Ceylon Chamber and Oxford Business Group sign second MoU

Sri Lanka’s twofold bid to build economic momentum and improve investor sentiment on the back of a US $ 1.5 billion funding pledge from the International Monetary Fund (IMF) will be analysed in a report by the global publishing firm Oxford Business Group (OBG).

The IMF expects Sri Lanka’s economy to expand by 5 percent in 2016, which would represent a three-year high. ‘The Report: Sri Lanka 2017’ highlights the economic sectors that are expected to generate new growth, including tourism, ICT and transport. The publication also shines a spotlight on Sri Lanka’s construction industry, which is poised for a period of heightened activity.

In addition, OBG’s report provides detailed coverage of the challenges Sri Lanka faces, led by the knock-on effects of a cooling in the Chinese economy, the slow pace of global recovery and pressure to keep fiscal reforms on track.

OBG has signed a Memorandum of Understanding (MoU) with the Ceylon Chamber of Commerce (CCC), which will result in the chamber representatives once again partnering with OBG to compile and produce ‘The Report: Sri Lanka 2017’.

Under the MoU, the CCC, which is the premier business chamber in Sri Lanka, will act as an official research partner of OBG, when compiling ‘The Report: Sri Lanka 2017’.
CCC Chairman Samantha Ranatunga said he expected the partnership to chart Sri Lanka’s plans for boosting both foreign direct investment (FDI) and exports with added value.
“Sri Lanka is in the midst of transition, with major policy changes and new initiatives aimed at broadening the country’s economic base gathering momentum,” he said. 

“I look forward to partnering with Oxford Business Group once again to explore the new openings emerging for investors as Sri Lanka’s development progresses.”
OBG Country Director for Sri Lanka Andrea Tsiachtsiri welcomed the opportunity to continue working with the chamber’s representatives, noting that the synergy resulting from the partnership had given OBG’s 2016 report an added dimension.