ESSL2011 eBrochure

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INVESTMENT FINANCIAL SECTOR TOURISM & AVIATION GLOBAL ECONOMY EDUCATION & SKILLS

4th - 5th July 2011Cinnamon Grand - Colombo, Sri Lanka

SRI LANKA

ECONOMIC SUMMIT

SRI LANKA

ECONOMIC SUMMIT20112011Commerce

The

ChamberCeylon

of

DRIVING GROWTH THROUGH FAST TRACK IMPLEMENTATION


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Enhance your knowledge on governmentplans to develop the Sri Lankan economyand progress in implementation of plans

Opportunity to meet and network

Ascertain potential sectors and projectsfor investment in Sri Lanka

Opportunity to clarify your concerns

with key government officials andindustry leaders

KEY BENEFITS

TO PARTICIPANTS

FOR WHOM

Chairmen & CEOs, Directors,Senior Managers, Managers, Executives,Management Trainees, Foreign InvestorsSenior Government Officials & Academics

The Ceylon Chamber of Commerce, with over 170 years of service to the nation and

business community, is the premier forum for business in Sri Lanka.

Working closely with 38 Trade, Product and Service Associations and 20 Bilateral Business

Councils and through its network of 17 regional chambers, the Chamber serves as the

gateway to a world of business opportunit y.

The Ceylon Chamber of Commerce

SRI LANKAECONOMIC SUMMITSRI LANKAECONOMIC SUMMIT20112011

Commerce

The

ChamberCeylon

of



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THE CEYLON CHAMBER OF COMMERCE presents

SRI LANKA ECONOMIC SUMMIT 2011

The Governments vision is to make Sri Lanka a keyeconomic centre in Asia. It is targeting to raise economic

growth to 9.5% in the medium term and to double digit

levels thereafter which require investments to be raised

to at least 35% of GDP in the medium term, from the

current level of 28%.

The conclusion of the war in Sri Lanka has spurred

investor interest from local and foreign investors. Local

businesses have initiated expansion plans and there has

been a notable rise in the arrival of foreign nationals for

business purposes. In 2010 foreign arrivals for business

related activities increased to 13.7% of total foreign

arrivals, from 8.6% in 2009. Meanwhile, many steps havebeen taken towards creating a conducive environment to

promote trade and investment. The Government has

continued its efforts to develop infrastructure facilities to

improve connectivity within the country and with foreign

markets. Reforms to the cumbersome taxation structure

were also introduced with the national budget for 2011.

Despite these progressive steps there are yet other areas

that need to be addressed to convert the investor

interest into solid investments as the pick up in

investments has been slower than anticipated. The

Sri Lanka Economic Summit 2011 organised by the

Ceylon Chamber of Commerce for the 12th consecutive

year will focus on Driving Growth through Fast TrackImplementation. Ministers, Key Government officialsand Private Sector leaders will be invited to speak at

the Summit.

The keynote speaker will elaborate the Governments

vision and strategy to develop the economy and the

investment policy framework during the inaugural

session. The technical sessions will focus on the

sectors that demonstrate greater prospects for growth

and on progress in implementation of reforms initiated by

the Government.

The administrative system with respect to many spheres

in Sri Lanka has not been restructured to meet

contemporary requirements, resulting in higher cost and

time of transactions.

In the current context of high international competition,

transparent and simplified systems and procedures are

crucial to draw investments to a country and to retain

investors. The Ministry of Economic Development

together with the Central Bank of Sri Lanka have already

taken an initiative to improve Sri Lankas ranking in the

World Banks Ease of Doing Business Index which

covers vital areas connected to business such asstarting a business, obtaining construction permits,

paying taxes etc. The first technical session of the

Summit will be on the Governments strategy to improve

Sri Lankas ranking in the Ease of Doing Business Index

involving simplification of procedures and modernizationof systems.

The Financial Sector is a cross-cutting sector that has a

strong bearing on the development of other sectors.

