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Lanka's economic growth since 2009, impressive - Ambassador Wickramasuriya

Safety, political stability and business-friendly policies are the essential ingredients business savvy investors look for when considering opportunities in foreign markets and that is exactly what they would find in Sri Lanka, Sri Lanka's Ambassador to the United States Jaliya Wickramasuriya said.


Ambassador Jaliya Wickramasuriya delivers the keynote address at the 2013 Frontier South Asia Investor Conference in New York.

Delivering the keynote speech at the 2013 Frontier South Asia Investor Conference in New York City last Tuesday, Ambassador Wickramasuriya told an audience of US investment professionals that Sri Lanka has achieved an impressive economic growth averaging 7.5 percent since 2009.

The conference was organised by Auerbach Grayson, the largest US global brokerage group specialising in frontier markets covering 129 countries.

Expounding on Sri Lanka's strong economic fundamentals, he drew the audience's attention to Sri Lanka's remarkable progress, especially with the dawn of peace in 2009.

"In terms of the perceptions on the business environment of Sri Lanka, what is important are the independent international indexes which feature Sri Lanka's continuous improvements on the business environment, good governance and competitiveness", he said.

Ambassador Wickramasuriya also shared some of the recent ratings that Sri Lanka has obtained in independent indexes with the audience.

"The UNDP-compiled Human Development Index ranks Sri Lanka among the highest in the South Asian region, ranking at 97 out of 187 countries. As per the Doing Business Index of the World Bank and the IMF, Sri Lanka has ranked highest in the region at 81 in 2013, up from 89 in 2012.

It should be noted that Sri Lanka is the highest ranking country in South Asia and is the only country in the region to improve its ranking for 2013," he said.

"In other internationally comparable indicators such as Index of Economic Freedom by the US-based Heritage Foundation, Sri Lanka ranked 81 in 2013 compared to 111 in 2009", he said.

The two-day conference was a collaborative effort of Aurebach Grayson, City Bank of Bangladesh, First Capital of Pakistan and TKS Securities of Sri Lanka.

The large and representative gathering included US fund managers, investment professionals and corporate representatives from South Asia. Dialog Axiata PLC and Seylan Bank PLC represented the Colombo Stock Exchange at the conference.

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