By: Staff Writer
March 30, Colombo (LNW): Sri Lanka has presented a strong case for investments in its capital markets, urging global investors to participate in the nation’s economic resurgence. Having navigated through recent crises, the country is now positioning itself as an appealing investment destination with promising opportunities.
At the ‘Invest Sri Lanka’ forum held in Colombo, senior officials from key regulatory institutions underscored why this is the ideal time to enter the market. This was the first domestic event of its kind since 2014, with the inaugural forum taking place in 1998.
The event attracted over 100 international delegates and 400 local participants, offering firsthand insights into Sri Lanka’s economic progress since the 2022 crisis, its current standing, and future prospects.
Colombo Stock Exchange (CSE) Chairman Dilshan Wirasekara opened the forum, highlighting the resilience Sri Lanka has demonstrated over the past few years. He noted that despite political instability, the Easter bombings, the COVID-19 pandemic, and the economic crisis, Sri Lanka has managed a significant turnaround.
He emphasized that the country is now at a pivotal moment, presenting an unprecedented opportunity for investors.
Securities and Exchange Commission (SEC) Chairman Professor Hareendra Dissabandara echoed these sentiments, advocating for a new growth strategy that fosters long-term economic stability through market transformation.
He pointed out that Sri Lanka’s recent economic performance has exceeded expectations, highlighting the need for policy consistency and a robust macroeconomic framework to ensure sustainable growth.
“While past recoveries have lacked longevity, this time is different. We have implemented a sound regulatory and macroeconomic policy framework with solid foundations,” he remarked.
Central Bank Governor Dr. Nandalal Weerasinghe reinforced the significance of predictability and price stability, which were previously absent but are now firmly established. Reflecting on the economic crisis, he acknowledged the difficulty of the journey but expressed confidence in the country’s newfound stability.
“We have undergone a tough cycle but have successfully restored stability. The lessons learned will guide us in maintaining a strong and secure financial environment,” Dr. Weerasinghe assured.
The Invest Sri Lanka forum also facilitated regional collaboration by bringing together representatives from Pakistan, Bangladesh, the Maldives, and Nepal. A Memorandum of Understanding (MoU) was signed among the five markets, signifying a collective commitment to enhancing capital market growth and deepening cooperation.
While recognizing India as the dominant regional market, the CSE emphasized that these frontier markets have the potential to collaborate and leverage their strengths to drive mutual growth. With a stable economic foundation and strategic partnerships, Sri Lanka is poised to become an attractive investment hub in the region.
