INVESTMENT

FINANCIAL SECTOR

TOURISM & AVIATION

GLOBAL ECONOMY

EDUCATION & SKILLS

SRI LANK A ECONOMIC SUMMIT

DRIVING GROWTH THROUGH FAST TRACK IMPLEMENTATION

Ceylon Chamber of Commerce

The

2011

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

SRI LANK A ECONOMIC SUMMIT

DRIVING GROWTH THROUGH FAST TRACK IMPLEMENTATION
FOR WHOM
Chairmen & CEOs, Directors, Senior Managers, Managers, Executives, Management Trainees, Foreign Investors Senior Government Officials & Academics

Ceylon Chamber of Commerce

The

2011

KEY BENEFITS TO PARTICIPANTS

Enhance your knowledge on government plans to develop the Sri Lankan economy and progress in implementation of plans Opportunity to meet and network Ascertain potential sectors and projects for investment in Sri Lanka Opportunity to clarify your concerns with key government officials and industry leaders

The Ceylon Chamber of Commerce

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 opportunity.

THE CEYLON CHAMBER OF COMMERCE presents

SRI LANKA ECONOMIC SUMMIT 2011

Driving Growth through Fast Track Implementation
The Governments vision is to make Sri Lanka a key economic centre in Asia. It is targeting to raise economic grow th 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 have been 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 ta xation 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 Track Implementation. Ministers, Key Government officials and 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 grow th 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 as starting a business, obtaining construction permits, paying ta xes 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 modernization of 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 grow th in productive sectors, is fundamental for accelerating grow th. It is of greater significance to Sri Lanka when the country has stepped on a new grow th 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 grow th 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.

Opening Ceremony of the Sri Lanka Economic Summit 2011 9.00 10.30 am Inaugural Session
Welcome Address Prof Lakshman R Watawala Chairman, Economic Summit Steering Committee Address by Dr Anura Ekanayake Chairman, The Ceylon Chamber of Commerce Chief Guest: Hon Basil Rajapaksa Minister of Economic Development Sri Lanka Beyond 2011... The Governments Vision, Plans and Progress towards Accelerated Growth and Development. Keynote Address by Dr P B Jayasundara Secretary to the Treasury Ministry of Finance and Planning 10.30 11.00 am Tea break

Plenary Sessions & Speakers

DAY 1 (Monday, 4th July 2011) 11.00 1.00 pm Plenary Session 1 Attracting Investments The Ease of Doing Business
The Sri Lankan economy, which lost many oppor tunities during the near three decade war, has come alive in the last t wo years with the end of the battle with the LTTE. Last year the countr y registered an economic growth of 8%, the highest for the last three decades. It is projected to improve fur ther 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 impor tant 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 for ward.

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 - Ta x 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 2 Financial Sector Challenges

The Financial sector plays a pivotal role in the development of any economy directly contributing to the economy and by providing a considerable suppor t 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 activit y over the last year. Growth 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 t wo years af ter 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 minutes Moderator: Mr Saliya Rajakaruna - CEO, Nations Trust Bank Ltd 3.30 3.45 pm Tea break

Plenary Sessions & Speakers

3.45 5.30 pm Plenary Session 3 Growth Opportunities in Tourism
The Tourism industr y in Sri Lanka which has struggled to sur vive 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 necessar y infrastructure and suppor t 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 oppor tunities for investment. It will be followed by a panel discussion where industr y leaders and investors will express their views and respond to questions 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 4 New Growth Opportunities - ICT/ BPO
The IT/BPO Industr y is one of the fastest growing sectors in Sri Lanka and is identified as the fif th largest expor t earner in the countr y, with current earnings estimated at around US$400mn per annum. The Governments aim is to encourage the industr y to reach USD 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 t of 2011 ranked Sri Lanka at No 21 among the top 50 outsourcing destinations in the world. Global ser vices has ranked Colombo among the top ten emerging outsourcing cities in the world among the top 100 destinations, mainly in recognition of the cit ys capacit y to of fer Finance and Accounting Outsourcing ser vices. 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 exper ts from the IT and BPO sectors speaking on prospects and challenges to develop the sector in achieving the targets set out for the industr y.

