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Sri Lanka strives to regain foreign investor confidence

Sri Lanka takes a bold step to reassure foreign investors that the country is reinvigorating its potential as an emerging economy with major mega investment projects in the pipeline.

The Colombo Stock Exchange (CSE) and the Securities and Exchange Commission of Sri Lanka (SEC), recently organized an Invest Sri Lanka Forum targeting Portfolio and direct investors in Singapore.

The forum drew an encouraging response from investors, who were offered an ssessment of the investment climate and expectations for the short-medium term, considering the context of the Easter Sunday attacks that took place on 21 April 2019.

The event was organized in association with the Sri Lankan High Commission in Singapore and supported by the Singapore Business Federation in the capacity of promotional partner.

Asia Securities was the Exclusive Platinum Sponsor of the event, while Sri Lankan Airlines was the Official Travel Partner.

Investors also attended a number of one-to-one and group meetings with Sri Lankan listed companies that travelled to Singapore for the Invest Sri Lanka Initiative.

Among the Sri Lankan participants were Chairmen,Chief Executives and Senior Management representatives of John Keells Holdings PLC, Commercial Bank of Ceylon PLC, Dialog Axiata PLC, Hemas Holdings PLC, Sampath Bank PLC, Peoples leasing and Finance PLC, National Development Bank PLC, Softlogic Holdings PLC, Softlogic life Insurance PLC and Sunshine Holdings PLC.

The event was also supported by the Sri Lankan Stock Brokering community and respective partners based in Singapore, with 8 Sri Lankan firms present at the event.

The CSE and SEC organize “Invest Sri Lanka” Forums among investors based in key financial centers around the world. The forums are conducted in key foreign markets, based on factors such as investment holding, institutional fund manager presence and other trends. The CSE and SEC have previously conducted Forums in the UK, USA, Singapore, Australia, New Zealand, UAE, India, Switzerland and Hong Kong.
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The State Minister of Finance Eran Wickramaratne speaking at the event acknowledged that the events on 21 April were a setback, but noted that all possible steps to ensure national security have been implemented during the past month, including apprehending elements that were responsible for the attacks.

The State Minister also said that Sri Lanka has witnessed overwhelming support internationally from foreign governments, institutions and the international community at-large, who have expressed solidarity with Sri Lanka during recovery and response efforts.

(LI)

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