Visiting global President of the Chartered Institute of Marketing (CIM) and British businessman and equity market investor Sir Paul Judge was upbeat on the future prospects of Foreign Direct Investments into Sri Lanka with the arrival of top leisure brands such as Shangri La.
Sir Paul, who is in Sri Lanka at the invitation of External Affairs Minister Prof. G.L. Peiris, to promote the cause of promoting higher education in Sri Lanka, told The Island Financial Review, "The fact that there are other international hotel brands are present here and other agencies such as the Asian Development Bank assisting a large number of infrastructure development projects bears eloquent testimony to the development of growth prospects in the post war era and the economy is growing at an excellent rate."
Responding to a question as to how he sees the FDI sector in the future in the light of below expectation inflows in recent years, he said that it took a little more time to believe that the conflict was over and that was no longer an issue.
He said that investors were now seeing prospects in the apparel industry and that British apparel buyers were increasing their imports substantially which speaks volumes of the vote of confidence on Sri Lanka.
He also said that the government’s growth target of 6-8% was realistic and the business development were excellent which would mean that the GDP would double in ten years.