Foreign investments in Sri Lanka 1978 - 2009:
Half received in 2006 to 2009
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.