Sri Lanka hosts Investor Forum in London aimed at channeling foreign capital to capital market
ECONOMYNEXT – The Colombo Stock Exchange (CSE) of Sri Lanka, in association with the Securities and Exchange Commission and nine securities brokerage firms, will hold an Investor Forum in London from March 28-30 to boost foreign investment in the market capital of the island nation.
“The main objective is to attract foreign investment from the Sri Lankan diaspora and foreign funds,” a CSE source told EconomyNext.
Sri Lanka suffered foreign capital outflows worth 50 billion rupees last year due to macroeconomic uncertainty, sovereign debt default and exchange rate risks. It has seen Rs 2.7 billion in outflows so far this year, according to CSE data.
The latest forum in the CSE’s investment tour comes as Sri Lanka grapples with the economic crisis after the rupiah depreciated nearly 32% amid severe currency shortages, lack of commodities essentials, rising interest rates, record inflation, negative returns on fixed income securities and prolonged power outages.
“Sri Lanka remains focused and committed to stabilizing and reorienting the
economy, and to ensure that our nation is on the path to meaningful and
sustainable growth,” organizers said in a statement.
“Sri Lanka is determined to move forward with our reform agenda and our attempt to
become a strong, stable and resilient economy, and an attractive place to do
business.”
“In terms of the stock market, the CSE is trading at a discount to most borders.
markets and builds on promising growth potential among
businesses.
Ajith Nivard Cabraal, the Governor of the Central Bank, will deliver the opening speech at the forum, organizers said.
The Sri Lankan delegation includes the chairmen of the SEC and CSE, senior representatives of the SEC, CSE and brokerage firms. (Colombo/March 13, 2022)
