Sri Lanka’s Board of Investment receives US$ 750 million FDIs in first none months of 2019
Chairman of the Board of Investment (BOI) of Sri Lanka, Mangala Yapa has said the country has received about US$ 750 million of foreign direct investments (FDIs) in the first nine months of 2019.
The Board of Investment is reportedly expecting about US$ 1.5 billion of FDIs for the full year, which is half the US$ 3.0 billion originally targeted for the year.
Yapa has been quoted as saying in the local media that the October 2018 political crisis and the Easter Sunday bombings in April this year had delayed planned investments.
An industrial zone planned with Thailand’s Rojana group is also on hold due to the lack of land.
According to the Board of Investment Chairman, Sri Lanka could target US$ 3 billion in 2021.
OSL take:
Foreign direct investments flowing in to the country have seen an increase due to the positive economic policies implemented by the government of Sri Lanka. Also, Sri Lanka’s geographical positioning in the Indian Ocean, the ease of doing business environment in the country and the many trade agreements as well as trade concessions enjoyed by the country have made it an attractive business destination in the South Asian region.
| Article Code : | VBS/AT/20191119/Z_1 |