George Soros looking at investment opportunities in Sri Lanka

soros

Jan 07, 2016 (LBO) – Global investor George Soros said that his team is in the Island and are looking at investment opportunities.

“In addition to my people connected to the Open Society Foundation, my investment person is also in Sri Lanka to look for opportunities,” George Soros, a global investor and Founder Chairman of Open Society, said.

“I am impressed with  this government and what they have achievement in a short period of time.”

He was speaking at an economic forum in Colombo with Sri Lanka’s President, Prime Minister and other senior officials in attendance.

He also said that there were opportunities for Sri Lanka in tourism.

“Sri Lanka is a bright spot and I think there is great opportunity in tourism.”

However he said that external global environment will be hostile in the future and that funds would flow out of developing countries.

“Money is no longer coming to developing countries and harsh choices will have to be made instead of waiting for things to get better,” he said.

“The world is now in a deflationary situation and developing countries that benefited from the commodity boom will not be able to do so any longer.”

Interest rates in the United States going to positive territory the trends may get stronger, he added.

LBO

 

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Giabao
Giabao
6 years ago

The mere fact that Soros is looking at investing in Sri Lanka, could increase country risk premium of Sri Lanka. Cannot understand the logic of chasing away James packer and welcoming this man into the country. At least James packer could have build hotels and created jobs, This man will only use insider info and plan how he could profit from destabilizing sri lanka’s financial market.

samsaroyan
samsaroyan
6 years ago
Reply to  Giabao

I agree and it is unbelievable they chased out Packer and put red carpet to Soros, They scrap Port city project yet they want to build Megapolis…..

SriLankanLiberal(Secular)
SriLankanLiberal(Secular)
6 years ago
Reply to  samsaroyan

It would be great to know in what world are you living in?
When did they scrap the Port city? last time I checked they are adding the Port City to Megapolis masterplan

samsaroyan
samsaroyan
6 years ago

The Project has stopped for good part of more than a year, May be you are the one who needs to wake up from deep sleep. Everything, including the land fill is eroding to the sea day by day, CPHE calculated the losses at least a million dollars a month due to suspending the project by GOSL. This project was a joint venture, that means GOSL can’t add or modify the project without the consent of Chinese counterpart, and do you really think Chinese are going to dance to the chimes played by hostile administration like Sirisena’s. I can understand political kowtowing but stop being delusional and stop taking the red pill…..

samsaroyan
samsaroyan
6 years ago

The Project has stopped for good part of more than a year, May be you are the one who needs to wake up from deep sleep. Everything, including the land fill is eroding to the sea day by day, CPHE calculated the losses at least a million dollars a month due to suspending the project by GOSL. This project was a joint venture, that means GOSL can’t add or modify the project without the consent of Chinese counterpart, and do you really think Chinese are going to dance to the chimes played by hostile administration like Sirisena’s. I can understand political kowtowing but stop being delusional and stop taking the red pill…..

expat
expat
6 years ago

if u take the 30 richest (on available info) people in the world , there are 9 people below 60 years of age and 7 over 80 years of age. Soros is 85.
sri lanka shud look at attracting the younger guys like the owners of Microsoft, Google, Facebook etc., rather than just looking for the money!!

rich list
rich list
6 years ago

Forbes has a list called 40 under 40, these are the guys we should invite. These all the brightest/richest guys -founders Uber, Facebook, Whatsapp etc. We should invite them for an expense paid holiday and see who is interested.

JeffK
JeffK
6 years ago

Not to the frogs in well who worships any white skin they can find. Soros is accused now of funding the regime change in Ukraine. I have an fair idea how Ranil and he made friends!

Navin Karunatilaka
Navin Karunatilaka
6 years ago
Reply to  JeffK

Soros is well known for meddling in small nations for financial gain. He also has a perverse political agenda.

Char
Char
6 years ago

Mr Soros please don’t invest in our stock market. We will be left with nothing if you play your manipulative games in CSE.

