FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka


Submit PostSubmit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post



Latest topics

» Related party transactions in Banks cause concerns
by ChooBoy Yesterday at 10:59 pm

» Daily Foreign Transactions
by Pradeep90 Yesterday at 10:24 pm

» Japanese money laundering via PABC Bank raise CB eye brows
by Lotus Eater Yesterday at 9:34 pm

» Principal governmental and regulatory policies that govern the banking sector in Sri Lanka
by Lotus Eater Yesterday at 9:18 pm

» Ban of chemical fertilizers is a great news
by ADVENTUS Yesterday at 6:29 pm

» DIPD/HAYC/HAYL
by ADVENTUS Yesterday at 1:11 pm

» Peoples leasing technically positive Target Price Rs 20
by Eranx Yesterday at 11:30 am

» PEOPLE'S LEASING & FINANCE PLC
by Eranx Yesterday at 11:29 am

» "MFL" DEAL to 12 RS (multi finance plc)
by Bakka1988 Thu May 06, 2021 11:22 pm

» FUTURE of BROWNS INVESTMENT PLC (BIL)
by ONTHEMONEY Thu May 06, 2021 11:21 pm

» GLAS will be winner with Super Gain.
by Promoney Thu May 06, 2021 10:30 pm

» What happens in the market is absolutely 100% out of your control. Stock market for beginners
by Asoka Samarakone Thu May 06, 2021 9:45 pm

» Synergies of possible merger between Sampath Bank and PABC
by CHRONICLE™ Thu May 06, 2021 5:42 pm

» ACCESS ENGINEERING ( AEL.N )
by ADVENTUS Thu May 06, 2021 1:50 pm

» Prime Lands Residencies Limited (PLR)
by Nandun Thu May 06, 2021 10:42 am

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by Captain Wed May 05, 2021 11:51 pm

» Growing Fear
by Wickyz Wed May 05, 2021 8:15 pm

» CONGRATULATIONS TO FINANCIAL CHRONICLE ON THIS 11TH YEAR
by CHRONICLE™ Wed May 05, 2021 3:31 pm

» HNB to merge with Seylan Bank?
by reyaz Wed May 05, 2021 11:37 am

» There are howmany funds in Sri Lanka?
by reyaz Tue May 04, 2021 4:52 pm

EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

CHRONICLE™ NEWS PRODUCTS

FINANCIAL CHRONICLE™

Views & Reviews, Analysis, Evaluations, Discussions, Gossip and Hot Tips relating to Sri Lankan companies listed on the Colombo Stock Exchange (CSE)
Contribute




DAILY CHRONICLE™

Latest news and articles published in Newspapers, Websites, Blogs and other online news sites relating to business and investments in Sri Lanka
Contribute



ECONOMIC CHRONICLE™

This is a section that provide news, views, analysis, predications relating to Political and Socio-Economic factors and how such activities affect the Stock Market and other economic activity of the Country.

Contribute




EXPERT CHRONICLE™

This is an exclusive section for Expert Articles which will help member to share knowledge through comments and responses of the members. All members are allowed to reply and make comments to these articles.

Contribute


Submit Post


CHRONICLE™ YouTube

Youtube Videos and other visual presentations relating Stock market and other investment advise submitted by members or other contributors.

Contribute


Submit Post


කොළඔ කොටස් වෙළඳපොළේ වංශකථාව
කොළඔ කොටස් වෙළඳපොළේ ලැයිස්තුගත සමාගම් කොටස් ගැන තොරතුරු¸විශ්ලේෂණ¸සාකච්ඡා¸ කටකතා¸රසකතා යන සියල්ල අපේම සිංහලෙන් කතා කළ හැකි ‘කතා මණ්ඩපය’

