In a recently conducted interview, the CEO of the Colombo Stock Exchange, Rajeev Bandaranaike & Head of Origination & Issuer Relations, Pulasiri Jinadasa, shared their aspirations for the potentially prosperous future of the Colombo Port City.
Recently, the CSE and Colombo Port City signed a Memorandum of Understanding (MoU) to establish a regional stock exchange within the Port City. When asked if the potential advantages of a regional stock exchange, the Head of Origination commented that it would help develop a vibrant financial eco
system & lay the groundwork for the development of innovative financial services which specially cater to a more sophisticated global clientele.
He also added that favorable financial policies such as zero exchange controls, zero employment income tax, the ability to be reimbursed in foreign currency & freedom of movement of foreign labor would help in this endeavor.
When asked about the capabilities of the regional exchange & whether it would have room for corporate debt markets and REIT’s etc., Pulasiri noted that the regional exchange would continue to cater to the traditional markets of equity & debt while at the same evaluating the possibility of expanding to novel digital assets.
The Head of Origination & Issuer Relations noted that Port City Colombo would primarily deal with the international market, and local companies that mainly cater to foreign clients or earn from foreign sources will have significant opportunities for growth.
Many government officials and CSE officials are confident that the project will pay off in the long run. For now we must wait and watch as the project that will either make or break Sri Lanka as it steadily progresses.
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