US Ambassador Julie Chung has cautioned that Sri Lanka risks falling behind unless it embraces bold structural reforms, warning that global economic competition is accelerating. Speaking as the Chief Guest at the ninth Annual General Meeting of the Sri Lanka–USA Business Council of the Ceylon Chamber of Commerce, she emphasised that “growth depends on more than just recovery.”
“Structural reforms, market diversification, reducing non-tariff barriers, state-owned enterprise inefficiencies, and investing in human capital will be imperative for Sri Lanka to thrive in the decade ahead,” she stated, as reported by Daily FT.
Chung called on business leaders to advocate for regulatory stability, transparency, and a more welcoming investment climate. “You are uniquely positioned to drive policy changes that attract investment and create better-paying jobs,” she added. She also referenced a recent court victory for Under Armour against counterfeit goods in Sri Lanka as a strong signal of judicial reliability for foreign investors.
Incoming President of the Council, Tilak Gunawardena of MAC Holdings, stressed the importance of dialogue with international partners and outlined key priorities including trade facilitation, innovation, and institutional collaboration.
According to The Morning Business, Chung also encouraged Sri Lankan firms to participate in the 2026 SelectUSA Investment Summit to deepen US-Sri Lanka trade ties.