Contribute

Twitter Feeds
POPULAR COMPANIES
A

ABANS ELECTRICALS PLC

ACCESS ENGINEERING PLC Hot

ACL CABLES PLC

ACL PLASTICS PLC

ACME PRINTING & PACKAGING PLC

AGSTAR PLC

AITKEN SPENCE HOTEL HOLDINGS PLC

AITKEN SPENCE PLC

ANILANA HOTELS AND PROPERTIES PLC

ARPICO INSURANCE PLC

ASIA ASSET FINANCE PLC

ASIA CAPITAL PLC

B

BAIRAHA FARMS PLC

BALANGODA PLANTATIONS PLC

BIMPUTH FINANCE PLC

BLUE DIAMONDS JEWELLERY WORLDWIDE PLC

B P P L HOLDINGS PLC

BROWNS BEACH HOTELS PLC

BROWNS INVESTMENTS PLC

C

CARGO BOAT DEVELOPMENT COMPANY PLC

CENTRAL INDUSTRIES PLC

CEYLON COLD STORES PLC

CEYLON GRAIN ELEVATORS PLC Hot

CEYLON TEA BROKERS PLC

CEYLON TOBACCO COMPANY PLC

CHEVRON LUBRICANTS LANKA PLC

COLOMBO FORT LAND & BUILDING PLC

COMMERCIAL BANK OF CEYLON PLC

CITRUS LEISURE PLC Hot

COMMERCIAL CREDIT AND FINANCE PLC

D

DANKOTUWA PORCELAIN PLC

DFCC BANK PLC

DIALOG AXIATA PLC

DIALOG FINANCE PLC

DIPPED PRODUCTS PLC

DISTILLERIES COMPANY OF SRI LANKA PLC

DUNAMIS CAPITAL PLC

E

EAST WEST PROPERTIES PLC Hot

EASTERN MERCHANTS PLC

EXPOLANKA HOLDINGS PLC

E-CHANNELLING PLC

F

FIRST CAPITAL HOLDINGS PLC

G

GALADARI HOTELS (LANKA) PLC

GUARDIAN CAPITAL PARTNERS PLC

H

HATTON NATIONAL BANK PLC

HAYLEYS PLC

HAYLEYS FABRIC PLC

HAYLEYS FIBRE PLC Hot

HEMAS HOLDINGS PLC

HIKKADUWA BEACH RESORT PLC

HNB ASSURANCE PLC

HVA FOODS PLC

J

JANASHAKTHI INSURANCE COMPANY PLC

JOHN KEELLS HOLDINGS PLC Hot

JOHN KEELLS HOTELS PLC

L

LANKA ASHOK LEYLAND PLC

LANKA IOC PLC

LANKEM CEYLON PLC

LANKEM DEVELOPMENTS PLC

LAUGFS GAS PLC

LAUGFS POWER LIMITED

LOLC FINANCE PLC

LOLC HOLDINGS PLC

LUCKY LANKA MILK PROCESSING COMPANY PLC

M

MELSTACORP PLC

N

NATIONAL DEVELOPMENT BANK PLC

NATION LANKA FINANCE PLC

NESTLE LANKA PLC

O

ORIENT FINANCE PLC

OVERSEAS REALTY (CEYLON) PLC

P

PANASIAN POWER PLC

PEOPLE'S LEASING & FINANCE PLC

PIRAMAL GLASS CEYLON PLC

PRIME FINANCE PLC

R

RAIGAM WAYAMBA SALTERNS PLC

RENUKA AGRI FOODS PLC

RENUKA CAPITAL PLC

RENUKA HOLDINGS PLC

RICHARD PIERIS AND COMPANY PLC

RICHARD PIERIS EXPORTS PLC Hot

ROYAL CERAMICS PLC

S

SAMPATH BANK PLC

SEYLAN BANK PLC

SIERRA CABLES PLC

SINGHE HOSPITALS PLC Hot

SMB LEASING PLC

SOFTLOGIC HOLDINGS PLC

SOFTLOGIC LIFE INSURANCE PLC

SRI LANKA TELECOM PLC

SWISSTEK (CEYLON) PLC Hot

T

TEEJAY LANKA PLC

TESS AGRO PLC

THREE ACRE FARMS PLC

TOKYO CEMENT COMPANY (LANKA) PLC Hot

U

UNION BANK OF COLOMBO PLC

V

VALLIBEL FINANCE PLC

VALLIBEL ONE PLC Hot

VALLIBEL POWER ERATHNA PLC

W

WASKADUWA BEACH RESORT PLC


You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Lanka's economy has great scope - US investors

Lanka's economy has great scope - US investors

Go down  Message [Page 1 of 1]

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
By Lalin FERNANDOPULLE
US investors said that Sri Lanka's economy has great scope for growth and they wish to invest in that growth said Sri Lanka's Ambassador to the United States, Jaliya Wickramasuriya in an interview with the Business and Finance of the Sunday Observer.

Excerpts of the interview

Q: What progress has been made on trade between Sri Lanka and the United States?

A:The United States is our number one export market. They imported Sri Lankan goods worth $ 2150m last year. During the first quarter of 2012, Sri Lanka's exports to USA increased 30 percent compared to the corresponding period in 2011. We expect this level of trade to continue.

Sri Lankan goods such as garments,tea, rubber products, gems and jewellery are regarded as high quality. Importers here are well-accustomed to doing business with Sri Lanka and our trade ties are long-standing. The key now is to build on that. For instance while the US is regarded as a coffee-drinking country, tea is becoming popular. The US is increasingly becoming a health-conscious country,so it's not surprising that tea consumption is growing. We need to move aggressively into this market, increasing the export volume to the US, while maintaining high quality.

