SL’s capital market needs comprehensive economic plan and foreign currency focus – SEC Chief

Sri Lanka needs a comprehensive, targeted national economic plan to build investor confidence that can facilitate around 8 to 9 percent of growth, Securities and Exchange Commission (SEC) of Sri Lanka Chairman Senior Professor Hareendra Dissabandara said.

- By SHANNINE DANIEL

The SEC, as the facilitator and regulator of the capital market, could oversee around 20 percent of these calculated investments, he added, urging potential foreign investors and government authorities to invest in the capital market.

“The authorities should make sure government projects come through the capital market. This will be the easiest and most flexible and sustainable way to invest in new projects) Prof. Dissabandara said.

Colombo’s Lotus Tower, valued at US$ 103 million and was funded mostly by a loan from China's Exim bank, is not operating at its full strength, Prof. Dissabandara revealed.