Wednesday Nov 06, 2024
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Wednesday Nov 06, 2024
Saturday, 12 August 2023 01:34 - - {{hitsCtrl.values.hits}}
State Finance Minister Shehan Semasinghe underscored the ideal conditions for investors to engage with Sri Lanka’s burgeoning economy and seize opportunities for investment.
Speaking at the “Invest Sri Lanka” forum in India, organised by the Colombo Stock Exchange (CSE) in collaboration with the Confederation of Indian Industry (CII) and Stockbroker Firms, the State Minister emphasised the country’s readiness for economic recovery and sustainable growth.
Addressing participants in Chennai and Mumbai, Semasinghe described the “Invest Sri Lanka” forum as a series of events designed to promote foreign portfolio investment into Sri Lanka’s stock market. The aim is to showcase the array of investment prospects available within the country.
Highlighting Sri Lanka’s attractiveness as an investment destination, Semasinghe acknowledged that despite its inherent potential, the country had been held back by persistent macroeconomic imbalances. However, he said the recent economic crisis has acted as a catalyst for essential reforms that address these vulnerabilities, signalling a new era for the economy.
“We believe that this provides Sri Lanka with the opportunity to finally fulfil the tremendous potential that has been suppressed for too long. This creates great opportunity from an investment perspective across multiple asset classes,” he added.
As institutional and legislative reforms lock in inflation at single-digit levels, he said the anticipated decline in interest rates is set to pave the way for opportunities in both equity and fixed income markets.
The State Minister pointed out that the lowered interest rates would alleviate financial burdens on firms, offering relief to those that have struggled with high finance costs in recent times. “The reduced rates are expected to stimulate investments as the country anticipates a gradual expansion in economic growth,” he added.
