Sri Lanka’s Economic Outlook brightens with Graphene

An exclusive business conclave for Investment Promotion on Graphene Technology  was held at Kingsbury Colombo last weekend aimed at promoting investment in graphene technology, attracting a robust presence of both local and international investors. This high level platform was orchestrated by Eng. Keerthi Wickramarathna, Chairman of Ragedara Graphite Mines, a pioneer in the mining, research and production of vein graphite and graphene in Melsiripura, Sri Lanka.

The conclave served as a critical forum for discussing the future potential of graphene and its transformative impact across global industries. Key topics included the strategic importance of graphite and graphene as materials that could drive technological advancement and bolster national economic growth. Nishantha Jayaweera, Deputy Minister of Economic Development, noted with encouraging news about Sri Lanka’s economic outlook acknowledging the private sector’s role in creating value-added products for niche export markets, a sentiment echoed during the Graphene product launch.

“Sri Lanka has achieved an improved stable economy status as we look towards the year 2025, surpassing our financial expectations  marking a significant victory. Our primary aim moving forward is to accelerate development and broaden our economy, consolidating Foreign Direct Investments (FDI) while attracting local investments. This reflects what the people expect from us,” he emphasized.

Deputy Minister Jayaweera also announced the introduction of three new acts designed to enhance investment opportunities in Sri Lanka: an Investment Protection Act, an Investment Promotion Act, and a Strategic Development Act. Additionally, he revealed a five-year Investment Diversification Plan aimed at achieving the government’s specific goals, which includes potential tax relief for investment ventures in the Port City. Eng. Keerthi Wickramarathna elaborated on the significance of graphene, stating, “Sri Lankan Graphene has been recognized as the prime quality Conductive Graphene globally, having been tested against other countries at the University of Singapore. With the right infrastructure and a focus on production, we can supply first-class graphene to the world and earn significant foreign revenue.”

He said that high-grade graphene currently valued at 30 times the price of gold and expressed optimism about his existing orders from countries including China, Germany, the USA, Japan, India, Korea, England, and various European nations, with some investors eager to enter the graphene business in Sri Lanka. “We are capable of producing graphene cost-effectively compared to our competitors, and our product quality is three times superior based on global market acceptance and feedback,” he concluded, highlighting the potential for Sri Lanka to capitalize on its rich natural resources in the graphene sector.

Source: Daily News