Application of an appropriate monetary policy, that

brings in macro-economic stability whilst promoting

investment and growth in productive sectors, is

fundamental for accelerating growth. It is of greater

significance to Sri Lanka when the country has stepped

on a new growth path. The session will deliberate an

appropriate monetary policy for Sri Lanka and reforms

required to the financial sector to facilitate the country to

achieve its economic targets.

The sessions that follow will focus on key growth sectors

of the economy; Tourism, Information and Communication

Technology / Business Process Outsourcing and Higher

Education and Skills Development.

Parallel sessions will also be held on Logistics,

Agriculture, Healthcare and Construction. All these

sectors have potential to expand and draw investments

from the private sector.

The Summit will conclude with a session with the

Parliamentarians from the Government and the Opposition

on Breaking the Bottlenecks in Development.

Driving Growth through Fast Track Implementation

Opening Ceremony of theSri Lanka Economic Summit 2011

9.00 10.30 am Inaugural Session

Welcome AddressProf Lakshman R Watawala

Chairman, Economic Summit Steering Committee

Address byDr Anura Ekanayake

Chairman, The Ceylon Chamber of Commerce

Chief Guest: Hon Basil RajapaksaMinister of Economic Development

Sri Lanka Beyond 2011...

The Governments Vision, Plans and Progress

towards Accelerated Growth and Development.

Keynote Address byDr P B Jayasundara

Secretary to the Treasury

Ministry of Finance and Planning

10.30 11.00 amTea break


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Plenary Sessions & SpeakersDAY 1 (Monday, 4th July 2011)

11.00 1.00 pm Plenary Session 1Attracting Investments The Ease of Doing BusinessThe Sri Lankan economy, which lost many opportunities during the near three decade war, has come alive in the last two years with the

end of the battle with the LTTE. Last year the country registered an economic growth of 8%, the highest for the last three decades. It isprojected to improve further this year. To attain the medium term double digit growth projections, investments have to rise significantly.

While there is investor interest, specifically in identified sectors such as Tourism, to transform interest into ground investments it is

important to have a clear investment policy and expedite procedures to implement projects.

The keynote address will focus on the new investment framework of the Government and this session will focus on the Governments

strategy to improve Sri Lankas ranking in the Ease of Doing Business Index. The Ease of Doing Business covers some vital areas

connected with setting up a new investment. The presentations will be followed by a panel discussion where key institutional heads

involved in the investment approval & implementation process and private sector leaders will comment and critique on progress achieved

and the way forward.

Keynote Speaker: Mr Ajith Nivard Cabraal - Governor, Central Bank of Sri Lanka

Macro Economic and Policy Environment required for attracting Investments Global Experience

Dr Indrajit Coomaraswamy - Former Director, Economic Affairs, Commonwealth Secretariat

PANEL DISCUSSION

Mr J D Bandaranaike - Chairman, The Board of Investment of Sri Lanka

Mrs Ramani Ellepola - Director General, Central Environmental Authority

Mr Ajantha Dias - Additional Director General, Sri Lanka Customs

Mrs Dhammika Gunathilake - Tax Advisor, Dept of Fiscal Policy, Ministry of Finance & Planning

Mr Susantha Ratnayake - Chairman, John Keells Holdings PLC

Mr J M S Brito - Deputy Chairman/MD, Aitken Spence PLC

Mr Srikanth Balachander - CFO, Bharti Airtel

Moderator: Ms Savithri Rodrigo

1.00 2.00 pm Lunch

2.00 - 3.30 pm Plenary Session 2Financial Sector ChallengesThe Financial sector plays a pivotal role in the development of any economy directly contributing to the economy and by providing a

considerable support function for the progress of other sectors of the economy. The financial sector in Sri Lanka has witnessed an

upsurge in activit y af ter the end of the war. The credit market which experienced a lull during the global economic recession has seen

increased activity over the last year. Grow th in credit to private sector has moved upto a robust 30% by early 2011, from negative figures

a year ago. The Colombo Stock Market which was largely dormant during the near three decades of war, saw a doubling of price levels

in each of the two years after the end of the war. As a result many companies have decided to list their shares in the stock market to

raise capital and benefit from the boom. Fur ther financial sector liberalization measures are also planned to ensure that the sector meets

the changing needs of the economy.

