The capital market is expected to be a key contributor to the economy by 2020 with a Market Capitalization of around US$ 100 billion. A strong regulatory framework and a reputation for Corporate Governance are essential pre-requisites in achieving that vision, SEC Chairman Dr Nalaka Godahewa said.
Speaking on ‘Corporate Governance’ at the Directors Symposium for the NBFI sector on Tuesday, he said with the right strategic focus and the commitment of all stakeholders,they have been able to bring the stability back to the market and create an environment where the capital market is viewed as a potential key contributor to the national economy.
"Since the end of the war in 2009, the total value of the equity market has increased to US$ 24 billion. The All Share Price Index (ASPI) of the CSE recorded an impressive growth of nearly 300%. Market Capitalization to GDP ratio has improved from 11% to 37%. Net Foreign Inflow has exceeded Rs. 90 billion during the last 3 years.
Average Market Return over the last 11 months exceeded 26%. The ASPI has crossed the 7000 mark and all signs are that the market has entered a phase of steady growth with normal fluctuations. "I believe most of you are already familiar with the vision 2020 targets of the country.
The government is targeting a US$ 150 billion economy and a Per Capital Income of US$ 7500 by 2020 that will make us on par with some of the upper middle income economies. A key component in this overall economic development strategy of the country is making Sri Lanka a true commercial hub.
“We expect the capital market to be a key contributor to the economy by 2020 with a Market Capitalization of around US$ 100 billion," Dr Godahewa said.
A strong regulatory framework and a reputation for Corporate Governance are essential pre-requisites in achieving that vision.
www.dailynews.lk
Speaking on ‘Corporate Governance’ at the Directors Symposium for the NBFI sector on Tuesday, he said with the right strategic focus and the commitment of all stakeholders,they have been able to bring the stability back to the market and create an environment where the capital market is viewed as a potential key contributor to the national economy.
"Since the end of the war in 2009, the total value of the equity market has increased to US$ 24 billion. The All Share Price Index (ASPI) of the CSE recorded an impressive growth of nearly 300%. Market Capitalization to GDP ratio has improved from 11% to 37%. Net Foreign Inflow has exceeded Rs. 90 billion during the last 3 years.
Average Market Return over the last 11 months exceeded 26%. The ASPI has crossed the 7000 mark and all signs are that the market has entered a phase of steady growth with normal fluctuations. "I believe most of you are already familiar with the vision 2020 targets of the country.
The government is targeting a US$ 150 billion economy and a Per Capital Income of US$ 7500 by 2020 that will make us on par with some of the upper middle income economies. A key component in this overall economic development strategy of the country is making Sri Lanka a true commercial hub.
“We expect the capital market to be a key contributor to the economy by 2020 with a Market Capitalization of around US$ 100 billion," Dr Godahewa said.
A strong regulatory framework and a reputation for Corporate Governance are essential pre-requisites in achieving that vision.
www.dailynews.lk
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