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Friday June 18th, 2021
Economy

Invest Sri Lanka to bring 1,000 local and global investors together

ECONOMYNEXT – Sri Lanka plans to bring around 1000 foreign and local investors to a one platform to discuss the potential investment opportunities in the country in an Investment forum 2021, officials said.

“It is in one hand an opportunity for Sri Lanka in spanning the private and public sector listed corporates as well as unlisted corporates’ investment opportunities to be showcase to the world,” Chairman of the Ceylon Chamber of Commerce, Hans Wijesuriya said.

“And on the other hand it is an opportunity for global investors to showcase themselves to the Sri Lanka business community.”

Sri Lanka Ceylon Chambers of Commerce, the Board of Investments and Colombo Stock Exchange is holding a three-day virtual investment forum to inform investors about the potential foreign direct investments as well in listed companies and private equity.

The forum will be conducted virtually from June 07,2021- June 09,2021.
More information will be available on https://invest-srilanka.lk/ .

“We aim to attract 1000 foreign investors to come and participate in this forum representing wide variety of investments,” Wijesuriya said.

“We also aim to put together a funnel of potential investments which is at least five times more of our national target on annual basis.”

The forum will focus on manufacturing, ICT, hospitality and tourism, agriculture and food processing, construction, infrastructure and logistics.

“Why we are doing this is because Sri Lanka is at inflection point,” Chairman of Board of Investments Sanjaya Mohottala said.

“We are looking to double our GDP in the next 10 years. We are around 4000 dollars on GDP per capita. As the country intend to grow 5 – 6 percent post-Covid this creates that investment opportunity comes in once for a country.

He said in the last 6 to 7 months Sri Lanka has taken several initiatives to create a more conducive investment structure with tax relief, investment incentives and de-regulation.

“This conference is to bring in key individual, the policy makers, the industrialists, the key opinion leaders to talk about Sri Lankan economy, policy changes and to give a holistic view to all our investors what a great investment opportunity Sri Lanka is,” Mohottala said.

A pharma zone with pre-environment clearance, tax breaks for pharma companies to strengthen supply chain, a dedicated fabric park to achieve supply chain resilience by localizing raw material imports has been initiated.

The government is to achieve incremental tourism revenue of six billion dollars per annum by 2025.

Sri Lanka intends to strengthen its place as the solid tyre capital of the world with further opportunities for large investments,multiple stock exchanges, airlines, theme parks and banks run on code developed in Sri Lank will be among the attractions, he said.

The event intends to attract direct and portfolio investors including sovereign wealth funds, private equity funds, development finance institutions, large multinationals and conglomerates and high net worth individuals. (Colombo/May27/2021)

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