SEIC 2017 Colombo: An investment seminar to highlight Sri Lanka’s exceptional potential

Sri Lanka Economic and Investment Conclave (SEIC 2017) Organising Committee Chairman Dr. Palitha Kohona, former Ambassador and Permanent Representative of Sri Lanka to the United Nations and former Foreign Secretary, shares some key insights on

Q. What is SEIC 2017 and what are its objectives?

A: SEIC stands for the Sri Lanka Economic and Investment Conclave (SEIC 2017), to be held in Colombo on 28 and 29 November, at the Kingsbury Hotel. It is the first of a series of conclaves that will be held and is designed to highlight Sri Lanka’s abundant potential as an investment destination.  

Foreign investors have endless opportunities in our region in which to place their investments. Our goal is to use this conclave to methodically and in detail explain what Sri Lanka has to offer by way of opportunities to the wide range of interested participants at SEIC 2017, a large number of whom are expected to be from overseas, especially from China. Some are also from Wall Street and London. Simultaneously, we hope that that conclave will facilitate interactions between local businesses and entrepreneurs and the foreign participants to their mutual advantage. The ultimate goal is to benefit Sri Lanka.

Q. What will be the format of SEIC 2017? How will it get its message across?

A: The conclave will contain a range of in-depth analytical presentations on topics of immediate and future relevance to Sri Lanka’s economic development. The conclave will contain a range of in-depth analytical presentations on topics of immediate and future relevance to Sri Lanka’s economic development, especially in the area of foreign investments and to the economies of the countries of the region. Sri Lanka’s Vision 2025, which provides the development architecture of the country for the next seven years, will feature prominently. 

Speakers will explore different aspects of this plan in detail as it sets the framework for our development in the short term. China’s One Belt One Road (OBOR) initiative, which will have a transformative impact on the economies of the vast Asian and African regions, will also be discussed and the opportunities created will be explored. The OBOR backed by China’s massive economic clout, including the Asian Infrastructure Investment Bank, creates huge opportunities for the entire region, especially for Sri Lanka, which as a country could be said to be unfairly endowed by nature, sitting in the middle of OBOR’s focal region.

Q. Who is expected to participate in SEIC 2017? What is the extent of overseas participation?

A: Underlining the region-wide interest, SEIC 2017 is being organised with the endorsement of the Federation of Industry and Commerce of China, the Colombo Chamber of Commerce and the Indian SME Chamber of Commerce. 

The participants will hail from New York, London, Geneva, Dubai, India, Russia and China among countries. The biggest contingent of participants will be from China and the Chinese participants are expected to represent a range of business (and industrial) interests. Three Chinese speakers, along with four from Wall Street, New York, will address the conclave.

Special efforts will be made to make them feel welcome, including through the provision of dedicated interpretation services. A significant number of local businesses have also requested the opportunity to participate in SEIC 2017. The organisers of the event, Hairong International, Trive International and Opportunity Sri Lanka will make every effort to facilitate interactions between the Sri Lankan businesses present and the overseas participants.

Q: Who is behind SEIC 2017? Is it being supported by the Government?

A: SEIC 2017 is essentially a private sector initiative responding to a need of the times and is being hosted by HAIRONG Investments International, TRIVE International and Opportunity Sri Lanka. The hosts have not requested direct government assistance on this occasion but as the speakers’ list indicates, a number of high level government officials will lend their knowledge and experience to make the event a success. 

President Maithripala Sirisena, who will be away overseas, has agreed to send a message through a senior Minister, Dr. Sarath Amunugama. Similarly, we expect the event to be graced by other high-level Government personalities. The private sector has been particularly active in the organisation of the event. A number of leading Sri Lankan corporates will sponsor the event, including the Colombo Stock Exchange.

Q: Which areas of Sri Lanka’s economy are likely to attract the interest of the participants?

A: The potential investors participating in SEIC 2017 have a wide range of interests. SEIC 2017 will highlight Sri Lanka’s potential as a financial, shipping, knowledge, IT and aviation hub among other things. 

Sri Lanka’s potential as a holiday destination, a sought-after tourist Mecca, will also be emphasised, drawing attention to the opportunities in the hospitality industry. Already the country is attracting a record number of visitors, with those from China having increased by 16% last year (The total number Chinese visitors exceeded 237,000 in 2016). 

Sri Lanka with its 2,000-year historical links with China, especially its substantive links through Buddhism, amazing archeological sites, wildlife and nature, the unspoilt beaches, friendly people has an unparalleled opportunity to attract a significant portion of the 137 million Chinese who took their holidays overseas. 

This number will continue to grow. We need to position ourselves better to benefit from the pent up Chinese urge to see the world. Steps are being taken in the right direction. A Sri Lanka-China Culinary Association was inaugurated last week. Guides are beginning to be trained in the Chinese language. But more needs to be done especially in the transport, restaurant, payments and guides sectors creating more investment opportunities.

Q: Will SEIC 2017 address Sri Lanka’s debt situation?

A: Not directly but we take the view that by encouraging a greater inflow of FDI, of more exports, etc, SEIC 2017 can make a contribution to addressing the debt issue. If we are successful in attracting investment funding, as we must be, debt financing will become easier to manage.

