Leading Economist Jim Walker has said that Sri Lanka is poised to benefit from China’s Belt & Road Initiative (BRI), local media reports said here Tuesday.
Delivering the keynote address at the Asia Securities Annual Sri Lanka Investment Conference in capital Colombo, Walker, Chief Economist of Asianomics Group and Aletheia Capital, said that despite a slowdown in Sri Lanka, the outlook for the county is positive thanks to the opportunities generated from the BRI, and if macroeconomic fundamentals are set in place.
Walker, who predicted two financial crises, noted that Asian markets including Sri Lanka have chosen to partner with the BRI in order to gain economic benefits from greater connectivity.
He added that Sri Lanka in particular has high mobile phone penetration and broadband connectivity, giving it fertile ground for growth in e-commerce activities.
“The penetration was incredible over the past decade and that is what will drive economic growth in Sri Lanka,” Walker said.
Sri Lanka is one of the first country’s to support China’s BRI and has benefited from investment in energy and transport infrastructure.