CCC's Economic Summit to look at investing in Sri Lanka

The Sri Lanka Economic Summit will be held in Colombo from 10 to 12 July. The event organised by the Ceylon Chamber of Commerce for the thirteenth year will have a number of sessions examining diverse issues related to the country’s economy. 

KPMG Sri Lanka Partner  Head of Tax Premila Perera

The seventh session of the Summit to be held on the 12th of July will examine investing in Sri Lanka. The Government’s development framework envisages raising average GDP growth to above 8% in the medium term and it is estimated that annual investments would have to increase to about 35% of GDP to sustain growth at the envisaged level. With Public sector investments having to be restricted to 6-6.5% of GDP, the remainder has to be generated by the private sector. 

In 2011 Private sector investments was estimated at 23.7%. The Government introduced substantive reforms to the taxation structure in Sri Lanka with the national Budget for 2011 which was intended to simplify the tax system and ease businesses. With the 2012 Budget several tax incentives have been introduced to encourage investments. The Board of Investment has also been restructured recently. There has been significant investor interest with re-establishment of peace and the session is intended to discuss opportunities for investment. 

KPMG Sri Lanka Partner/Head of Tax Premila Perera will make the main presentation at this session informing the participants of the tax incentives provided when investing in Sri Lanka.  

The presentation will be followed by a panel discussion by BOI Chairman/Director General M. M. C. Ferdinando, National Physical Planning Department Director General Lakshman Jayasekara, PATA Chairman Jetwing Hotels Ltd Hiran Cooray, Colombo Stock Exchange Chairman Krishan Balendra, Hemas Holdings CEO Hussein Esufally, Holcim (Lanka) Ltd CEO Stefan Huber and Hayleys Senior Economist Deshal de Mel. The session will be moderated by PricewaterhouseCoopers Deputy Leader and Head of Markets Sujeewa Mudalige. 

For more information visit www.chamber.lk and for registration for the Sri Lanka Economic Summit 2012 contact the Ceylon Chamber of Commerce on + 94 112328880 or [email protected].