Sri Lanka encourages ‘patient investments’ - Minister Bathiudeen

The highest over subscription ever seen for a Sri Lankan international bond in April and KPMG’s latest positive Change Readiness Index ranking for Sri Lanka, shows the growing international investor confidence on the country. Sri Lanka prefers patient investments to hot money. “Sri Lanka has entered a new era of development thanks to the visionary leadership of President Mahinda Rajapaksa.

Minister of Industry and Commerce, Rishad Bathiudeen meets UAE Minister of Foreign Trade Sheikha Lubna bint Khalid bin Sultan Al Qasimi during the Annual Investment Meeting at the Maktoum Hall, Dubai International Convention and Exhibition Centre

Bank of Ceylon’s $500 m international bond was oversubscribed to $ 3.86 b last week which is a 7.7 times over-subscription of the first international bond issued by a bank in the country, which is a huge success. We are also now better prepared and adaptable, in that, only on April 26, that Sri Lanka has been described in a positive light by the Global KPMG-ODI Change Readiness Index that indicates which countries are better prepared to face global change. Among 60 developing and emerging economies, Sri Lanka achieved rank 22 which is even above the rankings of some BRIC countries thereby ensuring the capability of our Government to face international economic challenges” said, Minister of Industry and Commerce, Rishad Bathiudeen.

Minister Bathiudeen was briefing the “Cross Regional Trade and Investment Roundup” Executive Roundtable on Tuesday which was awaiting Sri Lanka’s investment message at the Dubai Annual Investment Meeting held at the Maktoum Hall, International Convention and Exhibition Centre. Dubai. Among the roundtable members were Mayor, City of Montreal, Canada,Gerald Tremblay, Minister of Economy and Antimonopoly Policy, Kyrgyzstan,Temir Sariev, Minister of Trade and Investment, Nigeria, Olesegun Aganga, Chief Executive, Trade Development Authority, Pakistan,Pariq Puri, Director General, Dubai Department of Economic Development, Sami Al Qamzi and Minister of IT, Government of Andhra Pradesh, India, Ponnala Lakshmaih.

A press release states “AIM has now reportedly become the sought after international level foreign trade and FDI staple event for emerging economies and frontier markets, due to its special focus on FDI and international trading for emerging economies in a recession climate, and has drawn wider attention and more than 3,000 expert and investors, including 45 foreign trade and Ministerial delegations were present at Tuesday's event in Dubai, showing the growing importance of the event to which only 8 Ministerial delegations attended in 2011.