Sri Lanka’s Hayleys Group confident of economic recovery despite Covid 19 surge
Sri Lanka’s Hayleys Plc has reportedly stated that it remained optimistic of revival of the economy and further corporate growth in the future in spite of the surge in Covid-19 cases in the country.
“Despite the resurgence of COVID-19 infections in recent weeks, we remain optimistic regarding a medium-term economic revival, given the conducive policy environment and Government efforts to ensure continued business activity,” Hayleys Plc Chairman Mohan Pandithage has been quoted as saying in the local media.
“We expect our export-oriented businesses to maintain their growth momentum while the strong rebound of our domestic businesses seen in the second half of the year is expected to continue in 2021/22,” he has said.
“Our optimism is demonstrated by continued investments in expanding our operations and driving increased economic value, as evidenced by the Group’s recent acquisition of South Asia Textiles Ltd., which is expected to further strengthen our proposition in the textiles sector,” the Hayleys Chief has further noted.
“Our team has embraced the realities of a post-pandemic world, through adapting to new ways of working. I have a special word of thanks to Dhammika Perera, the Board of Directors and the Group Management Committee who steered the Group to deliver these exceptional results,” Pandithage has added.
OSL take:
Sri Lanka’s economy has shown great resilience to external and internal challenges through the years and is once again on the path to recovery after facing the impact of the global Covid 19 pandemic. Several key economic sectors in the country have continued operations through the Covid 19 lockdown last year as well as travel restrictions imposed this year. The expansion in several key economic sectors has opened up many business opportunities in the country. Also, Sri Lanka is fast becoming a business hub in the South Asian region given it’s geographical positioning in the Indian ocean and the many trade agreements as well as trade concessions enjoyed by the country. Foreign businesses/investors could therefore explore business/investment opportunities in Sri Lanka.
| Article Code : | VBS/AT/20210524/Z_5 |