Tuesday, October 30, 2012

Discussion: Integrity at the Colombo bourse

On Thursday 1st November, The European Chamber of Commerce Sri Lanka (ECCSL) will host a panel discussion on ‘Capital Markets: Integrity and Development’ at the Palm Lounge, Galle Face Hotel.

Financial experts with a wealth of industry experience from both the private and government sectors have been invited to speak.

Dr. B. M. S. Batagoda - Deputy Secretary to the Treasury, Ministry of Finance and Planning will kick off proceedings with a discussion on "Government Policy on the Equity Market". Other guest speakers include Dr. Harsha De Silva - Member of Parliament, who will be speaking on "Importance of an Independent Regulator (Capture and Impact)", Sunil Handuneththi - Member of Parliament, speaking on "The Role of the People in Safeguarding their Stock Market Investments", Dr. Dilesh Jayanntha - Independent Economic Advisor to the ECCSL speaking on "Equity as a Long-term Investment Option" and industry expert, K.C. Vignarajah speaking on "Energizing the Stock Market and Good Corporate Governance".

This panel discussion comes at a crucial time when reforms in the financial sector are integral for the economic success of the country.

"Post-war Sri Lanka needs to bring in large amounts of investment into the country and we need to move up along the value chain as other countries are also competing at the lower end of the scale Mynamar, Vietnam, Bangladesh, etc." claims Dr. Harsha De Silva, a guest speaker at the event.

"We need to diversify our product mix available to the world. It’s a critical equation in moving to the next stage of development. It is in that context that the equity market and the corporate debt market become important.

"What we need to do is to build confidence in investors that they can come to Sri Lanka with their money with the hope of achieving their objectives which naturally translate into meeting our objectives as well. Their objective is to bring money into a safe location where their money can work for them, where they can invest and expect to make a reasonable profit – that is the win-win on both sides we are looking for. Therefore, we need a properly governed capital market where contracts are honoured where rules and regulations are followed, where people who commit fraud are punished and there is policy consistency," Dr. De Silva said.

For more information, please contact the ECCSL Secretariat at: The European Chamber of Commerce Sri Lanka, 75/4 Barnes Place, Colombo 07 Tel:  +94 011 2699138  / Email: eccsl.events@gmail.com.

source - www.island.lk

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