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John Wilson, Managing Proprietor, John Wilson Partners : Viewpoint
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Viewpoint :John Wilson The Immigrants and Emigrants Act requires non-nationals entering Sri Lanka to obtain a visa unless exempted, although there are provisions for nationals of certain countries to enter without a visa for tourism or business purposes and to receive endorsement upon arrival. Administratively, an electronic travel authorisation (ETA) scheme is in place, which is required by…
Analysis

China's Belt and Road Initative reshapes Sri Lanka

Posted OBG AdminPosted in Uncategorized

Hailed by Chinese President Xi Jinping as “the project of the century”, the Belt and Road Initiative (BRI) promises to radically transform a vast swathe of the world’s trade and transport infrastructure. In doing so, it may also significantly change the way Asia does business with the world, and the way the world does business with Asia. Historical Precedent While it is a relatively new…
Analysis

Reforms to improve trade and investment climate in Sri Lanka

Posted OBG AdminPosted in Uncategorized

A host of bold reforms aimed at improving the investment environment are being undertaken after Sri Lanka slid one spot to land at 111th place in the World Bank’s “Doing Business 2018” report index, which measures the ease of conducting business across a variety of indicators. The government’s Vision 2025 mid-term economic agenda targets boosting Sri Lanka’s rank by 41 places on the…
Analysis

Sri Lanka supports increased investment through public-private partnerships

Posted OBG AdminPosted in Uncategorized

Rising public debt and spending rationalisation has brought public-private partnership (PPP) deployment to the forefront of economic and trade policy reforms, with the Vision 2025 development strategy emphasising increased utilisation and diversification of PPPs. Shared development frameworks are thus expected to expand beyond the mainstay power and transport sectors into education, health and tourism. To…
Analysis

Sri Lanka lowers tariffs to increase trade volumes and investment

Posted OBG AdminPosted in Uncategorized

Flat export growth and a widening trade deficit have prompted Sri Lanka to launch a series of trade policy reforms aimed at boosting domestic competitiveness and export-oriented investment. A new trade strategy, announced in early 2017, is expected to shift the focus towards value-added manufacturing offerings and support programmes for exporters. Tariff reforms have been identified as a critical…
Analysis

EU reinstates trade preferences for Sri Lanka

Posted OBG AdminPosted in Uncategorized

The government’s push to increase export receipts will benefit from the restoration of its Generalised System of Preferences Plus (GSP+) trade concessions status with the EU, which had been suspended for nearly seven years prior to mid-2017. Although data shows that EU imports from Sri Lanka did not significantly decline in the years following its loss of GSP+ concessions, regaining the status is…
Analysis

More moderate lending growth forecast for Sri Lanka's banks due to stricter monetary policy

Posted OBG AdminPosted in Uncategorized

Following several years of high credit growth, lending in Sri Lanka slowed in 2017 on the back of stricter monetary policies and higher interest rates. While credit growth is not forecast to reach the peak levels seen between 2015 and 2016, it is expected to rise moderately from 2018 to 2020 thanks to renewed GDP growth and better credit quality. Cooling Off Private sector credit soared…
Analysis

Private bank growth in Sri Lanka offers new investment opportunities

Posted OBG AdminPosted in Uncategorized

Sri Lanka’s private banks enjoyed strong loan and deposit growth in 2017 due to careful asset management and judicious repricing. However, ongoing increases in capital requirements are leading a number of institutions to undertake rights issues and float debenture bonds to raise funds, giving investors a chance to participate in the market’s overall growth. Market Share According…
Analysis

Tax reforms and Inland Revenue Act bolster the federal budget in Sri Lanka

Posted OBG AdminPosted in Uncategorized

Low government revenue is a key challenge facing sustainable macroeconomic growth in Sri Lanka, adversely affecting its finances and limiting the government’s ability to fund infrastructure and social initiatives. Tax reforms launched under an IMF loan agreement, coupled with the Inland Revenue Act (IRA) to improve tax collection, should offer much-needed fiscal space. Revenue Volatility Data from…
Analysis

Sri Lankan stock market outlook

Posted OBG AdminPosted in Uncategorized

Sri Lanka had a challenging year in 2017, with GDP growth slowing notably to 3.3% in the third quarter, from 4.6% during the same period the previous year. The country was affected by a series of natural disasters and a dengue fever epidemic, which impacted tourist arrivals, retail, construction and agriculture, while driving the inflation index to highs of 7.8% in October. Together with the…