Despite these positive trends, there are cer tain areas that warrant attention. This session will mainly focus on three key topical areas;

Government policy on interest and exchange rates; the development of the long term debt market, a long felt need in Sri Lanka

which has become even more impor tant as the countr y steps into an accelerated growth path; and the capital market challenges facing

Sri Lanka.

Appropriate Interest and Exchange Rates

Mr Samiran Chakraborty - Regional Head of Research, Standard Chartered Bank, India

Banking Sector - Credit Appetite to support Long-Term Lending

Dr Koshy Mathai - IMF Resident Representative for Sri Lanka & Maldives, IMF Office

New Developments & Challenges in the Capital Market

Mr Malik Cader - Director General, Securities and Exchange Commission of Sri Lanka (SEC)

Q & A Session -15 minutesModerator: Mr Saliya Rajakaruna - CEO, Nations Trust Bank Ltd

3.30 3.45 pm Tea break


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Plenary Sessions & Speakers3.45 5.30 pm Plenary Session 3Growth Opportunities in TourismThe Tourism industry in Sri Lanka which has struggled to survive for over t wo decades has been given a new lease of life with the

termination of the civil war in mid 2009. With the removal of travel advisories which were imposed time and again due to terrorist activities,

tourist arrivals to Sri Lanka which stagnated around 400,000 500,000 picked up by 46% in 2010 to reach 654,000; one year af ter peace

was established.

The Government has set a target of reaching 2.5mn foreign arrivals by 2016. Whilst this requires only an annual growth of around 25% for

the next 5 years the challenge is to build the necessary infrastructure and support ser vices to accommodate the threefold increase in

arrivals. The session will consist of a key note address on the plans for development of the tourism sector and opportunities for

investment. It will be followed by a panel discussion where industry leaders and investors will express their views and respond toquestions from the audience.

Keynote Speaker: Dr Nalaka Godahewa - Chairman, Sri Lanka Tourism

Why Shangri-la decided to invest in Sri Lanka and join the Sri Lankan Tourism industry

Mr Madhu Rao - Executive Director & Chief Financial Officer, Shangri-la Asia Ltd

PANEL DISCUSSION

Mr Anura Lokuhetty - President, Tourist Hotels Association of Sri Lanka (THASL )

Mr Nilmin Nanayakkara - President, Sri Lanka Association of Inbound Tour Operators (SLAITO)

Mr Kapila Chandrasena - CEO, Mihin Lanka (Pvt) Ltd

Mr Dileep Mudadeniya - Head of Standards, Quality Assurance & Investment, Legal & Special Projects, SLTDA

Mr Ajith Gunawardena - Deputy Chairman, John Keells Holdings PLC

Moderator Ms Savithri Rodrigo

DAY 2 (Tuesday, 5th July 2011)

9.00 10.30 am Plenary Session 4New Growth Opportunities - ICT/ BPOThe IT/BPO Industry is one of the fastest growing sectors in Sri Lanka and is identified as the fifth largest export earner in the country,with current earnings estimated at around US$400mn per annum. The Governments aim is to encourage the industry to reachUSD 1 bn by 2015 and USD 2 bn by 2020.

Sri Lanka has already earned a reputation as a BPO destination on the world map. At Kearney Global Outsourcing Location Index Repor tof 2011 ranked Sri Lanka at No 21 among the top 50 outsourcing destinations in the world. Global services has ranked Colombo amongthe top ten emerging outsourcing cities in the world among the top 100 destinations, mainly in recognition of the citys capacity to offerFinance and Accounting Outsourcing services.

The Government has also launched various programs to increase ICT usage and literacy in its goal to make Sri Lanka a knowledge hub.The session will have experts from the IT and BPO sectors speaking on prospects and challenges to develop the sector in achievingthe targets set out for the industry.