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

Plenary Sessions & Speakers

11.00 12.30 pm Plenary Session 5 New Growth Opportunities - Higher Education and Skills Development
Human 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 the latest Knowledge Economy Index (KEI) published by the World Bank which indicates the extent we need to progress. The Universit y education in Sri Lanka is dominated by the state and it is unable to meet the demand and the qualit y 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 universit y, only 17.2% gained admission to the Universit y, due to capacit y limitations. Besides, with the upsurge in economic activit y, many industr y sectors are encountering shor tages in skilled manpower availabilit y. The Government is in the process of opening the higher education segment for private sector investment. This is expected to increase the domestic capacit y of universit y education. Similarly, initiatives are also being taken by Government and non-Government institutes to develop vocational skills. Exper ts 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 Education Mr Panitha Ratnayake - Assistant Director, Job Placements and Career Guidance, Vocational Training Authority of Sri Lanka Dr 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 Por t Development project, Mattala International Airpor t, Expansion of the Colombo Por t etc, with a view to facilitating Sri Lanka to become a key logistics centre. Exper ts from Por ts, 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 Ltd Address by Mr Prasanna Wickremasuriya - Chairman Airport & Aviation Services (SL) Ltd (A ASL)
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 Security

The Agriculture sectors contribution to the overall economy stands at 12% in Sri Lanka, much lower than that of industr y and ser vices but it has a far more significant impact on the people. Sri Lanka has now reached self suf ficiency in rice, its staple food and produces almost the entiret y of the vegetables required for domestic consumption. However Sri Lanka depends on impor ts for some of the key food products such as Milk, Sugar & Fish. In the wake of recent climatic changes which lead to massive destruction of food produce, it is necessar y for all countries to strive for reasonable levels of food securit y in the main items in the food basket of a countr y. Unlike in the past, dependence on impor ts have become risky as food expor ting countries are sometimes forced to impose expor t bans at shor t 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 suf ficiency 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 PLC Plantations: Mr Vish Govindasamy - Group MD, Watawala Plantations PLC Food Security: Ms Azeb Asrat - Dep Country Director, UN / World Food Programme
PANEL DISCUSSION ...continued overleaf

Plenary Sessions & Speakers

B. Agriculture, Plantations and Food Security ...contd.
PANEL DISCUSSION Mrs Dawn Austin - Past President, Sri Lanka Fruit & Vegetable Producers, Processors and Exporters Association Mr Prabash Subasinghe - Managing Director, Global Seafood (Pv t) Ltd Mr Amanda Weerasinghe - Managing Director, Almar Trading Co (Pte) Ltd Mrs Janaki Kuruppu - Chairperson, Regional Development Bank Moderator: Mr Rizvi Zaheed - Managing Director, Hayleys Agro Products Ltd

C. Healthcare and Health Insurance

In comparison to many other developing countries, Sri Lanka possesses a good healthcare system, carried out by both the state and the private sectors. Repor ts indicate that about 50% of healthcare ser vices are funded by the state with about 5% funded by voluntar y health insurance schemes and the remainder being funded by individuals. Change in living st yles, socio-economic conditions and increase in chronic illnesses exer t more demand on healthcare ser vices. Besides high and rising cost of healthcare ser vices and low public expenditure on healthcare also require consideration of alternate mechanisms of financing. The session will have resource persons from the public sector, private sector and the insurance industr y to discuss and identif y strategies to overcome the oppor tunities and challenges 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 DISCUSSION Mr Ajith Tudawe - Chairman, Durdans Hospital Mr Lakith Peiris - CEO, Lanka Hospitals PLC Moderator: Mr Manjula De Silva - Managing Director, HNB Assurance Ltd

D. Construction
The construction sector is yet another segment of the economy that is performing well. The mega construction projects initiated by the Government in Por ts, Airpor ts, Highways etc; development of other sectors such as Tourism; Reconstruction of Nor th and East; Expansion of the Housing and Real Estate sector have all contributed to the growth of the Construction Sector. However, as most of the construction projects are under taken directly by the Government with foreign contractors, the scope for private sector involvement in these and development of local capacit y is restricted. The prevailing construction boom in the countr y is an ideal oppor tunit y to develop local capacit y. The session will consist of a keynote address on the Masterplan for development of Colombo Cit y and it will be followed by a panel discussion where several private sector contractors are expected to air their views on how to take for ward the sector.

