Investing in Sri Lanka’s Potential is a bet for the long term

By The Coca-Cola Company, Managing Director – Sri Lanka & the Maldives, Pankaj Sinha

Coca-Cola, with its 62-year presence in Sri Lanka, has remained committed to supporting this beautiful country through its challenges. As someone who has made Sri Lanka his home since 2019, and seen the country grapple with natural disasters, acts of terrorism, and now an economic crisis, I am humbled and honored to witness Coca-Cola’s unwavering commitment to investing in Sri Lanka and giving back to the communities we operate in.

This commitment is driven by the belief in Sri Lanka’s vast potential, which is evident through its abundant natural resources, skilled workforce, thriving tourism industry, and developing infrastructure. Coca-Cola’s investments in the country have already started making a positive impact, and here’s why the company remains optimistic about Sri Lanka’s future.

Natural resources – a boon to tourism and operational excellence in businesses

Sri Lanka’s rich natural resources serve as a catalyst for both tourism and operational excellence in businesses. With diverse wildlife reserves, stunning coastlines, and picturesque landscapes, the country attracts tourists from the UK, India, and Europe, creating opportunities for eco-tourism services and demand for accommodation, food, beverages, and unique offerings.

As a global beverage brand, Coca-Cola is well-positioned to serve and refresh these tourists, but its role goes beyond that. The company actively collaborates with partners and volunteer networks to preserve ecologically rich sites, combat pollution, and minimize waste, enhancing the experience for both tourists and locals.

Additionally, Sri Lanka’s natural resources offer opportunities for investing in clean and cost-efficient renewable energy, such as solar power. Embracing renewable energy sources has already improved Coca-Cola’s operations, contributing to the local economy and global environmental preservation efforts.

Fast Developing Infrastructure

Following the end of the ethnic conflict, Sri Lanka has experienced a significant infrastructure boom that has attracted investors worldwide. Upgraded seaports, international airports, and better roads and highways have facilitated economic growth and made it more convenient for tourists and businesses to travel within the island. This improved infrastructure has made Sri Lanka an appealing destination for global brands looking to expand their operations in South Asia, with enhanced transportation networks making it easier to import and export goods.

Skilled Workforce – the driving force behind Sri Lanka’s progress

Sri Lanka’s highly skilled and adaptable workforce, proficient in English, makes it an attractive destination for global businesses. Colombo, in particular, employs over 80,000 people in the IT and BPM industry, with a low attrition rate and a rapidly growing labor force. The city’s cost competitiveness and lower wage pressures compared to other sourcing destinations make it an ideal location for businesses aiming to optimize their operations. Coca-Cola recognizes the potential of Sri Lanka’s workforce and seeks to empower it through direct and indirect employment opportunities, including related industries such as plastic recyclers and waste collectors.

Strategic Location

Sri Lanka’s location has long been recognized as a key advantage for businesses expanding their regional reach. Its position at the crossroads of major shipping routes connecting the East and West provides easy access to regional markets. This makes it a highly attractive destination for trade and investment. With its proximity to major ports, Sri Lanka has become a hub for shipping and airfreight services, enabling companies to transport goods quickly and efficiently.