Keynote Speaker: Mr Reshan Devapura - CEO, Information and Communication Technology Agency (ICTA )

Address by Dinesh Saparamadu - Chairman, Sri Lanka Association of Software and Service Companies (SLASSCOM)

PANEL DISCUSSION

Mrs Amali Nanayakkara - Managing Director & CEO, Bharti Airtel Lanka (Pvt) Ltd

Mr Mano Sekaram - CEO, Eurocenter

Mr Dushan Soza - Managing Director, WNS Global Services (Pvt) Ltd

Mr Kemal De Soysa - CEO, Amba Research Lanka (Private) Ltd

Moderator: Dr Rohan Samarajiva - CEO, LIRNEasia

10.30 11.00 am Tea Break


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Plenary Sessions & Speakers11.00 12.30 pm Plenary Session 5New Growth Opportunities - Higher Education and Skills DevelopmentHuman Capital is the main resource and driving force of any economy. Knowledge is the tool that humans use to achieve diverse results

and it is amassed and disseminated through education and training. Sri Lanka has been boasting of a high literacy rate akin to that of

developed countries for many decades at the basic levels. But we have not succeeded in keeping that pace when it comes to higher

education, training and skill development, to meet the needs of a knowledge economy. Sri Lanka ranks 82nd out of 140 countries in thelatest Knowledge Economy Index (KEI) published by the World Bank which indicates the extent we need to progress.

The University education in Sri Lanka is dominated by the state and it is unable to meet the demand and the quality required by the

labour market. In 2010, although 61% of the students who sat the GCE Advanced Level examination were eligible for admission to a

university, only 17.2% gained admission to the University, due to capacity limitations. Besides, with the upsurge in economic activity,many industry sectors are encountering shortages in skilled manpower availability. The Government is in the process of opening the

higher education segment for private sector investment. This is expected to increase the domestic capacity of university education.

Similarly, initiatives are also being taken by Government and non-Government institutes to develop vocational skills. Experts from state

and non state sectors will discuss and deliberate the plans and programmes in force to improve the countr ys education and skill levels

during this session.

Keynote Speaker: Hon S B Dissanayake - Minister of Higher Education

University Education in Sri Lanka - Challenges and Opportunities

Prof Malik Ranasinghe - Vice Chancellor, University of Moratuwa

PANEL DISCUSSION

Dr Sunil Jayantha Nawaratne - Secretary, Ministry of Higher EducationMr Panitha Ratnayake - Assistant Director, Job Placements and Career Guidance, Vocational Training Authority of Sri LankaDr Neville Fernando - Chairman/President, South Asian Institute of Technology & Management (SAITM)Prof Lalith Gamage - CEO, Sri Lanka Institute of Information Technology (SLIIT)

Moderator: Prof Uditha Liyanage - Director, Postgraduate Institute of Management (PIM)

12.30 1.30 pm Lunch

1.30 3.00 pm Session 6 (Break out sessions)

A. Logistics (Ports, Shipping & Aviation)Making Sri Lanka a key logistics centre in the region is one of the aims of the Government. This is expected to be achieved through the

five hub concept of Sri Lanka; naval, aviation, commerce, energy & knowledge. The location of Sri Lanka in the international shipping

route, in bet ween the European market and the Asian supply base, gives it an ideal advantage to become a logistic centre. To capitalize

from this, several major investment projects have already been initiated such as the Hambanthota Port Development project, MattalaInternational Airport, Expansion of the Colombo Port etc, with a view to facilitating Sri Lanka to become a key logistics centre. Experts

from Ports, Shipping and Aviation will be invited to this session to speak on the plans, progress and strategies of moving towards the

vision, surmounting severe international competition in the field.

