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| Tuesday, 24 June 2003 |
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Business leaders react enthusiastically by Chamitha Kuruppu Business leaders reacted enthusiastically to yesterday's success on the Colombo Bourse and said that efforts should be made continuously to attract more investments in the market in the future. They said that foreign and local investors have shown their confidence in the economy by investing heavily in the stock market over the last few weeks. Excerpts from interviews: Hatton National Bank Managing Director/Chief Executive Officer and former CSE Chairman Rienzie Wijetilleke said that he was thrilled about CSE's performance as its former chairman and pointed out that the efforts taken by the Bourse to improve its standards have brought in favourable results. "With this performance many will say that the country is in perfect order and performing well at present. But to sustain with this success, there are various other things in the economy and political scene that need to be changed fast," he said. He said that leaders will have to take steps to make a better environment for locals and foreigners to invest as well as to help the CSE to continue with its bull run. President of the National Chamber of Commerce of Sri Lanka (NCCSL) Asoka de Z Gunasekera said that the rise in the Colombo Stock Exchange activities over the past few days shows the confidence of investors and the whole world in the country's economy. The Tokyo Summit has also contributed to a better performance of the CSE. "The international community including top foreign funding agencies such as the World Bank and IMF are confident about the present financial situation in the country." Gunasekera said that the confidence is due to the financial discipline that has been imposed on the country by the present government. Proper administration strategies of the UNF government have led the country to perform better. Therefore, the government should try to continue this situation and work on the same footing, he said. President of the Ceylon National Chamber of Industries Ranjith Hettiarchchi said that the bull run in the market shows the confidence of foreigners and local investors on Sri Lankan activities especially the economy. The CSE performance can be taken as a positive sign even when the country is somewhat in a doubtful situation with the peace process and recent naval attack. The country needs more foreign investors coming in and the bull run in the market will no doubt attract more foreign investment, he said. Hettiarchchi added that the present performance of the CSE will have a plus point on Sri Lanka. President of the Federation of Chambers of Commerce and Industries Nihal Abeysekera said that the CSE performance proves that the macro economic development of the country is accepted by the foreign community as well as the locals. It shows the confidence of investors both local and foreign. The donor conference has also had a positive reflection on the country's economy. The massive amount of aid pledged by donors at the Tokyo summit will lead investors involved in more business activities, he said adding that bringing down interest rates has also has contributed to the bull run in the market. The present situation will also attract more investors into the CSE, he said. |
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