Minister Basil Rajapaksa called upon the Sri Lankans who are employed abroad to contribute towards the future of their families and the country by investing in the Stock Market as the stock market is developing in the country.
" it is not only the affluent class that invests in the stock market. Those who have a business sense can earn the capital from the stock market for their investments. " he said
Sri Lanka’s foreign exchange reserves continued to show a healthy position since 2005. In addition to the garment export earnings and increase in remittances from expatriate Sri Lankan workers, the country received a sudden boost due to influx of hard currency after the tsunami tragedy on December 26, 2004.
According to Central Bank Sri Lanka's gross foreign reserves were 8,050 million US dollars by the end of August 2011.
Plans are under way to increase Sri Lanka’s foreign remittance to reach a staggering US$. 20 billion in a few years. Foreign remittance which is Sri Lanka’s number one foreign exchange earner was at US $ 3.5 billion last year.
He said that those who are employed abroad send large amounts of money into the country. It is the duty of the government to encourage them to invest in such institutions.
Minister of Economic Development was the chief guest at the inauguration ceremony of “Investment Day 2011” at the Sri Lanka Exhibition and Convention Centre (SLECC) on 22 October 2011. The Securities and Exchange Commission of Sri Lanka (SEC) organized this exhibition and seminar series as part of the 25th anniversary of the Securities and Exchange Commission.
The Investment Day 2011 comprised of over 50 stalls from the Colombo Stock Exchange, Stock broking companies, Unit Trust Management companies and top listed companies.
Potential investors visiting the exhibition will be able to get investment advice, discuss investment opportunities with Stock Brokers, open CDS accounts to transact in shares, meet Unit Trust Companies and explore investment opportunities in Unit Trusts.
Mrs. Indrani deleted, Chairperson. Securities and Exchange Commission and Mr. Malik Cader, Director General of Securities & Exchange Commission also participated at this occasion.
Source:http://news.lk/news/business/574-sri-lanka-asks-expatriates-to-invest-in-the-stock-market