Address by Dr Priyath Wickrema - Chairman, Sri Lanka Ports Authority (SLPA)Address by Dr Parakrama Dissanayake - Chairman/CEO, Aitken Spence Maritime LtdAddress by Mr Prasanna Wickremasuriya - Chairman Airport & Aviation Services (SL) Ltd (AASL)

PANEL DISCUSSION

Mr Ruwan Waidyaratne - Managing Director, Hayleys Advantis Ltd

Mr Gehan Kuruppu - Chairman, Sri Lanka Shippers Council (SLSC)Mr Nimal Ranchigoda - Chairman, Ceylon Association of Ships Agents (CASA)

Moderator: Mr Rohan Masakorala - CEO, Shippers Academy, Colombo

B. Agriculture, Plantations and Food SecurityThe Agriculture sectors contribution to the overall economy stands at 12% in Sri Lanka, much lower than that of industry and ser vices

but it has a far more significant impact on the people. Sri Lanka has now reached self sufficiency in rice, its staple food and produces

almost the entirety of the vegetables required for domestic consumption. However Sri Lanka depends on imports for some of the keyfood products such as Milk, Sugar & Fish. In the wake of recent climatic changes which lead to massive destruction of food produce, it

is necessary for all countries to strive for reasonable levels of food securit y in the main items in the food basket of a country. Unlike in the

past, dependence on imports have become risky as food exporting countries are sometimes forced to impose export bans at short

notice due to wide changes in world crop situations arising from climatic changes. The President of Sri Lanka launched an initiative to

increase food production towards achieving greater self sufficiency in main food items, a few years ago. This session will discuss future

plans for Agriculture sector development and strategies that may be necessar y to meet changing environmental conditions.Agriculture: Mr Samantha Ranatunga - Managing Director & CEO, CIC Colombo PLCPlantations: Mr Vish Govindasamy - Group MD, Watawala Plantations PLCFood Security: Ms Azeb Asrat - Dep Country Director, UN / World Food Programme

PANEL DISCUSSION ...continued overleaf


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Plenary Sessions & SpeakersB. Agriculture, Plantations and Food Security ...contd.PANEL DISCUSSIONMrs Dawn Austin - Past President, Sri Lanka Fruit & Vegetable Producers, Processors and Exporters AssociationMr Prabash Subasinghe - Managing Director, Global Seafood (Pvt) LtdMr Amanda Weerasinghe - Managing Director, Almar Trading Co (Pte) LtdMrs Janaki Kuruppu - Chairperson, Regional Development Bank

Moderator: Mr Rizvi Zaheed - Managing Director, Hayleys Agro Products Ltd

C. Healthcare and Health InsuranceIn comparison to many other developing countries, Sri Lanka possesses a good healthcare system, carried out by both the state and the

private sectors. Reports indicate that about 50% of healthcare ser vices are funded by the state with about 5% funded by voluntary healthinsurance schemes and the remainder being funded by individuals. Change in living styles, socio-economic conditions and increase inchronic illnesses exert more demand on healthcare ser vices. Besides high and rising cost of healthcare services and low publicexpenditure on healthcare also require consideration of alternate mechanisms of financing. The session will have resource persons fromthe public sector, private sector and the insurance industry to discuss and identif y strategies to overcome the oppor tunities andchallenges facing healthcare in Sri Lanka.

Health-care policy: Dr Harsha De Silva - Provincial Director of Health, Western Province

Opportunities for Private Sector Investment in Healthcare: Mr Murtaza Esufally - Chairman, Hemas Hospitals

Health Insurance: Mr Ramal Jasinghe - Director/CEO, Asian Alliance Insurance PLC

PANEL DISCUSSIONMr Ajith Tudawe - Chairman, Durdans HospitalMr Lakith Peiris - CEO, Lanka Hospitals PLC

Moderator: Mr Manjula De Silva - Managing Director, HNB Assurance Ltd

D. ConstructionThe construction sector is yet another segment of the economy that is performing well. The mega construction projects initiated by theGovernment in Ports, Airports, Highways etc; development of other sectors such as Tourism; Reconstruction of North and East;Expansion of the Housing and Real Estate sector have all contributed to the growth of the Construction Sector. However, as most of theconstruction projects are undertaken directly by the Government with foreign contractors, the scope for private sector involvement inthese and development of local capacity is restricted. The prevailing construction boom in the country is an ideal opportunity to develop

local capacity. The session will consist of a keynote address on the Masterplan for development of Colombo City and it will be followedby a panel discussion where several private sector contractors are expected to air their views on how to take forward the sector.

