The ‘Invest Sri Lanka’ Investor Forum organized by the Colombo Stock Exchange (CSE), the Securities and Exchange Commission of Sri Lanka (SEC) and the Singapore –Sri Lanka Business Association (SLBA)was recently held at the Four Seasons Hotel Singapore and made a strong case for investment flows into Sri Lanka. The eventdrew a strong turnout of leading Asia–based institutional funds and other investorsacross multiple industries and was graced by Hon. Prime Minister Rani lWickremesinghe as the keynote speaker and the Minister for Trade and Industry in Singapore Hon. S.Iswaran.
A Sri Lankan delegation including senior representatives of the CSE, SEC,the Central Bank of Sri Lanka,17 listed companies and12Stock Broker Firms collectively pitched for further investment flows into Sri Lanka, a call that was also boosted by strong endorsements for Sri Lanka by the Singapore Business Federation (SBF), CHEC Port City Colombo, Shangri-La Hotels and Resorts, Aberdeen Standard Investments Asia and DBS Bank.
Prime Minister RanilWickremesinghe making the keynote address at the event stated that Sri Lanka is on the path of becoming an attractive place for business in South Asia.
“We are undertaking many policy initiatives to incentivize direct private investment both foreign and local. In 2018, you will see the results of our commitment to improving the ease of doing business.”
“By mid-2018, the time taken to register a new business will reduce from 6 days to just 1 day. Finding land and registering property will be halved from 51 days to 26 days, and the procedures reduced from 9 steps to 2 steps. We are introducing an ‘Electronic Single Window’ that will link dozens of state agencies dealing with international trade through a few clicks”the Hon. Prime Minister added.
The Minister for Trade and Industry in Singapore Hon. S. Iswaran speaking at the event stated that, the strong turnout to the conference is testimony to the growing interest in opportunities in Sri Lanka.
The Governor of the Central Bank of Sri Lanka Dr. Indrajit Coomaraswamy speaking on the economic outlook at the event outlined a number of positive trends and developments experienced in the Sri Lankan economy, including record exports and inward direct investment in 2017 and stated that such developments provide the indication that Sri Lanka is beginning to benefit from the reforms implemented to stabilize the economy and foster growth. The Governor noted that there are certainly grounds for cautious optimism that the macro-economic trends in Sri Lanka are heading in the right direction.
CSE Ray Abeywardena speaking at the event stated that a new and improved backdrop of cooperation between Singapore and Sri Lanka will deepen economic ties and facilitate greater investment flows between the two nations. Commenting on the stock market Abeywardena said, “we entered 2018 on the back of a record year last year in terms of foreign investment. Foreign investors bought into Sri Lankan equities last year more than any other year in our history, which is a strong endorsement of the value proposition the stock market offers at present.”
“ Sri Lanka is presently being pin pointed by investors and market commentators around the world, as one of the most attractive frontier markets. And the investment case for the Sri Lankan market is only getting stronger.”
In addition, the Forum also featured a prominent lineup of other speakers including the Sri Lankan High Commissioner in Singapore, Nimal Weeraratne, Chairman at Kouk (Singapore) Limited, Kuok Khoon Ean, Chief Sales and Marketing Officer at CHEC Port City Colombo, Liang Thow Ming, Chief Economist and MD at DBS Group Research Taimur Baig, Managing Director at Aberdeen Standard Investments Asia, Hugh Young, Head of Investments at Softlogic Holdings PLC, Niloo Jayatilake, and the Honorary Treasurer of SBF Mr. Lawrence Leow and the President of SLBA, Angelo Perera.
The Governor of the Central Bank of Sri Lanka Dr. Indrajit Coomaraswamy, SEC Director General Vajira Wijegunawardane, CSE CEO Rajeeva Bandaranaike and the Head of Investments at Softlogic Holdings Niloo Jayatilake also featured in an engaging panel discussion moderated by the Chairman of the Institute of Policy Studies in Sri Lanka Dr. Razeen Sally.
A series of investment focused, pre-scheduled one-on-one/group discussions between investors and participating Sri Lankan listed companieswere also organized as a part of the Investor Forum, where a number of leading international and Asian institutional frontier market focused fundsand other investors showed a keen interest in discussing the investment opportunities available in Sri Lankan listed companies.
John Keells Holdings PLC, Commercial Bank of Ceylon PLC, Hatton National Bank PLC, Hemas Holdings PLC, Sampath Bank PLC, DFCC Bank PLC, National Development Bank PLC, Access Engineering PLC, Tokyo Cement Company (Lanka) PLC, Seylan Bank PLC, Lion Brewery Ceylon PLC, Hayleys PLC, Singer Sri Lanka PLC, Softlogic Holdings PLC, LAUGFS Gas PLC, Sunshine Holdings PLC and MTD Walkers PLC attended the events.
The Invest Sri Lanka initiative in Singapore was supported by the Singapore Business Federation– Strategic Partner, DBS Private Bank Singapore – Platinum Sponsor, Capital Alliance Partners – Platinum Sponsor, Wilmar International Limited – Platinum Sponsor,BP de Silva Holdings– Platinum Sponsor, Acuity Partners – Gold Sponsor, Asia Securities – Gold Sponsor, Ceylon Guardian – Gold Sponsor, CT CLSA Securities – Gold Sponsor, Dwellings Group – Bronze Sponsorand the Oxford Business Group - Exclusive Publication Partner.
The Sri Lankan High Commission in Singapore, the Singapore International Chamber of Commerce, the Singapore Indian Chamber of Commerce and International Chamber of Commerce Sri Lankawere Promotional Partners of the initiative.
The Invest Sri Lanka initiative generated a keen interest in both the international media and the media in Singapore, where senior representatives from CBSL and the CSE strengthened Sri Lanka’s investment case through a number of interviews and media appearances during the period.
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