Nirmalan Dhas
Nirmalan Dhas
6 years ago

Investments in Sri Lanka will have as their objective the development of the IOR-ARC, SAARC, BIMSTEC and ANTARCTICA. These investments will be made in the design and development of structure and infrastructure, processes and systems and not in development projects. The payback on these investments will benefit their owners. They will also provide about 100,000 jobs paying between 150,000 to 500,000 rupees per month. There may be another 200,000 jobs paying between 50,000 to 150,000 per month. There may also be about 5,000 jobs paying between 500,000 to 5,000,000 per month. Sri Lankans will not have the skills required for many oh these jobs and foreigners will have to be hired.

Employment within the domestic economy will begin to rise significantly only when global processes of environmental repair regeneration rehabilitation and development are engaged, which may take some time…

samsaroyan
samsaroyan
6 years ago

George Soros isn’t all that bad, In 1987 he wrote a book “The Alchemy of Finance”. A must read for any finance enthusiast, one of the best books ever written about global finance. In my view it is only second to “Intelligent Investor” by Ben Graham in terms of content richness. I don’t think he will invest in Sri Lanka as government expected, couple months ago they brought Marc Mobius to Sri Lanka. And a week ago I read on Bloomberg that Mobius isn’t really impressed about Sri Lankan Markets and economy. But be careful with Soros, only thing predictable about the guy is he is unpredictable…..

Nirmalan Dhas
Nirmalan Dhas
6 years ago

Investments in Sri Lanka will have as their objective the development of the IOR-ARC, SAARC, BIMSTEC and ANTARCTICA. These investments will be made in the design and development of structure and infrastructure, processes and systems and not in development projects. The payback on these investments will benefit their owners. They will also provide about 100,000 jobs paying between 150,000 to 500,000 rupees per month. There may be another 200,000 jobs paying between 50,000 to 150,000 per month. There may also be about 5,000 jobs paying between 500,000 to 5,000,000 per month. Sri Lankans will not have the skills required for many oh these jobs and foreigners will have to be hired.

Employment within the domestic economy will begin to rise significantly only when global processes of environmental repair regeneration rehabilitation and development are engaged, which may take some time…

Liam Daniels
Liam Daniels
6 years ago

“I am impressed with this government and what they have achievement in a short period of time.” ?????This government did non initiate the development we see in the country today. So lets make that clear. Tourism has the potential for many developments, but John Amaratunga is the wrong man for the job. I returned to Sri Lanka from the U.S with the idea of making a contribution to the country, however after dealing with two incompetent governments, I am now heading back to the U.S. Sri Lanka has a brain drain, and until this is stopped, Sri Lanka will not be able to execute any strategies as we need talented people to run the show. The government is talking about brain gain, but I ask the powers to be, what can you offer those returning to Sri Lanka? I see all this exposure in the media as pure propaganda, with a slim chance of getting Sri Lanka to be a destination that has the power to bring high value tourists and not just the cheap Indians and Chinese, and then do press release after press release to say that arrivals are up compared to last year.

Nirmalan Dhas
Nirmalan Dhas
6 years ago

…George…this is what I want…are you interested in investing in it…????

Nirmalan Dhas
Nirmalan Dhas
6 years ago

…and George…this is the overall context required…are you really interested in making this happen…????

Nirmalan Dhas
Nirmalan Dhas
6 years ago

…and here is something that will help with the knowledge transfers and the combating of corruption and the building of a truly “open Society”…that can become a model that is Sri Lankas gift to the world…would you by any chance be interested in joining in the making…

rich list
rich list
6 years ago

Dhas, your quadriform state will take exactly 100 years to set up, because all the rotten people in the positions you have mentioned

Nirmalan Dhas
Nirmalan Dhas
6 years ago
Reply to  rich list

…how long it takes…or whether it happens at all, will depend on what the rest of us – that is those apart from “all the rotten people in …” – decide to do.

Adams brother
Adams brother
6 years ago

So it’s time to Soros to spend few millions to buy that blue sapphire in Sri Lanka.