Monday Mar 31, 2025
Monday Mar 31, 2025
Friday, 28 March 2025 00:00 - - {{hitsCtrl.values.hits}}
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| Finance and Planning Deputy Minister Dr. Harshana Suriyapperuma |
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| Labour Minister and Economic Development Deputy Minister Prof. Anil Jayantha Fernando |
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| CBSL Governor Dr. Nandalal Weerasinghe |
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| SEC Chairman Senior Prof. D.B.P.H. Dissabandara |
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| CSE Chairman Dilshan Wirasekara |
By Janani Kandaramage
The Government yesterday told foreign investors now is the right time to enter Sri Lanka as subsequent to restoration of stability, the new policy thrust is to achieve higher growth sans corruption.
The emphasis of the new growth model was in addition to Sri Lanka being second most attractive for listed equities on valuations among emerging markets.
The new pitch to woo investors was made at a top forum organised by the Colombo Stock Exchange (CSE) and the Securities Exchange Commission (SEC) in Colombo yesterday. Over 100 foreign investors and funds attended the ‘Invest Sri Lanka’ forum apart from representatives of listed companies, capital market participants, and officials.
“The economic revival taking place now is an opportunity for investors. We have ensured clarity, consistency, and continuity. We are putting the building blocks to expand the production economy and help businesses achieve their next growth phase,” said Chief Guest Finance and Planning Deputy Minister Dr. Harshana Suriyapperuma.
As testimony, he cited the 2025 Budget as well as the continuity of the International Monetary Fund (IMF) program with negotiations by the new Government to ensure relief to vulnerable sections of the population and businesses.
“The people have chosen a new path for Sri Lanka as evidenced by the election of President Anura Kumara Disanayake and the National People’s Power (NPP) Government. We have demonstrated zero tolerance for corruption and malpractices. To do business or invest, you don’t have to go behind or pay politicians. The price that investors had to pay before in terms of corruption is now taken away from the equation. Investors can come, discuss, negotiate with the authorities that are dedicated and assigned, and start their businesses or investments without paying politicians. It is the right time to enter Sri Lanka,” he emphasised.
Dr. Suriyapperuma also stressed that a promising journey has begun in Sri Lanka, with many positives including the revival of the economy, Colombo stock market, tourism etc.
“We are taking the rebound in confidence to the next level. Foreign investors can capitalise on this substantial growth opportunity and potential,” he said, adding that resilient people is a key asset of Sri Lanka.
He also urged investors to go beyond Colombo and engage with rural leaders and communities to understand the potential and the real valuations.
Labour Minister and Economic Development Deputy Minister Prof. Anil Jayantha Fernando said the new Government is pursuing an economic policy to facilitate value generation and capital formation. He also said the priority policy was to enhance exports and investment along with zero corruption.
It was pointed out that the capital market can play a pivotal role in reducing Sri Lanka’s gap between savings and investment.
Central Bank of Sri Lanka (CBSL) Governor Dr. Nandalal Weerasinghe assured foreign investors at the forum that given recent success, Sri Lanka now offers stability and predictability. “We are making our best efforts and Sri Lanka is today in a much better place than two years ago,” he added.
Deloitte Sri Lanka and Maldives Head – Strategy, Risk and Transactions Ruvini Fernando enlightened foreign investors with a presentation on Sri Lanka and high investment potential sectors. SEC Chairman Senior Prof. D.B.P.H. Dissabandara and CSE Chairman Dilshan Wirasekara also spoke at the inauguration.
The forum also included three panel discussions involving officials and industry experts.
The panel on “Policy Framework for Accelerated Economic Growth” featured Deputy Minister Prof. Fernando, CBSL Governor Dr. Weerasinghe, SEC Chairman Senior Prof. Dissabandara, and was moderated by Bloomberg News Managing Editor for South Asia Jeanette Rodrigues.
The second panel “Leveraging Economic Growth for a Robust Capital Market” saw the participation of CSE Chairman Wirasekara, Tundra Fonder AB Founding Partner/Chief Investment Officer Mattias Martinsson, Redwheel Emerging and Frontier Markets Team Co-Head and Portfolio Manager James Johnstone, HNB Investment Bank Managing Director Ray Abeywardena, Asia Securities Chairman Dumith Fernando, and was moderated by LYNEAR Wealth Management Managing Director and Co-Founder Dr. Naveen Gunawardane.
The final panel, “Navigating Frontier Capital Markets: How Evolving Market Regulations and Exchanges Foster Efficient Capital Deployment,” featured CSE Chairman Wirasekara, SEC Director General Chinthaka Mendis, SEC Pakistan Chairman Akif Saeed, CEO Farrukh. H. Sabzwari, Dhaka Stock Exchange Chairman Momimul Islam, Maldives Stock Exchange Managing Director/CEO Mohamed Aushan Latheef, and moderator CSE CEO Rajeeva Bandaranaike.
The visiting foreign investors also held pre-scheduled one-on-one meetings with listed companies, whilst a few site visits are planned for today.
