthening Sri Lanka’s appeal as an attractive destination for global investors.