Masterplan for ColomboKeynote Speaker: Government Representative

Address by Prof Chitra Weddikkara - Professor of the Department of Building Economics, University of Moratuwa

PANEL DISCUSSIONMr Dakshita Thalagodapitiya - Secretary General, Chamber of Construction Industry Sri LankaDeshabandu Surath Wickramasinghe - Chairman, Surath Wickramasinghe Associates (Pvt) LtdCapt M G Kularatne - Chairman/MD, MAGA Engineering (Pvt) LtdMr Rohan Tudawe - Managing Director, Tudawe Brothers LtdMr Harsha De Saram - Vice Chairman, International Construction Consortium (Pvt) LtdMr Sumal Perera - Chairman, Access International (Pvt) LtdMr Upendra Weerasuriya - Chairman, Nikini Automation Systems (Pvt) Ltd

Moderator: Mr Ranjith Gunathilleke - Managing Director, Sanken Lanka (Pvt) Ltd

3.00 - 3.30 pm Tea Break

3.30 5.00 pm Plenary Session 7Breaking the Bottlenecks in DevelopmentThis session with the Parliamentarians from the Government and the Opposition will provide an opportunit y for them to express their views

and discuss key issues affecting economic development in Sri Lanka before an audience consisting of private sector leaders. Theaudience will similarly have the occasion to interact with the parliamentarians, posing questions and proposing solutions, on mattersaffecting their businesses and national development.

PANEL DISCUSSIONHon Champika Ranawaka MP - Minister of Power and EnergyHon Naveen Dissanayake MP - Minister of State Management ReformsHon Rauf Hakeem MP - Minister of Justice

Hon Sajith Premadasa MPHon (Dr) Harsha De Silva MPHon Rajavarothiam Sampanthan MP or Nominated representativeHon Vijitha Herath MP

Moderator: Ms Savithri Rodrigo


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SRI LANKA

ECONOMIC SUMMIT

SRI LANKA

ECONOMIC SUMMIT

20112011Commerce

The

ChamberCeylon

of


REGISTRATION FORM

Please indicate by marking your preference in which

Breakout Session you would like to participate

Breakout Session A Logistics (Ports, Shipping & Aviation)

Breakout Session B

Agriculture, Plantations and Food Security

Breakout Session C

Healthcare and Health Insurance

Breakout Session D

Construction

Title: Prof/Dr/Mr/Mrs/Ms:

First Name:

Last Name:

Job Title:

Company Name:

Company Address:

Direct Tel: Central Tel:

Direct Fax: Central Fax:

E-mail:

Please send this form duly completed to:

Irangika Siriwardena

The Ceylon Chamber of Commerce

50, Navam Mawatha, Colombo 2, Sri Lanka

Tel : (+94 11) 5588871 / 5588800

Fax : (+94 11) 2437477 / 2449352

E-mail : [email protected]

(For additional applications, please photocopy)

I wish to participate in the Sri Lanka Economic

Summit and enclose herewith a cheque*/cash for

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* Payment by cheque for MEMBERS ONLY please

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REGISTRATION FORM(Continued from front)

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30thJune2011

REGISTRATION FEE

LOCAL PARTICIPANTS

@ LKR 20,000/=(including local taxes)

For 3 or more bookings

@ LKR 18,000/=(including local taxes)

FOREIGN PARTICIPANTS

@ USD 250/=


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For further information, contact:

Commerce

The

ChamberCeylon

of

50 Nawam Mawatha, Colombo 2, Sri LankaTel : + 94 11 5588871 / 5588800Fax: +9411 2449352 / 2437477Email: [email protected]

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