The Investor Sentiment - Equity and investments forum for Sri Lankans
Search
 
 

Display results as :
 


Rechercher Advanced Search

Latest topics
» DOCK.N0000 (COLOMBO DOCKYARD PLC)
Today at 3:43 am by Jana1

» LLUB.N0000 (CHEVRON LUBRICANTS LANKA PLC)
Yesterday at 7:34 pm by sashimaal

» Dividend Announcement
Yesterday at 5:43 pm by Ethical Trader

» ඊ.ටි.අයි ෆිනෑන්ස් විකිණිමට මහ බැංකුවේ අවසරය
Tue May 22, 2018 9:43 pm by Ethical Trader

» Theory of Everything
Tue May 22, 2018 9:21 pm by Ethical Trader

» Elsewhere vs SL : Honesty, Social responsibility , Word twisting and Decency
Tue May 22, 2018 8:53 pm by Yin-Yang

» Whats ailing Sri Lanka ? Why we are what we are!
Tue May 22, 2018 6:02 pm by Yin-Yang

» Karl Marx and the Social Sciences
Sun May 20, 2018 11:25 pm by Backstage

» Your Face Is Now in a Database
Sun May 20, 2018 10:47 am by කිත්සිරි ද සිල්වා

» ජපානය: තත්පර විසිපහකට පෙර දුම්රිය පිටත් වූවාට 'සමාවෙන්න'
Fri May 18, 2018 10:10 pm by Ethical Trader

» Sri Lanka still good for global equity investors
Tue May 15, 2018 6:42 pm by Ethical Trader

» Thilak Karunaratne No More at SEC – Mangala Confirms
Tue May 15, 2018 12:48 pm by Ethical Trader

» Cartoon of the day...
Tue May 15, 2018 12:38 pm by Ethical Trader

» How to Mismanage a World
Tue May 15, 2018 12:31 pm by කිත්සිරි ද සිල්වා

» How the British Learnt to Speak Sinhala
Tue May 15, 2018 1:10 am by slstock

» රත්‍රං ආනයන සීඝ්‍රයෙන් ඉහළට – වෙළෙඳ හිඟය තවදුරටත් පුළුල් වෙයි
Mon May 14, 2018 5:53 pm by Ethical Trader

» ඇඟලුම් අපනයන ආදායම – ඇමරිකාවෙන් පහළට යුරෝපයෙන් ඉහළට
Mon May 14, 2018 5:52 pm by Ethical Trader

» බැඳුම්කර විදෙස් ආයෝජන ඉවතට – පෙබරවාරියේ දී ඩොලර් මිලියන 55 ක ශුද්ධ ගෙවීමක්
Mon May 14, 2018 5:51 pm by Ethical Trader

» Flying is the Safest mode of Transport
Mon May 14, 2018 5:49 pm by Ethical Trader

» Student presents thesis in underwear !
Mon May 14, 2018 5:38 pm by Ethical Trader

» In the Meantime, Within Our Shores !
Mon May 14, 2018 1:03 pm by slstock

» රුපියල බේරගන්න ඩොලර් මිලියන 100 කින් මහ බැංකුව මැදිහත් වෙයි
Mon May 14, 2018 1:00 pm by slstock

» Hello and CSE ?
Mon May 14, 2018 12:17 pm by slstock

» LIOC.N0000 (Lanka IOC PLC)
Mon May 14, 2018 11:51 am by CK

» රටේ දේශපාලන ස්ථාවරත්වය ගැන මහ බැංකු අධිපතිගේ මතය මෙන්න
Sat May 12, 2018 12:18 pm by nihal123

» Sri Lanka rupee close flat after US$136mn interventions,stocks steady
Fri May 11, 2018 7:21 pm by The Invisible

» Sri Lanka's rupee showings signs of stabilizing: Central Bank
Fri May 11, 2018 7:17 pm by The Invisible

» Sri Lanka's central bank caught between peg and a hard place
Fri May 11, 2018 7:15 pm by The Invisible

» Sri Lanka to re-price fuel every two months on formula
Fri May 11, 2018 7:11 pm by The Invisible

» ඩොලර් රුපියල් සටන
Fri May 11, 2018 5:39 pm by Ethical Trader

» Age is just a number
Fri May 11, 2018 2:38 pm by කිත්සිරි ද සිල්වා

» Citizen Police Action
Fri May 11, 2018 8:33 am by කිත්සිරි ද සිල්වා

» In every five minutes
Wed May 09, 2018 8:00 pm by spw19721

» ASIY.N0000 (ASIA SIYAKA COMMODITIES PLC)
Wed May 09, 2018 8:06 am by yellow knife

» Sri Lanka's Sampath Bank March 2018 quarter net profit up 41.4-pct
Fri May 04, 2018 8:15 pm by The Invisible

» Sri Lanka rupee gains from intervention, stocks down 0.26-pct
Fri May 04, 2018 8:11 pm by The Invisible

» Help CSE to catch manipulators!
Fri May 04, 2018 5:21 pm by Ethical Trader

» Yahapalanaya in action.
Fri May 04, 2018 4:54 pm by Ethical Trader

» COMB, HNB, SAMP, SEYB, PABC, UBC, NTB, DFCC & NDB
Fri May 04, 2018 11:47 am by The Invisible

» ජනාධිපති කාර්ය මණ්ඩල ප්‍රධානියා අල්ලස් දැලේ
Fri May 04, 2018 6:02 am by Ethical Trader

» Sri Lanka rupee gains after intervention, stocks marginally up
Thu May 03, 2018 10:12 pm by The Invisible

