• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home Business & Finance Economic Policies

Sri Lanka looking at listing a state holding company in stock exchange: President todayheadline

January 29, 2025
in Economic Policies
Reading Time: 3 mins read
A A
0
8
SHARES
18
VIEWS
Share on FacebookShare on Twitter


ECONOMYNEXT – Sri Lanka is looking at listing a state holding company in the stock exchange of commercial enterprises and consolidating or closing other agencies which are a burden on state finances, President Anura Kumara Dissanayake said.

There were corporations, boards and other agencies which were creating a problem, he said.

“We need a new plan for administration,” President Dissanayake told an economic forum organized by Sri Lanka’s Ceylon Chamber of Commerce.

“The system is unsuccessful and very corrupt. So there is a burden for government finances.

“Instead of looking at it in the old angle, we are ready for a structural change of these institutions.

“We are looking at whether we can combine them into a holding company and sell to the stock market. We are ready for that.”

Countries like Vietnam in East Asia, have progressed by divesting individual companies where investors can choose which type of business sector to invest.

The State Capital Investment Corporation of Vietnam operates like an investment managers which owns state enterprises and lists them in the Hanoi and Ho Chi Minh Stock Exchange in a process called ‘equitization’.

When Sri Lanka’s then administration expropriated a number of private companies including two listed companies, in 2011, SCIC started the listing of Bank for Investment and Development of Vietnam (BIDV).

BIDV closed at 40,000 dong, up 100 on Tuesday. Other state banks like Vietnam Joint Stock Commercial Bank For Industry And Trade (VietinBank) is also listed, after a strategic stake being sold to Japan’s Mitsubishi UFJ Financial group.

VietinBank Trade Union is also a shareholder. The stock closed at 38,000 dong, down 100 on Tuesday.

Among the most successful firms which have become foreign investor darlings are Vinamilk, originally state enterprise built by expropriating multinationals in South Vietnam including Nestle and Friesland (Dutch Lady). 

Both Dutch Lady and Nestle are back in Vietnam.

Vinamilk has also invested in the US. Under the US-Vietnam free trade agreement firms in both countries and invest in each other countries.

Meanwhile President Dissanyake said there were a number of other non-commercial agencies which are a burden to the state that a committee under the Prime Minister’s Secretary is looking at.

“There several agencies that do the same thing,” President Dissanayake explained. “Some agencies were build for a need that existed at that time.

For example, the government has several construction companies. We had to do it at the time because there were no strong private contractors. But now there are strong external contractors who are efficient.

“Now do we have to maintain them? We will have to close them, combine them, and some we have to change their role.

“These are challenging things to do.”

Sri Lanka is expected to grow around 4 percent in 2025, as the economy recovers from the latest currency crisis, he said.

Sri Lanka has suffered a series of currency crises with credit bubbles fired through flexible inflation targeting to generate 5 percent inflation or money printing for growth (targeting a potential output gap) followed by stabilization crises that kill growth for at least two years. (Colombo/Jan30/2025)

Tags: companyexchangeHoldingLankaListingpresidentSristateStocktodayheadline
Previous Post

Experimental XB-1 aircraft goes supersonic for the first time todayheadline

Next Post

Weave communications director Blake Modersitzki sells $24,675 in stock todayheadline

Related Posts

Sri Lanka foreign exchange earnings exceed imports by $531mn in April 2025 todayheadline

May 31, 2025
3
ET logo

Alf Clausen, Iconic ‘Simpsons’ Composer and Emmy Winner, Dies at 84 todayheadline

May 31, 2025
8
Next Post

Weave communications director Blake Modersitzki sells $24,675 in stock todayheadline

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0

Moderna Receives U.S. FDA Approval for COVID-19 Vaccine mNEXSPIKE todayheadline

May 31, 2025

Sri Lanka foreign exchange earnings exceed imports by $531mn in April 2025 todayheadline

May 31, 2025
Venus as a morning star

Venus at greatest western elongation

May 31, 2025
Crews battle fire burning in Pala, evacuations in San Diego County

Crews battle fire burning in Pala, evacuations in San Diego County

May 31, 2025

Recent News

Moderna Receives U.S. FDA Approval for COVID-19 Vaccine mNEXSPIKE todayheadline

May 31, 2025
4

Sri Lanka foreign exchange earnings exceed imports by $531mn in April 2025 todayheadline

May 31, 2025
3
Venus as a morning star

Venus at greatest western elongation

May 31, 2025
4
Crews battle fire burning in Pala, evacuations in San Diego County

Crews battle fire burning in Pala, evacuations in San Diego County

May 31, 2025
5

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Cybersecurity
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

Moderna Receives U.S. FDA Approval for COVID-19 Vaccine mNEXSPIKE todayheadline

May 31, 2025

Sri Lanka foreign exchange earnings exceed imports by $531mn in April 2025 todayheadline

May 31, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co