The Invest Sri Lanka Investor Forum hosted in Sydney yesterday by the Colombo Stock Exchange (CSE) in association with the Securities and Exchange Commission of Sri Lanka (SEC) drew over 150 participants including Institutional Investors, high-net-worth individuals, Sri Lankans living in Sydney and other individuals with a business interest in Sri Lanka.
The interest in Sri Lanka was evident from the lively interaction the participants had with the Sri Lankan delegation at the Question and Answer (Q&A) session.
Making the keynote address at the event, National Policies and Economic Affairs State Minister Niroshan Perera pledged governments’ continued commitment to facilitating investments and stimulating the establishment of transparent and well governed institutions.
SEC Director General Vajira Wijegunewardane said they are resolute and unwavering in insistence on better, more facilitative regulations across the board, and are committed to formulating new policies which will lay a solid foundation for the market, enabling it to grow to potential and to enter new frontiers: while concurrently working on a wide complement of developmental initiatives.
Colombo Stock Exchange, Chairman Vajira Kulatilaka spoke about the opportunities in the capital market highlighting the comparatively low PEs and the diversification opportunity the Colombo Stock market offers. He urged the participants to consider the different debt and equity options on offer including the entry to Colombo through professionally managed funds.
The CSE chairman alluded to the rise in corporate earnings in the last quarter making a case for investors to make use of the current opportunity in the market and the potential for future growth.
Central Bank’s Economic Research Director Dr. Yuthika Indraratne said the reforms undertaken and development strategies adopted will enable Sri Lanka to achieve the envisaged high growth trajectory.
She also expressed positive sentiments on several economic indicators, including Real GDP growth, which is expected to improve in 2017 and the overall budget balance,which is also expected to improve this year.
Fitch Ratings Lanka MD and Country Head Maninda Wickramasinghe said the development projects presently taking place in the country present a number of opportunities for foreign investors, especially in the context that such projects demand long term financing.
The events also feature several leading Real Estate developments in Sri Lanka in the capacity of event sponsors, including the Colombo Port City (Platinum Sponsor) One Galle Face by Shangri-La Hotels & Resorts (Platinum Sponsor) and the luxury apartment development by Altair (Corporate Sponsor).