03 September 2009

Jim Rogers' Visit Highlights Sri Lanka's Investment Potential

2nd September 2009, www.bi-me.com

Global investor and chairman of Singapore- based Rogers Holdings, Jim Rogers visited Sri Lanka last week in a low-key trip that raised speculation about his views on the island nation's investment potential.

The visit was reported by Sri Lanka's Sunday Times, and "came as a surprise that will certainly stimulate Colombo’s stockmarket which is yet to take off after the LTTE was defeated in May," said the newspaper.

The trip would have generated a lot more local interest had more Sri Lankan investors, particularly in the private sector, been made aware of it.

Speaking at an Economist Conferences forum in Singapore in May, Rogers said he sees 'great, cheap opportunities in Sri Lanka because of dramatic changes in the country after the end of the war'.

Rogers added that China and Sri Lanka are better investment opportunities than India, saying he is skeptical of India's pledges despite the Congress party’s latest election victory.

"Rogers had spent three days in Sri Lanka and also visited Kandy. There was no confirmation as to whether he met corporate bosses or private sector executives and whether he came on invitation from the government (he had met mostly government bigwigs) or flew in as a tourist," said the Sunday Times.

'Rogers has said that he would recommend to investors the sectors that they need to put their money in, and if this is true, that’s a huge boost to Sri Lanka,' the paper added.

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