Global investors Mark Mobius notes opportunities in Sri Lanka’s fintech and tourism sectors
Mark Mobius, who is an emerging markets investor, recently in Sri Lanka has said he would invest in real estate, financial services where there was potential in fintech and tourism in the island.
“I bought one of the apartments and I can come and live sometime here,” Mobius has told a forum in Colombo organized by Cinnamon Life, real estate project promoted by Sri Lanka’s John Keells Holdings.
“It is lot better to live here than Singapore because I have an apartment here.”
According to Mobius, fintech in Sri Lanka had potential provided regulatory barriers were removed.
He has said that in Kenya, Safaricom, a mobile telecom operator had transformed the country by providing money transfer facilities to millions of customers who had no banking facilities.
Saaricom is a privatized state enterprise which was initially sold to Vodafone and then listed on the stock exchange.
Mobius has reportedly noted that Safaricom was able to help Kenyans ‘leapfrog’ into fintech because there were no regulations to stop the company.
OSL take:
The business/investment opportunities in Sri Lanka noted by global investor Mark Mobius would further boost the confidence of foreign businesses/investors to explore opportunities in Sri Lanka. The two sectors highlighted by Mobius – fintech and tourism sectors – have been recording continuous growth rates in the past few years. Therefore, they pose ideal business/investment opportunities for foreign businesses/investors. Sri Lanka’s geographical positioning in the Indian Ocean, the ease of doing business environment in the country and the many trade agreements as well as trade concessions enjoyed by the country have made it an attractive business destination in the South Asian region.
| Article Code : | VBS/AT/16122019/Z_6 |