Investor’s love for Sri Lanka – Binod Chaudhary

Chaudhary is a serial investor and has taken a special affinity for Sri Lanka

By Business Analyst

Binod Chaudhary, Nepal’s pioneering entrepreneur and Chairman of CG Corp Global, first set foot in Sri Lanka during one of its most challenging chapters—the height of the civil war. From that bold beginning, he has never looked back. His relationship with Sri Lanka has grown into something far deeper than commercial interest: a long-standing partnership grounded in trust, resilience, and belief in the country’s future. 

Over the last three decades, Chaudhary’s investments and philanthropy have reflected a steadfast commitment to the island’s progress—even amid war, political instability, economic collapse, and global crises. His Sri Lankan journey, marked by strategic foresight and an unshakable personal commitment, stands as a compelling blueprint for other high-net-worth investors seeking long-term, values-driven engagement. His ability to identify opportunities where others see only risk remains one of his greatest strengths.

Hospitality: Building foundations amid uncertainty

Chaudhary’s Sri Lankan story began in 2001 with his investment in the Taj Samudra Colombo—a landmark partnership with India’s Taj Group. This venture, launched during the waning years of the civil war, was a bold vote of confidence in the country’s tourism potential and its path to peace. Rather than retreating during crises, Chaudhary doubled down. Through CG Hospitality, he expanded his footprint to 14 properties in collaboration with Jetwing Hotels and the Ceylon Hotels Corporation. These properties span key tourism destinations including Colombo, Kandy, and Bentota. His resilience was further tested after the 2019 Easter Sunday bombings and again during the COVID-19 pandemic. Yet, by 2022, CG Hospitality’s Sri Lankan portfolio had grown to over 1,500 rooms—demonstrating a strong counter-cyclical strategy and long-term view (BW Hotelier, 2022; Daily News, 2022).

Banking and economic resilience

Chaudhary’s confidence in Sri Lanka extends beyond tourism. In 2023, CG Corp acquired a majority stake in Union Bank of Colombo. This strategic investment came during a time of a grave economic crisis and was aimed to modernise the operations of the bank and expanding digital banking services. His move reflected a belief in the country’s entrepreneurial base and future growth potential. By 2025, Union Bank had reported a 20% increase in lending to small and medium-sized enterprises (SMEs)—a critical sector for economic stability and job creation amid crisis recovery.

Philanthropy with purpose

Through the Chaudhary Foundation, his commitment to Sri Lanka has extended in a meaningful social impact. After the 2004 tsunami, the foundation rebuilt schools in Galle and Matara, benefiting over 2,000 students. During the 2016 floods, it provided emergency aid to over 5,000 affected families. In the wake of the pandemic, it launched vocational training programs for 1,500 youth, focusing on hospitality and IT—sectors aligned with Sri Lanka’s evolving economic needs (CG Corp Global).

A vision for Sri Lanka’s future

Chaudhary frequently underscores Sri Lanka’s strategic location in the Indian Ocean, its 92% literacy rate, and rich cultural heritage as core assets. “Sri Lanka’s resilience is unmatched. Its educated workforce and geographic advantage will drive its resurgence,” he said in a 2022 interview (Business Standard). He has also been a vocal advocate for increased Nepali and Indian investment in Sri Lanka, particularly in the areas of manufacturing, tourism, renewable energy and technology. His belief in regional cooperation and e-commerce has encouraged many to look at Sri Lanka through a fresh lens.

Staying the course

While many foreign firms exited during Sri Lanka’s 2022 debt crisis, CG Corp reaffirmed its commitment by announcing an additional $ 50 million investment in tourism and infrastructure. In partnership with Sri Lanka’s largest listed conglomerate, John Keells Holdings PLC (JKH), CG Corp is also introducing cutting-edge new energy vehicles (NEVs) from BYD to the local market—demonstrating a forward-looking approach to innovation. In contrast to short-term, profit-driven strategies, CG Corp has advanced a plan to upgrade eight new hospitality properties outside Colombo. Chaudhary’s approach underscores long-term partnerships with local communities and institutions. His model of “realistic capitalism”—where investment serves a broader purpose—proves that profitability and social impact can coexist.

For Sri Lanka, his continued engagement is more than financial—it is symbolic. It represents belief, continuity, and the transformative power of shared growth. As Chaudhary once said, “Sri Lanka is not just a market; it’s a second home where we grow together.” At a time when the country is rebuilding its economy, such allies are invaluable. His willingness to invest when others retreat offers a compelling example for both Sri Lankan entrepreneurs and global investors seeking sustainable business opportunities.

References:

BW Hotelier, 2022. CG Hospitality’s Expansion Strategy in South Asia.

Business Standard, 2022. Binod Chaudhary on Sri Lanka’s Economic Potential.

Daily News, 2022. Tourism Revival and Foreign Investment Post-Pandemic.

CG Corp Global. Chaudhary Foundation Annual Report, 2023.

Foreign investors and firms that stood with SL through thick and thin – FT.lk