It is excellent that news drops on the same day SOROS says he is...

It is excellent that news drops on the same day SOROS says he is looking for Investments in Sri Lanka and that it is Counter-cyclical to the world destabilizing!!!


George Soros Says Sri Lanka Is Exception to Decline of Financial

http://blogs.wsj.com/indiarealtime/...is-exception-to-decline-of-financial-markets/

• George Soros
• mahinda rajapaksa
• Maithripala Sirisena
• Sri Lanka

Hungarian-born US magnate and philanthropist George Soros attends an economic forum in Colombo on Jan. 7, 2016. Sri Lanka’s new government is trying to woo investors after a year in office.​

Lakruwan Wanniarachchi/Agence France-Presse/Getty Images​

Billionaire philanthropist George Soros delivered a bleak outlook for the world economy at a conference in Sri Lanka this week, but said he was looking for investment opportunities in the island nation.

“You have to lower your expectations…because this is only the beginning of the decline of financial markets and this is just the beginning of Sri Lanka being an exception,” he told the audience at the event in Colombo where attendees included President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe.

After years of feeble foreign direct investment into Sri Lanka, the leaders might have hoped that a visit from Mr. Soros might boost its prospects, but the business magnate had little good news.

He said global conditions echoed those that triggered the 2008 global financial crisis.

“China has a major adjustment problem. I would say it amounts to crisis; when I look at the financial markets there, I see a serious challenge, which reminds me of the crisis we had in 2008 and in my guidance to my investment people I have told them to be very, very cautious,” Mr. Soros said.

“It is a balancing act, to reduce expectations and improve performance. This is my contribution and I’m sorry about it being a bit of a damper,” he said.

Mr. Soros was attending an economic forum organised by his George Soros Foundation, which said it set up the conference in recognition of the democratic steps made by the country’s new government.

Mr. Sirisena came to power a year ago, sweeping away his controversial predecessor Mahinda Rajapaksa after a decade in power. But the change failed to boost, FDI, which stood at $1.6 billion by the end of 2015.

Despite the end of a 27-year war between separatist group the Liberation Tamil Tigers of Eelam and government forces in 2009, FDI into Sri Lanka was less than an average of $2 billion in the six years of subsequent peace.


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Only the tourism sector saw a multi million investment boost from multinational companies.


Mr. Soros did, however, say he was considering investing in Sri Lanka.

“I have people here looking at investment opportunities,” he added.

The government hopes Mr. Soros’s presence in the country will bolster its image and that input from his foundation will spearhead the institutional change crucial to reducing red tape, changing the tax system and reducing corruption.

Sri Lanka’s latest budget included incentives for larger-scale foreign investors, including the possibility that they might be able to own land for the first time, according to Board of Investment Chairman Upul Jayasuriya. Customarily foreign investors can lease land for up to 99 years but large-scale investors could be allowed to own land outright, if the proposals are approved by the government.

The country is also trying to improve its ratings on the World Bank’s Ease of Doing Business Index compiled by the World Bank. After hitting an all-time high rank of 81 in 2013, the country stumbled to 107 in 2015, largely on slow implementation of policy change.

“The idea is to make an effort to bring our rating to about 50 – at least – within twelve months,” Mr. Jayasuriya said but was reluctant to give an FDI target for 2016.

http://blogs.wsj.com/indiarealtime/...is-exception-to-decline-of-financial-markets/​

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Brilliant !!!


Has anyone found the transcript of his speech yet?







Kind Regards

DYOR!!!!