Tuesday May 19, 2026
Tuesday May 19, 2026
Tuesday, 19 May 2026 02:19 - - {{hitsCtrl.values.hits}}
Dr. Binod Chaudhary gestures during his keynote at the Chairman and CEO Forum organised by the Sri Lanka Institute of Directors last Friday – Pic by Upul Abayasekara
By Nisthar Cassim
Nepal’s only Forbes-listed billionaire and longstanding investor in Sri Lanka Dr. Binod Chaudhary last week expressed optimism about South Asia’s island hub, whilst urging the Government to be both flexible and aggressive in harnessing growth potential.
“I have a very special relationship with Sri Lanka. I am a passionate lover of Sri Lanka and a long-term investor. If ever I had to choose to live outside my own country, Kathmandu, it would be Sri Lanka,” declared Dr. Chaudhary during the Chairman and CEO Forum organised by the Sri Lanka Institute of Directors (SLID).
“There are very few countries where I can confidently say there are such distinct characteristics, distinct advantages, a distinct trust factor, and above all, resilience. The country keeps rebounding after setbacks,” emphasised Dr. Chaudhary, whose multibillion conglomerate CG Corp Global has investments in hospitality, financial services, and automobile in Sri Lanka.
The Group globally has interests in FMCG, hospitality, real estate, telecom, cement, power, banking, and education. Its hospitality interest alone includes over 220 hotels in 12 countries, with global giants like Marriott, IHCL (Taj, Taj Safari, Vivanta), DoubleTree by Hilton, and Fairmont.
Billionaire Binod...
“We are great believers in Sri Lankan entrepreneurship,” he added at the SLID Forum, speaking soon after a courtesy call on President Anura Kumara Dissanayake.
“We had several interesting discussions about expanding our current businesses. Hopefully, they will take shape. I came back very encouraged after meeting the President. I think he means business. He wants to support businesses and new investments,” opined Dr. Chaudhary, who is Nepal’s biggest private sector employer, highest tax payer, and the most successful multinational with 202 companies operating in over 30 countries.
He recalled that it was destiny which brought his first investment in Sri Lanka – Taj Samudra during the height of the ethnic conflict in the late 1980s. Thereafter, in 2008, during the East Asian financial crisis, he undertook further investments in the tourism sector.
“But somehow, my heart was already in Sri Lanka and with Sri Lankans. I always believed in the fundamentals of Sri Lanka. I knew it was only a matter of time,” recalled Dr. Chaudhary. He said his last major investment (Union Bank) too was when Sri Lanka suffered its worst economic and political crisis in 2022/23.
During a fireside chat following his keynote, Dr. Chaudhary also had some suggestions for Sri Lanka in its quest to step up growth.
“The global and regional politics are becoming far more complex and challenging. So I think we have got to be more flexible in our approach. The governments need to be far more flexible and agile, open to changes, suggestions. What was relevant probably yesterday may not be relevant today, because of the party philosophy and, you know, inclinations,” Dr. Chaudhary said.
“They need to be reformed. I think that’s what it means, and there is a need for the Government to be seen as, not that I have seen anything contrary to that, as being very aggressive in promoting the private sector. I find that there is still a sense of cautious optimism. Sri Lanka can’t afford to wait. It has to go to the next level. I think there are indications that hopefully that will happen,” he added.
During his remarks, Dr. Chaudhary saluted entrepreneurs of Sri Lanka for whom he has a deep sense of respect.
“Companies are far better than most South Asian counterparts. Their vision is great. Sri Lanka is a great country which has great entrepreneurs, great professionals, and companies. It’s so satisfying,” he said.
