Sri Lanka expects US$100 Bn Market Capitalization by 2020: SEC Chief

Jan 08, 2014 (LBO) – Sri Lanka expects a US$ 100 billion market capitalization by 2020, the Chairman of Securities and Exchange Commission said yesterday. We hope to see about 7. 5 billion US dollars being raised through the capital market over the next six years which will add another US$ 30 billion as capitalization,”

We expect not only the private businesses but also some State owned enterprises to be listed during this period.

He said it is expected LKR 10 billion needed to be added to the 2020 market capitalization target through introducing new structured financial instruments to the market.

Godahewa said the balance five billion dollar gap was expected to be bridged though opening the Colombo Stock Exchange for cross border listings.

This also means that before 2020 Central Banks should agree to liberalize the capital account, at least partially, Godahewa said.

With the improvements in our export sector and tourism, with the growth of foreign remittances, with the increased foreign investor interest in the capital market and with growing FDIs, our reserve position will continue to grow making it easier for