Sri Lanka Tourism exhibits at Real Estate Finance Summit in London

Tuesday, 13 December 2011 00:26 -     - {{hitsCtrl.values.hits}}

International Consultants Chairman Ranjiv Goonawardena had kindly invited the Sri Lanka Tourism Promotion Bureau to participate by showcasing the great opportunity that Sri Lanka has to offer, at the Islamic Real Estate Finance (IREF) Summit and Gala Dinner Awards Ceremony of which it was a sponsor.

International Consultants sponsored for the second year the ninth annual Islamic Real Estate Finance (IREF) Summit which took place on 30 November at the Jumeriah Carlton Tower, Knightsbridge.

With constant support from major players in the industry as well as focusing on bringing the most current international real-estate issues which are affecting the conventional and Islamic financial sphere. The event was attended by captains of Industry, Commerce and Financiers (Chairmen, CEOs, CFOs, and Senior Directors from USA, Europe, and Arab States of the Gulf.

According to International Consultants Chairman Ranjiv Goonawardena, ‘‘Sri Lanka and Sri Lanka Tourism in particular has great future emerging from a decades-long civil war, and is enjoying an economic revival. It is currently the second-fastest growing Asian economy after China, a fact not lost upon the IMF, which recently upgraded Sri Lanka to middle income emerging market status. Like Brazil, Sri Lanka enjoys an adult literacy rate of just over 90%. Sri Lanka s gross enrolment ratio, which gives an indication of school attendance, is also comparable to that of China.”

 ‘‘What is particularly noteworthy of Sri Lanka s growth is the narrowness of its gender gap. In the Global Gender Gap Report 2010 published by the World Economic Forum, which measures gender-based disparities on economic, political, education and health-based criteria, Sri Lanka ranked within the top 20, the only South Asian country to do so. Closing the gender gap is not just an issue of gender equity it is also one of harnessing the current human resource potential, and uplifting the potential of the next generation. The most important determinant of a country s competitiveness is its human talent the skills, education and productivity of its workforce. In any country, women account for half of the current talent base and have a key role in nurturing the next generation,’’ he added.

This is a great time to showcase Sri Lanka to the entire world because of the following good news:

The Happy Planet Index (HPI) is an index of human well-being and environmental impact. Sri Lanka is ranked 22nd out of 143 countries, the UK 74th and USA is 114th place.

The World Giving Index (WGI) was compiled by the Charities Aid Foundation, ranked 153 countries in the World according to how charitable giving their populations by country: who is the most generous, Sri Lanka is ranked eighth.

According to the International Monetary Fund list of countries Sri Lanka is ranked 9th position in the world with a GDP rate of 9.1When the UK is ranked 146th in the world with a GDP rate of 1.2. USA is ranked116th in the world with a GDP rate of 2.8.  In Asia Sri Lanka is the 5th fastest growing in the region.

Surprisingly the fastest growing exchanges is Colombo Stock Exchange – Sri Lanka (133%), Osaka Stock Exchange Japan (77.9%) followed by Philippines, Indonesia and Thailand.

Sri Lanka achieved a credit ratings upgrade by Fitch to BB-, and both the Moody’s and S&P ratings were improved to positive outlook

Sri Lanka’s international sovereign bond for US Dollars was oversubscribed more than seven times. Sri Lanka Tourism, British Sri Lanka Chamber of Commerce and The Sri Lanka High Commission were represented at this forum that attracted a lot or Middle and Far Eastern investors and financiers.

Commenting on the event Sri Lanka Tourism in UK Director Sanjika Perera said: ‘We are privileged to be participating in this event where we are able to promote Sri Lanka as an emerging Tourism hotspot and also create interest amongst the investment community to attract much needed investment towards Sri Lanka.”

International Consultants is a consultancy and brokering hybrid of a private equity and a corporate finance group, and is a special purpose vehicle (SVP) focusing on emerging markets, 75% of their work is international (mainly Pan-Africa, and Asia). There are three elements to the business.

These include: researching actively for projects with investment potential; recruiting principal shareholders, syndicating finance to other financial institutions; and acting as advisors to corporations and governments to develop strategies and solutions. The minimum project size would be £100 million.

The majority of the company’s expertise is in Corporate Finance: mergers and acquisitions, including domestic and cross-border transactions; privatisations; corporate fund raising; flotations; financial restructuring; general financial advice; domestic and cross-border mergers and acquisitions; divestitures; special committee assignments; takeover defences; corporate restructuring; and strategic partnerships/joint ventures; business cost reduction techniques; business development enhancement management skills to increase organisational profitability and other advisory work. International Consultants advise on multifaceted topics such as, sustainable development, attracting, direct foreign investment, oil and gas, internet/e-commerce, telecommunication, legal, media, technology, utilities, financial and investments.