» Sri Lanka's glyphosate ban cost Rs35bn in crop losses: farm managers
Thu May 03, 2018 10:10 pm by The Invisible

» මූල්‍ය නොවන රාජ්‍ය ආයතනවල නොපියවූ ණය රු. බිලියන 844 ඉක්මවයි
Thu May 03, 2018 2:52 pm by Rana

» අර්ථසාධකේ ආයෝජන ආදායම 15% කින් වැඩිවෙද්දී ලාභාංශ ආදායම 30% කින් අඩුවෙලා
Thu May 03, 2018 2:48 pm by slstock

» Sri Lanka political uncertainty seen undermining investor confidence: Fitch
Thu May 03, 2018 12:33 pm by Ethical Trader

» ලෝක ශ්‍රේණිගත කිරීම්වල ශ‍්‍රී ලංකා පිල ඇෆ්ගනිස්තානයටත් වඩා පහලට ඇද වැටේ..!
Thu May 03, 2018 9:22 am by කිත්සිරි ද සිල්වා

» Food and Beverages
Thu May 03, 2018 8:14 am by yellow knife

» Obituary Notice.
Tue May 01, 2018 9:47 am by Backstage

» EPF follows streamlined methodology in investing in CSE and Unit Trusts
Tue May 01, 2018 9:28 am by Backstage

» Sri Lanka's central bank kills Rs19bn in printed money, supporting rupee
Sat Apr 28, 2018 9:54 pm by nihal123

May 2018
SunMonTueWedThuFriSat
  12345
6789101112
13141516171819
20212223242526
2728293031  

Calendar Calendar

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Govt. woos investments from global fund managers

Go down

Govt. woos investments from global fund managers

Post by sashimaal on Thu May 04, 2017 2:59 pm

By Nisthar Cassim

Finance Minister Ravi Karunanayake yesterday lured a group of global fund managers gathered in Colombo, saying Sri Lanka is now an ideal opportunity to “invest and live” in tandem with improving governance and fiscal discipline.

“Ours is a government with great financial discipline and committed political leadershipto integrate to the world with greater access to global market to steer higher socio-economic development, ”Karunanayake told a group of foreign fund managers and institutional investors from Asia, Europe and the US who converged in Colombo for the three-day CT CLSA Asia Frontier Forum 2017.

“The new Sri Lanka is an ideal opportunity to invest and live here. Your investments are safe and will give returns which no other can provide,” the Finance Minister added. To substantiate his assertion of improving financial discipline, Karunanayake revealed that when the new coalition Government took office, the country had a Budget deficit of 7.2% of GDP and last year the deficit target was 5.7% but it was bettered by achieving a deficit of 5.4%.

“The goal for 2017 is a Budget deficit of 4.7% but I believe we will reduce it to 4.5%. It is likely that the 2020 goal of 3.5% deficit will be achieved one year earlier i.e. 2019,” Finance Minister Karunanayake said.

He noted the Government went for the $ 1.5 billion Extended Fund Facility with the IMF “not because we had a Balance of Payments problem” but to instilfinancial discipline and thereby enhance foreign investor confidence.

Improvement in revenue collection too was emphasised from 10.2% of GDP in the past to 14.8% last year, with plans to further increase it to 15.6% this year. With regard to debt servicing, the Finance Minister said: “We are not out of the woods yet but we are in a comfortable zone.”

He recalled that when the Government took office public debt was Rs. 8.9 trillion,“but when actual liabilities were computed, it was Rs. 10.4 trillion”.

“We have also ensured best use of expenditure,” he said, adding the way forward will be Public-Private Partnerships with a great role for the private sector. The investor forum was also updated on the commercialisation program of non-strategic investments/enterprises via the Colombo Stock Exchange.

The Finance Minister said Sri Lanka’s access to global markets was being enhanced with enhanced economic cooperation with India and Pakistan, Free Trade Agreements with China, Singapore, Thailand, Korea and Japan. He said due to these preferential trade arrangements foreign investors could tap a market of over two billion via Sri Lanka. Progress on the establishment of an International Financial Centre was also briefed.

“Exports will be boosted with Sri Lanka regaining GSP Plus in Europe after eight years. This confirms the growing confidence from the West on meaningful change in democracy in Sri Lanka since the change of government on 8 January 2015,” Karunanayake emphasised.

He also maintained that Sri Lanka has embarked on clean government with no entry cost for doing business as opposed to 10-15% and political patronage previously. However, he noted that in pursuit of “7-star democracy” there could be delays. This was in reference to finalising the Sri Lanka-China PPP on Hambantota Port.

The Finance Minister pointed out that he was encouraged by the rising foreign portfolio investment into the stock market as well as inflows to the Government securities market. “Right now there is good value in the equities market,” he added.

During his speech, the Finance Minister thanked CT CLSA Advisor Marianne Page for “standing by Sri Lanka and for being one of the greatest promoters of the country”.

Some of the issues raised by fund managers and institutional investors included taxation policy concerning sectors such as banking, alcohol and tobacco, restrictions on the foreign ownership of land, progress and finality of the Chinese investment on Hambantota Port and industrial zone and the state of the East Terminal in the Colombo Port as well as expansion of Sri Lanka’s access to global markets.

- See more at: http://www.ft.lk/article/613020/Govt--woos-investments-from-global-fund-managers#sthash.A53DN77D.dpuf
avatar
sashimaal
Top contributor
Top contributor

Posts : 5598
Join date : 2014-02-28

Back to top Go down

Back to top


 
Permissions in this forum:
You cannot reply to topics in this forum