Sri Lanka’s state owned investment promotions agency, the Board of Investment (BOI) has reportedly announced that globally renowned Michelin is set to begin manufacturing in Sri Lanka.
The world’s largest sovereign wealth fund, Norges Fund, has reportedly increased its equity investments in Sri Lanka by 15.3 percent to US$ 98.3 million in 2018.
The US Department of State’s FY 2020 budget has reportedly requested a total of US$ 32.58 million to support Sri Lanka’s economic development, demining and border control programmes.
Sri Lanka’s second largest IT company, IFS, which is a global leader in enterprise software is reportedly further expanding its investment and operations in the country by doubling office space and increasing staff by over 40%.
Sri Lankan conglomerate John Keells Holdings (JKH) is reportedly building a logistics facility with an investment of US$ 13.96 million will provide a range of services for businesses, from inventory management and value addition to managing returns.