Q: What about doing business with some of the heavier industries? We keep reading about the sale of Boeing aircraft to Sri Lankan Airlines. How is this sort of trade developing?

A: It is my understanding that Boeing and Sri Lankan Airlines are negotiating the terms of some Boeing 777s, and negotiations are progressing.

Boeing is a very influential company in the U.S. and in Washington. Each 777 aircraft means the employment of about 7,000 people here. Hence more sales for Boeing will help the US economy in terms of employment opportunities. There are other important equipment manufacturers who are seriously considering the Sri Lankan market in a major way. Caterpillar

makes earth-moving equipment and tractors. There is a lot of roadwork and other construction taking place in Sri Lanka, especially in the North.They are interested on that level.

John Deere is another US company that makes farm equipment. Our expanding agricultural base in the North has created interest among them. The Electro Motor Diesel, a company which makes railroad engines and equipment is also becoming a trading partner. It is owned by Caterpillar and it is hoping to become a major participant in the renovation of Sri Lanka's rail lines and rail service.

Q: Can you elaborate on trade and investment promotion by the embassy?

A: The embassy has launched a campaign to promote US investment in Sri Lanka. We have been working with the office of the U.S Trade Representative,the US Commerce Department and the US Chamber of Commerce in Washington DC to promote Sri Lanka as a trade and investment destination.

The US Trade Representative's Office had a campaign last year titled 'Make Sri Lanka Your Next Business Stop!'

Apart from these efforts, I have had frequent meetings with US Corporate leaders. We have also had several functions at my residence that are designed to introduce professionals to Sri Lanka as a business and travel destination. We take part in major travel shows here in the US and we promote Sri Lanka as a business destination in cultural programs. For many Americans, those gatherings open the door to Sri Lanka and they want to learn more. We are here to help them learn and explore the

possibilities. Beyond our traditional trade groups, such as garments, rubber and tea, we think there is ample room for growth in tourism, high technology manufacturing, agriculture and the energy sector.

Q: What about energy? Sri Lanka is exploring for offshore oil and ad new refinery is planned . Are US companies interested?

A: We have had quite a bit of interest from energy companies. I think they recognise Sri Lanka as an economy that has a great deal of growth ahead and they want to invest now to position themselves to take part in that growth. They are interested in our exploration efforts and refining capacity.

Overall, Sri Lanka is an attractive investment for the West. Our economic fundamentals are very strong, with a good, steady GDP growth around 8 percent, low unemployment and inflation.

The recent US $ 1b sovereign bond issue that drew strong international support was oversubscribed by seven and a half times showing international investor-confidence. I think our track record on national security is proved.

Having eliminated terrorism, disputes are now resolved through the political process, as befitting democracy.

I also think that people give us quiet credit for the way the Sri Lankan Government has handled the post-conflict challenges. We have resettled nearly everyone. We have helped more than 11,000 ex-LTTE combatants to be reintegrated with society through job training and education.

We have helped child soldiers to be reunited with their families.

Of course the LLRC's work has had a substantial impact on opinions here in the US. US Secretary of State, Hillary Clinton herself said two years ago, that a domestic review process is the most effective method of resolving internal conflict.

After External Affairs Minister Prof. G.L. Peiris's recent visit, the US State Department called the Sri Lankan Government's approach to the LLRC recommendations a "strong" one.

Q: What about the Sri Lankan diaspora in the US. We read a lot about activists in the diaspora. How cohesive is the Sri Lankan community?

A: A lot has changed since the conflict ended. I don't think everyone holds a universal view of things, but the general sentiment among all Sri Lankans living in the US is hope for continued peace and reconciliation at home.

A few people still continue to make wild allegations that would be quickly challenged by facts in Sri Lanka. But here the facts are not so readily available, so they get away with it - for a time, anyway.

One group has even hired a Washington lobbying firm to lobby in Congress against the Sri Lankan Government.

But most Sri Lankans are not taken in by these gestures,especially those who have traveled back to Sri Lanka to see things for themselves.

As I meet with the Sri Lankan community groups throughout the US, I can't tell you how many people have approached me and told me how amazed they were at the progress they saw on trips back home. Some say they never thought they would be able to see their childhood homes again or ever be able to visit Jaffna.

Now they go there and businesses are thriving, people are happy, there is peace. The threat of violence is gone.

These people come back to the US and tell the true story of Sri Lanka. And that is what we do at the embassy. That is our mission. I am constantly urging people to go to Sri Lanka to see for themselves the progress that has been made as seeing is believing.
http://www.sundayobserver.lk/2012/06/03/fin07.asp

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum