Nivard to keynote Friday’s Invest SL forum in Dubai

Wednesday, 3 November 2021 00:26 - - {{hitsCtrl.values.hits}}

Central Bank Governor Nivard Cabraal

Central Bank Governor Nivard Cabraal will keynote the ‘Invest Sri Lanka forum’ in Dubai on 5 November organised by the Colombo Stock Exchange (CSE) in association with the Securities and Exchange Commission of Sri Lanka

(SEC). The upcoming event is the first overseas capital market roadshow since the new Government took office.

CSE members and trading members, the Embassy of Sri Lanka, Abu Dhabi and the Consulate General of Sri Lanka to Dubai and Northern Emirates are partnering in the event at the Sheraton Grand Hotel Dubai to promote investment in the Sri Lankan capital market in Dubai, United Arab Emirates.

Sri Lanka’s High Commissioner in UAE Malraj De Silva, SEC Chairman Viraj Dayaratne PC, and CSE Chairman Dumith Fernando will also address the forum apart from Cabraal. All of them will also figure in a panel discussion.

The forum includes technical sessions, which will cover market outlook by CTCLSA Executive Director Research and Strategy Sanjeewa Fernando, presentation on banking and insurance by CAL Chief - Strategies Udeeshan Jonas, and manufacturing and telecommunications sector by SC Securities Head of Research Charitha Gunasekera. A panel discussion involving these experts will follow, moderated by CSE Chief Executive Officer Rajeeva Bandaranaike.

The Colombo stock market has seen massive foreign net outflow since early 2020. Last year, net foreign selling amounted to Rs. 53 billion whilst this year, so far, the figure was over Rs. 46 billion.

Foreign selling is despite the bullish activity by locals, with the market having provided over 50% return year-to-date in terms of movement of the benchmark All Share Price Index (ASPI) and over 48% by the S&PSL20 Index.

Friday’s forum in Dubai aims to woo Lankan expatriates as well as foreign and Middle-Eastern funds operating out of the UAE.

Organisers said upon the post-COVID imperative of accelerated economic revival, Sri Lanka remains focused and committed to stabilising and re-orienting the economy, and ensuring that the country is on a path towards meaningful and sustainable growth.

Previously, CSE-SEC had jointly held Invest Sri Lanka Fora in key foreign markets, including the UK, USA, Australia, New Zealand, UAE, India, Switzerland, Hong Kong, and Singapore