Lankapage Logo CP 18 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka looking to tourism and logistics as growth drivers - CSE chairman
Mon, Mar 20, 2017, 01:14 pm SL Time, ColomboPage News Desk, Sri Lanka.

Mar 20, Colombo: Sri Lanka is following growth model based on private sector investment and exports and looking to tourism and logistics as growth drivers, the Chairman of the Colombo Stock Exchange Vajira Kulatilaka says.

In an interview with the CNBC, CSE Chairman said while tourism is one area of possibility for growth Sri Lanka is also taking advantage of its unique location in the Indian Ocean. Since many shipping lanes from east to west are around Sri Lanka and many ships have to pass through the island increasing the logistics activities, developing ports around Sri Lanka is the other possibility, he explained.

Also Sri Lanka has also has a very big advantage of being next to India, the fastest growing largest economy in the world, he said.

Speaking about the openness of the stock market, the Chairman said there are some deregulations that has to take place but openness with regard to bringing in money and taking back is already there and it is guaranteed by the constitution itself.

"You can bring in money, no questions asked," he said adding that however, openness regarding the amount of instruments available, the market has to "achieve a lot."

One area the market is trying to develop is to bring the risk down, such as introducing the Counterparty Guarantee system and introducing derivatives after that to expand the instruments available in the market.

 


ColomboPage - Recent 10 Stories ::
President apprises UN human rights chief of Sri Lanka's progress on reconciliation
-- [1 hour and 51 minutes ago]
Sri Lanka Police launch new system to catch errant drivers
-- [2 hours ago]
Sri Lankan woman nabbed attempting to smuggle gold worth over Rs. 1.5 million
-- [3 hours ago]
Sri Lankan President visits Niagara Falls
-- [3 hours ago]
Speaker endorses Provincial Council Amendment Bill, instructs to hold PC elections before January and LG elections before March
Prime Minister says can't allow the extremists to ruin the final opportunity for a political solution
Governors to administer provincial councils ending terms this month until election
Sri Lanka Navy training program on preventive medicine and causality care with U.S. Marines concludes
Wholesale prices of imported potatoes and big onions decline
Special Parliamentary sitting on October 3 to mark 70th anniversary of Sri Lanka parliament

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.