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President says Sri Lanka is proactive and pro-business

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Says potential investors can connect directly with policymakers at the highest level

President Gotabaya Rajapaksa said yesterday that he and his government are deeply committed to maintaining policy stability and consistency within a stable macroeconomic environment and that the government of Sri Lanka is ‘proactive and pro-business’.

“We will look very favourably upon investments that can have a transformative impact on our economy as well as our national profile, and we will do our utmost to create an enabling environment for the success of such investments.”

The President made these remarks at the inauguration of the Sri Lanka Investment Forum 2021 where more than 1,000 potential investors had a virtual call with Sri Lankan leaders and policymakers.

“Our legal and regulatory frameworks are being refined to ensure greater responsiveness, transparency, and security for investors. Unnecessary bureaucratic red tape is being removed and procedures are being streamlined to ensure greater ease of doing business in Sri Lanka,” the President said.

He further said: “Today’s event takes a holistic view of the many and varied investment opportunities Sri Lanka offers across all sectors of its economy. It brings together the Board of Investment, Colombo Stock Exchange and the Ceylon Chamber of Commerce, alongside key policymakers, entrepreneurs, and business leaders. This will encourage robust dialogue and information sharing about our investment environment, and it will highlight opportunities for direct investments as well as opportunities in capital markets and debt markets.”

“This investment forum comes at an important time for Sri Lanka. My Government has ambitious plans to unleash a decade of transformational and rapid economic growth to double our national output from its current level to 8,000 dollars GDP per capita by 2030.”

“Our unique geo-strategic position, political stability, robust institutions and social infrastructure, educated and capable workforce, and high quality of life are some of Sri Lanka’s current strengths. We will leverage on these to set the platform for our growth target.”

“In addition, significant improvements to our infrastructure are continuously being made. These include increasing power generation from renewable sources, improving connectivity through upgrading of road and rail networks, and further expansion and improvements to our ports that will all facilitate our development drive.”

“As President of Sri Lanka, I am determined to see these changes through and to further improve our already welcoming environment for investment. There are significant opportunities across many economic sectors in Sri Lanka that can provide tremendous returns to foreign and local investors alike. With its geostrategic location only a few hours away by air from major global hubs, Sri Lanka is one of the best-connected nations in all of South Asia. The commercial capital, Colombo, is one of the most attractive and liveable cities in the region.”

“The many opportunities this city affords will soon be greatly enhanced by the Colombo Port City, a new cityscape that will feature world class residential, commercial, social and entertainment facilities. Our vision is to make the Port City a key service hub for one of the fastest growing regions in the world. Its residents will have all the facilities they need to do productive work, while enjoying a very high quality of life in a vibrant tropical beachside environment that fuses the best of both old and new.”

“You will be able to connect directly with policymakers at the highest level, as well as technical experts, project owners, and potential partners who can support your investment ambitions in Sri Lanka,” the President said.



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ICC’s Oceanfront Galle completed on time amidst Covid-19 restrictions

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Oceanfront Galle structure constructions have been completed on time, amidst the restrictions imposed by the authorities to contain COVID 19 pandemic. Nevertheless, ICC has taken initiatives to apply for COC in the beginning of June 2021.

The home owners and potential investors were invited to inspect on the construction progress of Oceanfront condominiums in Galle while experiencing the beautiful sunset by the Galle coast. ICC has conceptualized OFC Galle to have a view of the clear ocean from all possible angles featuring a fully equipped gym, a double floored spa and “Sunset” restaurant with beautiful views of the ocean.

Allowing investors to seamlessly enjoy the returns of OFC, ICC has introduced an all-inclusive rental management system which offers end-to-end solutions.

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Major-value stocks decline,three companies prop up ASPI

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By Hiran H.Senewiratne

Stock trading activities in the Colombo Stock Exchange(CSE) was subdued throughout yesterday as all major value-stocks declined in prices. Three companies; namely LOLC Development Finance (NIFL) Carsons and Bukit Darah kept the All Share Price Index positive, stock market analysts said.

Hence both indices showed mixed reactions. All Share Price Index was up by 16.98 points up and S&P SL20 down by 40.86 points. Turnover stood at Rs 1.94 billion with a single crossing. The crossing took place in HNB (Non Voting), which crossed 330,000 shares to the tune of Rs 36.3 million and its share price traded at Rs 110.

In the retail market top five companies that mainly contributed to the turnover were Expolanka Rs 247 million (4.9 million shares traded), Bukit Darah Rs 156.7 million (450,500 shares traded), LOLC Rs 145.5 million (365,000 shares traded), Browns Investments Rs 128.5 million (21 million shares traded) and HNB (Non Voting) Rs 109.3 million (993,000 shares traded).

When Bukit Darah share price appreciated by 25 percent or Rs 51.25 from its initial trading price of Rs 279.50 to Rs 355, its holding company Carson Plc  share price also appreciated in parallel to its. Carsons Plc share price appreciated by 18 percent or Rs 52. Its share price started trading at Rs 293 and at the end of the day it shot upto Rs 345.

Further, NIFL being a low float company its share price increased by 25 percent or Rs 51.25. Its share price started trading at Rs 205 and at the end of the day it moved to Rs 256.25. These companies positively contributed 75 points to the All Share Price Index. Carsons contributed 28 points, Bukit Darah 28 points and NIFL 19 points to the All Share Price Index.

NIFL or LOLC Development Finance Company  has emerged as the most valuable finance company in terms of market capitalization. During the last seven sessions it’s share price appreciated by 261 percent or 3.6 times. The share price staryed trading at Rs 71 seven days ago and today it has moved up to Rs 256.25.

 

 

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People’s Bank Dankotuwa branch moves to new premises

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Opening of the People’s Bank Dankotuwa Branch at the new location which offers added convenience to its customers

 

People’s Bank Dankotuwa Branch moved to a new location recently. The opening ceremony of the new premises was attended by People’s Bank Chief Executive Officer/ General Manager Ranjith Kodituwakku.

The new spacious premises offers added convenience to customers along with a full range of services backed by the latest digital banking technology.

People’s Bank Deputy General Manager (Recoveries) Lionel Galagedara, Regional Manager(Puttalam) K.A.A.S Peiris, Assistant Regional Manager S.A.M.L Sirimanne, Dankotuwa Branch Manager D.M Liyanage, customers, also participated at the event.

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