Masterplan for Colombo Keynote Speaker: Government Representative Address by Prof Chitra Weddikkara - Professor of the Department of Building Economics, University of Moratuwa PANEL DISCUSSION Mr Dakshita Thalagodapitiya - Secretary General, Chamber of Construction Industry Sri Lanka Deshabandu Surath Wickramasinghe - Chairman, Surath Wickramasinghe Associates (Pvt) Ltd Capt M G Kularatne - Chairman/MD, MAGA Engineering (Pvt) Ltd Mr Rohan Tudawe - Managing Director, Tudawe Brothers Ltd Mr Harsha De Saram - Vice Chairman, International Construction Consortium (Pvt) Ltd Mr Sumal Perera - Chairman, Access International (Pvt) Ltd Mr 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 7 Breaking the Bottlenecks in Development

This session with the Parliamentarians from the Government and the Opposition will provide an oppor tunit y for them to express their views and discuss key issues af fecting economic development in Sri Lanka before an audience consisting of private sector leaders. The audience will similarly have the occasion to interact with the parliamentarians, posing questions and proposing solutions, on matters af fecting their businesses and national development.

PANEL DISCUSSION Hon Champika Ranawaka MP - Minister of Power and Energy Hon Naveen Dissanayake MP - Minister of State Management Reforms Hon Rauf Hakeem MP - Minister of Justice Hon Sajith Premadasa MP Hon (Dr) Harsha De Silva MP Hon Rajavarothiam Sampanthan MP or Nominated representative Hon Vijitha Herath MP Moderator: Ms Savithri Rodrigo

REGISTRATION FORM
I wish to participate in the Sri Lanka Economic Summit and enclose herewith a cheque*/cash for Rs.
* Payment by cheque for MEMBERS ONLY please

(Continued from front)

SRI LANK A ECONOMIC SUMMIT

DRIVING GROWTH THROUGH FAST TRACK IMPLEMENTATION

Ceylon Chamber of Commerce

The

2011

Cheque No: Bank: Signature:

REGISTRATION FORM
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 Fa x : (+94 11) 2437477 / 2449352 E-mail : irangika@chamber.lk

(For additional applications, please photocopy)

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

REGISTRATION FEE
LOCAL PARTICIPANTS

Last Name: Job Title: Company Name: Company Address:

@ LKR 20,000/=
(including local taxes) For 3 or more bookings

@ LKR 18,000/=
(including local taxes)
Direct Tel: Direct Fa x: E-mail: Central Tel: Central Fa x:

FOREIGN PARTICIPANTS

@ USD 250/=

rry!!! hu

Please indicate by marking your preference in which Breakout Session you would like to participate Breakout Session A Logistics (Por ts, Shipping & Aviation) Breakout Session B Agriculture, Plantations and Food Securit y Breakout Session C Healthcare and Health Insurance Breakout Session D Construction

n istratio Reg closes on 11 e 20 30th Jun

PLATINUM SPONSOR:

GOLD SPONSOR:

SILVER SPONSOR:

BRONZE SPONSOR:

SPONSOR:

ELECTRONIC MEDIA PARTNER

PRINT MEDIA PARTNER

BUSINESS/DIGITAL MEDIA PARTNER

COMMUNICATIONS PARTNER

HOST HOTEL

For further information, contact:

Ceylon Chamber of Commerce

The

50 Nawam Mawatha, Colombo 2, Sri Lanka Tel : + 94 11 5588871 / 5588800 Fa x: +9411 2449352 / 2437477 Email: irangika@chamber.lk www.chamber.lk