Sri Lanka Consolidates Industrial Agencies, Launches Digital Industry Platform

Sri Lanka is undergoing a significant overhaul of its industrial regulatory framework, merging three key state agencies and launching a new digital platform to streamline operations and promote growth. The moves, spearheaded by Minister of Industry and Entrepreneurship Development Sunil Handunnetti, aim to create a more efficient and transparent environment for businesses and investors.

Agency Consolidation and the Sri Lanka Industrial Transformation and Innovation Authority (SITIA)

The government is consolidating the Industrial Development Board (IDB), the National Enterprise Development Authority (NEDA), and the Tiny Business Development Division into a single entity, the Sri Lanka Industrial Transformation and Innovation Authority (SITIA). Minister Handunnetti announced the initiative in parliament, stating the goal is to eliminate duplication of perform and simplify processes for entrepreneurs [EconomyNext]. Cabinet approval for the consolidation was secured in January 2026, and the drafting of the necessary Act is in its final stages [EconomyNext].

National Industry Information System (NIIS) Launched

In November 2025, the Ministry of Industry and Entrepreneurship Development launched the National Industry Information System (NIIS) [Xinhua]. Accessible at https://slenterprises.gov.lk, the NIIS is a digital platform designed to centralize and manage all information related to economic and industrial activities across Sri Lanka [IDB].

Key Features of the NIIS:

• Central Database: Acts as a comprehensive repository for industry information.
• Data Coverage: Includes details on industry basics, business classification, legal status, registration, UN classification, scale, production, raw materials, market coverage, employment, energy consumption, and waste management [IDB].
• Registration Process: Industrialists can register via a user account or through authorized government officials. Applications undergo review and potential site inspections.
• Certification: Registered industries receive official certification recognizing their status in the National Industry Database.
• Annual Updates: Registered industries are required to update their information annually to ensure data accuracy.
• API Access: Authorized entities (government agencies, banks, regulators) can verify industry authenticity through Application Programming Interface (API) access.
• Public Access: Selected non-sensitive information is publicly accessible to promote transparency.

New Industrial Zones and Investment Incentives

The government plans to develop 33 industrial zones across the country [EconomyNext]. Several zones are already in development:

• Suriyawewa Park (Hambantota): A 20-acre zone is nearing completion.
• Aluthapola (Gampaha): Ready for handover to investors.
• Paranthan: A specialized chemical production zone is under development.
• Valachchenai (Batticaloa): A leather-centric park is being established.
• Nochchiyagama: A 50-acre site is available for suitable investors.
• Wellawaya: A 9.25-acre park is available for investors.

To attract long-term capital, the government is offering 35-year leases on land within these zones, priced according to state valuations [EconomyNext].

Northern Investment Summit 2026

A preliminary report from the Northern Investment Summit 2026 was handed over to Minister Sunil Handunnetti on February 14, 2026 [Facebook].

These initiatives collectively represent a concerted effort to modernize Sri Lanka’s industrial sector, attract investment, and foster sustainable economic growth.