Foreign investments in Sri Lanka 1978 - 2009:

Half received in 2006 to 2009

Harshini Perera

Sri Lanka received fifty percent of the total investments during the three years 2006-2009. The country received US$ 2,500 million out of the total investments of US$ 5,000 million from 1978 to 2009, Deputy Director General (Investments and Promotions), Board of Investment (BOI), A.M.C. Kulasekera told Daily News Business.

He said that investors are satisfied with the procedures, strategies and management approaches Sri Lanka has adopted to attract more investors to the country. Investors have increased investments. The BOI provides varied facilities such as infrastructure, contribution for development and improved procedures.

Sri Lanka recorded a 20 percent growth in investments despite the world's economic recession whereas in other countries there was a drop in investments this year from 40-60 percent.

The investments are directed to sectors such as Power, Telecommunication, Tourism, Manufacturing, IT, Infrastructure, Property development and even education institutes in Sri Lanka, he said.

He said that more projects on road development, development of Airport,Ports and industrial zones will be launched in the future. A new industrial zone in the Mirigama area with an investment from China is due to commence operations within two months. There was an increase in investments - US $ 604 million in 2006, US $ 734 million in 2007, US $ 888 million in 2008 and US $ 250 million in the first half of 2009.

Delegations from China, Japan, Singapore, Korea, Thailand and Malaysia visited Sri Lanka for discussions. Many countries have shown an interest in investing in Sri Lanka.

Among them are Malaysia, India, Luxemburg, China and the Middle East countries. There will be more investments on technology, office space construction and hotels in the near future as the country's economy is stabilizing, he said.