We are expecting that the visiting business groups will develop contacts with their Sri Lankan counterparts. The possibilities are immense. What is important is to make connections, identify commonalities and develop business relations. 

As the organisers, we will facilitate developing connections of this nature as much as possible, including through the provision of interpretation services. We will engage a number of Chinese and English speakers to facilitate these interactions.

Q. How will interested investors access possible investment opportunities in Sri Lanka?

A: The potential investors are welcome to consider formulating any proposal but subject to the laws, regulations and policies of the country. There will be Sri Lankan experts at SEIC 2017 who will gladly share their knowledge and expertise. We will provide the necessary facilitation to make connections in this regard as many of the visitors will be new to the country. 

In fact, one of the sessions with deal with Sri Lanka’s regulatory framework. We hope that this session will create awareness on our own part about the possible difficulties and bottlenecks faced by the investor community, helping our side to iron out any wrinkles. We will also hope that SEIC 2917 will provide the opportunity to explain the facilities extended by the new budget to foreign investors.



Speakers

The opening ceremony of SEIC 2017 will be held at 4.00 p.m. on 28 November, and will be compered by Lindsay Ashby - former Chief of Staff of the World Energy Forum. The opening remarks and welcome will be delivered by host Dr. Kohona. 

A range of exciting topics will engage the audience at SEIC 2017. The first segment of the conclave will focus on the ‘World Economic Outlook and Implications for Sri Lanka and Economic and Opportunities in Sri Lanka’. The key presentation in this segment will be delivered by the Governor of the Central Bank, Dr. Indrajit Coomaraswamy. The other presenters will include Xiong Meng of the Federation of Industry and Commerce of China, who will speak on the importance of China’s One Belt One Road initiative to the region and in particular Sri Lanka. Thilan Wijesingha and Dr. Asanga Gunawansa will explore the key economic attractions and investment opportunities of Sri Lanka.

The keynote address will be delivered by the Minister of Megapolis Development Champika Ranawaka, who will outline emerging investment opportunities in the proposed Megapolis and the harbour city which is expected to make a dramatic impact on Sri Lanka, economically and socially. A cocktail will follow, during which there will be video presentations by companies participating in the seminar. Colombo Stock Exchange CEO Dr. Rajeev Bandaranayaka will talk about investments, challenges and opportunities. Galle Face Hotel Chairman Sanjiv Gardiner will talk about sustainable investments, with a focus on tourism.

The presenters on 29 October will include Dr Harsha de Silva - Deputy Minister of Policy Planning and Economic Development and the Eran Wickremaratna - State Minister of Finance.

The seminar will cover ‘Opportunities, challenges and risk mitigation: which sectors of Sri Lanka’s markets have delivered in 2017 and the outlook for 2018?’ It will also focus on the key ingredients to real value-creation. Vision 2025, the seven-year plan, will also be featured in the discussion. 

The speakers will include Alex Lovell (Union Bank), Rawana Wijeratna (Sinhaputra Finance) and Dr. Harshana Uduwana (Dealogic, New York), ably guided by former Member of the Commons and the current MEP, Niranjan Devaditya. 

The next presentation will be on ‘Private Investments in Sri Lanka: Challenges and Opportunities’, which will be moderated by Coral Plc Group CEO Rohantha Athukorala. The speakers will include Kapruka Chairman Dulith Herath, Moneyworkz and Technologies Founder/CEO Jayamin Pelpola and Stock King Capital (New York) President Roshan Perera. The next presentation the will be on Sri Lanka’s hot sectors and specific investment opportunities, which will also include the Megapolis, Port City, Tourism, Hambantota, light rail, real estate, etc. and public-private sector partnerships. These items will be covered by Prof. Daniel Khan (London), Roman Scott (Calamander Group), Jason Plucinak (GWG Holdings, New York), and Pan Liong (Hairong Holdings).

A highly interesting segment for all participants will be ‘Gateway to India’ explored by the President SME Chamber of India, Chandrakant Salunkhe, Dr. Harsha de Silva - Deputy Minister of Policy Planning and Economic Development and Eran Wickremaratna - State Minister of Finance. The Regulatory Framework Applicable to Foreign Investors will be covered by Wang Ming - President Zhonglehui Celebrity Club; Dr. Rajan Amarasuriya - Senior Lecturer; Renu Wijegunawardena, Chandana Ranasingha, UDA, and this segment will also cover PPPs, state-owned enterprises, repatriation of profits, dividends, wages, etc, 

The final presentations will be on ‘Sustainable Investment: Challenges and Opportunities’, led by Christine Kampinga, formerly, J. P. Morgan, Netherlands, and assisted by Brandix CEO Ashroff Omar, CEO Abraj Capital, Nissanka Wijesekara and Galle Face Hotel Chairman Sanjeev Gardner.

A gala dinner will be hosted at the Galle Face Hotel. The vote of thanks will be proposed by Attorney-at- Law, TRIVE International Director Janaka Basuriya.

the two-day event opening tomorrow in Colombo.