Will capital markets be a game-changer?

Wednesday, 18 June 2014 00:00 -     - {{hitsCtrl.values.hits}}

Sri Lanka has many positive messages as it stands in the midst of a major transformation in its economy and infrastructure and strives to attract foreign investment in the post-conflict period. Whilst a number of initiatives are visible in several areas of the economy and development projects are underway in many parts of the country, an underdeveloped capital market is seen as a serious limitation to Sri Lanka’s ability to achieve an accelerated transformation of the economy and realise its full investment and growth potential. The country’s poor capital market condition has been a subject of discussion and debate for many years. Whilst the financial sector is now moving toward consolidation the capital market continues to lag way behind. The country has a 10 point capital market development plan but its implementation has been wanting. The absence of a robust linkage between the capital market and the economic transformation process poses a tremendous challenge to regulators, investors and market participants in channelling investments to the identified growth segments. Recognising this pressing need to promote capital market development in the country, the Sri Lanka Institute of Directors will be holding a public forum captioned ‘Will the capital markets be a game changer – in channelling investments in the march towards a $ 100 billion economy?’ on 26 June at the Ivy Room, Cinnamon Grand, Colombo. The forum will have SEC Chairman Dr. Nalaka Godahewa, as the keynote speaker and former Director of the Commonwealth Secretariat Economic Affairs Division Dr. Indrajit Coomaraswamy John Keels Holdings PLC Deputy Chairman Ajit Gunewardene and Colombo Stock Exchange Chairman Vajira Kulatilaka as panellists. It will be moderated by JB Securities Ltd. Director/CEO Murtaza Jafferjee. The forum will address the real issues that stand in the way to developing Sri Lanka’s capital market and discuss how these issues could be resolved. For registrations and more information call the SLID Secretariat on 2301646/8 or via email iod@sltnet.lk.