21 Feb, 2013, 06.48PM IST, PTI
MUMBAI: Sri Lanka today invited Indian
business community to look at investment opportunities in its sectors such as
ports, tourism and financial services.
"Sri Lanka is now the fastest
growing economy in South Asia. With
impressive growth expected in key sectors such as ports, tourism, real estate, financial services and
outsourcing industry, this is the most propitious time for existing and
potential investors to capitalize on the business and investment
opportunities," Central Bank of Sri Lanka Governor
Ajith Nivard Cabraal told reporters here.
"We are looking at India based and
offshore funds to invest in Sri Lanka," Cabrall
said on the sidelines of investors forum 'Invest Sri Lanka'.
Sri Lankan economy is growing at 7-8 per
cent per annum and we are looking at higher growth. The government also plans
to allow private sector to raise foreign funds.
Commenting on FDI, Cabrall said, Sri
Lanka's attractive investment climate has helped the country capture
substantial FDI inflows.
The recent relaxation of exchange control
regulations should boost FDI inflows. The government
is confident of achieving an FDI target of USD 1.5
billion in 2013, he said.
Nalaka Godahewa, Chairman, Securities and
Exchange Commission of Sri Lanka (SEC) said, "Sri
Lankan economy has been on the upswing following the end of the civil strife in
mid-2009.
"To capitalize on the country's strong economic growth trajectory, the Securities and Exchange Commission of Sri Lanka is taking major steps in capital market development and regulation to increase investor confidence in the islands' financial market."
"To capitalize on the country's strong economic growth trajectory, the Securities and Exchange Commission of Sri Lanka is taking major steps in capital market development and regulation to increase investor confidence in the islands' financial market."
"With accelerating growth prospects
and great diversification opportunities, Sri Lanka is emerging as a promising
destination for foreign investors, as it offers higher returns than investments in developed countries whose
economies are slowing down," Godahewa said.
Krishan Balendra, Chairman, Colombo Stock Exchange (CSE), said, "The market
has grown significantly in value in the last 3 years. Foreign participation has
increased with unprecedented net foreign inflows in 2012. Given the post
conflict growth prospects for the economy, the market is poised to see
sustained growth going forward."
The Colombo Stock Exchange (CSE) operates
the only share market in Sri Lanka. The CSE is
licensed by the Securities and Exchange Commission of Sri Lanka (SEC) and it is
taking concrete measures to increase free float and market depth in order to
improve investibility, Balendra said.
