The Northern Investment Summit Northern (NIS26) was a great success within its limitations and objectives. It lit a fuse running from South to North Sri Lanka. With great effort, The Management Club, founded in Colombo 25 years ago, with its more recently formed Northern Chapter organised this event successfully, bringing in the highest level of government ministers and organisations.

Minister of Justice Harshana Nanayakkara,  and Minister of Industries and Entrepreneurship Sunil Handunetti were among those who took the arduous trip up North to attend in person.

Chairman of the BOI, Arjuna Herath, envisioned a four-lane highway from Colombo to Jaffna, freight trains, and the development of the airport, harbour, and industrial zones. For the first time, I heard that the international airport may be in Kilinochchi (Iranamadu), rather than Palaly, due to the availability of land.

Chairman of the EDB, Mangala Wijesinghe, commented that only US$25 million of Sri Lanka’s approximately US$15 billion in exports came from the North. While there are probably statistical quirks—such as where exports are booked when goods are produced in the North for companies incorporated in the South—this still amounts to less than half a percent of total exports.

Chairman of NEDA, Lakshman Abeysekera, said that nationally, SMEs produce 52% of GDP but account for only 5% of exports.

Minister of Industry and Entrepreneurship Development, Sunil Handunetti, spoke about abandoned resources, such as agricultural land and property left unused. He also commented on the country’s natural assets, including the coastline for fisheries and tourism, and renewable energy sources such as solar and wind.

The Indian Consul General for Jaffna and the North, Sai Murali, spoke about the success of Tamil Nadu and how Sri Lanka can follow its lead, highlighting our Indian brothers’ aspirations, entrepreneurship, English language skills, and their embrace of technology as an equalizer that fast-tracked the state’s economic development.

Channa Daswatte, one of Sri Lanka’s leading architects, spoke about “Tourism in Heritage and Conservation.” He emphasized that the North’s assets are not only its monuments, but also the engagement with its people, landscapes, and stories.

Heminda Jayaweera, CEO of Trace City—the technology and innovation hub in Colombo—spoke about a friend in India who developed a product on his kitchen table, without costly laboratory equipment, and went on to sell the intellectual property (IP) for millions of US dollars.

Cecil Sunder, Microsoft’s Director for Cloud and AI Solutions, speaking over a Zoom call, told the audience that AI is a powerful equalizing opportunity. “Einstein in your hand,” he said—“an opportunity for Jaffna to seize.”

Harshana Nanayakkara, Minister of Justice and National Integration, was also there in person. For the first time in my memory, I observed a minister speaking with great sincerity about the development of the North.

Victor Antonypillai, Head of the International Finance Corporation (IFC)—the investment arm of the World Bank—in Sri Lanka, said that only 20% of the money deposited in banks in the Northern Province is loaned to businesses in the same province, as banks are highly risk-averse. He also spoke about a company in Lebanon that earns millions of US dollars by assembling electronic components entirely from imported semiconductors and related inputs.

In my own words, our nimble-fingered women are wasting their time in poverty making handicrafts, instead of assembling electronics or building drones. All these and other prominent individuals made the arduous trip to Jaffna from Colombo, rather than sending their deputies or secretaries.

Professor Atputhrajah, Vice Chancellor of Vavuniya University, announced the launch of the One Stop Shop Investment Portal (OSSI). I contacted Professor Atputhrajah, who put me in touch with the hands-on lead, who noted that although the portal has been launched, it still needs momentum to truly take off.

Collectively, a fuse has been lit; now the North needs to provide the gunpowder to ignite it. I am discussing this with my friends, and I hope we are not the only ones.