By Haridhu Abeygoonaratne, Managing Director/COO – SimCentric /Vice Chair – SLASSCOM
At first glance, it may seem surprising that a firm specializing in cutting-edge military simulation technologies for clients like the US Marine Corps, the UK Ministry of Defence, and various NATO and Commonwealth forces is headquartered in Colombo. Nevertheless, this accurately describes SimCentric’s journey. Over the past seventeen years, we have grown into a globally recognized defense technology enterprise, focusing on the creation of innovative commercial off-the-shelf (COTS) products that enhance training and operational efficiency worldwide, all managed from Sri Lanka.
Many are curious about how we transitioned from a modest engineering team to a business catering to some of the most demanding clients globally. The truth is, it required years of developing capabilities, improving our products, building trust, and consistently delivering results. My experiences have significantly influenced my approach to business expansion and economic progress. Whether establishing a company, nurturing a new industry, or positioning a nation as an attractive investment hub, the formative years involve laying down foundations that often go unnoticed from the outside. One of our most pivotal decisions was to grow our operations in Sri Lanka, rather than viewing it as a temporary base before relocating to other regions.
On a personal level, the key lesson in business extends far beyond our own success. SimCentric’s trajectory illustrates that Sri Lanka is capable not only of providing talent to the global market but also of generating competitive intellectual property, pioneering advanced technologies, and creating businesses that can expand internationally.
We recognized early in our journey that our country offered more than just a cost advantage. Every core product developed by SimCentric is crafted in Port City Colombo. Our software supports training environments utilized by some of the world’s most advanced defense organizations, and the engineers responsible for these innovations are graduates from local educational institutions. This realization should fundamentally alter the narrative surrounding our nation. For a company like ours, servicing defense and technology clients across various jurisdictions, the ability to function within an internationally oriented business landscape significantly impacts our speed of hiring, contracting, transacting, and expanding.
Sri Lanka’s digital economy has reached a crucial juncture. The Export Development Board now ranks ICT services as the third-largest export sector in the country, consisting of over 400 companies and a workforce exceeding 140,000 professionals. According to the Sri Lanka Association for Software and Services Companies (SLASSCOM), the sector’s overall export value stands at approximately US$2 billion and continues to grow. In my role with SLASSCOM, where I frequently interact with founders, tech leaders, and international investors, I have noticed a shift in discussions over the years. Conversations increasingly focus on how we can foster an environment that encourages companies to innovate more rapidly, commercialize ideas effectively, and scale globally without needing to relocate. This is where Port City Colombo’s strategic importance becomes evident. The next goal for Port City Colombo should be to cultivate more globally recognized product companies, research and development centers, and businesses that develop valuable intellectual property rather than merely offering technical services to foreign clients.
One undeniable reality of establishing globally competitive technology enterprises is that success increasingly relies on the quality of the surrounding environment as much as on the company itself. While talent remains essential, the modern innovation economy also calls for immediate access to specialized expertise, advanced supply chains, international capital, and regulatory stability. Port City Colombo can serve as a springboard in this regard.
Too often, Port City Colombo is viewed solely as a physical development or evaluated based on short-term investment metrics. However, I perceive it as a platform designed to foster an environment where globally connected businesses can operate with enhanced speed, confidence, and flexibility compared to traditional settings. For enterprises within knowledge-intensive sectors, these advantages are particularly relevant. The capacity to transact freely in major international currencies, attract specialized global talent, operate under familiar regulatory frameworks, and secure long-term investments with greater certainty all contribute to making Port City Colombo a competitive base for international operations. These elements are interconnected, creating an operational landscape that aligns with the requirements of contemporary global businesses.
My involvement with SLASSCOM has reinforced the notion that when investors assess fiscal incentives, their decisions are equally influenced by factors such as predictability, transparency, and overall confidence. They seek assurance that regulatory conditions will remain stable, that business operations can be conducted efficiently, and that the country possesses a long-term vision that transcends political or economic fluctuations.
In comparison to established financial hubs worldwide, Port City Colombo offers a distinctly unique investment opportunity. Its primary strength lies in its status as an emerging international business destination, providing investors with the rare opportunity to enter a purpose-built ecosystem created for the future. As an entrepreneur, my primary concern is not an extensive list of incentives but rather whether a business can operate efficiently, hire globally, conduct transactions smoothly, and plan with confidence. For international enterprises looking beyond mature markets, Port City Colombo presents the potential for substantial long-term value creation and the chance to shape a new regional financial center from its inception. Rather than merely participating in an existing ecosystem, investors have the opportunity to contribute to its development.
Initiatives like Port City Colombo are pivotal in this endeavor, not because they guarantee the success of individual businesses, but because they help establish the conditions necessary for a diverse range of enterprises to thrive.
If we succeed in fostering these conditions, the lasting legacy of Port City Colombo will be evident in the companies that choose to base their operations in Sri Lanka, the ideas transformed into globally recognized products, and the generations of local and international entrepreneurs who regard Port City Colombo as the premier location in the region to shape their future.
Financial Chronicle Biz English | Sri Lanka Business News.
