Lanka expects highest FDI

Nethali Struys

The Sri Lanka Investment Board (SLIB) expects the highest Foreign Direct Investment (FDI) this year. It will exceed US $ One billion, Sri Lanka Investment Board Chairman Jayampathi Bandaranayake told the Daily News.

The SLIB announced that they have introduced new strategies to increase FDI by four to five percent over the next three years.

Prominent attention will be directed to national development projects to generate more employment opportunities and income avenues, Bandaranayake said yesterday.

The Chairman also pointed out that the BOI should give priority to identify and sell the fundamental investment opportunities to investors rather than blindly responding to project proposals.

When investors are ready to invest in Sri Lanka, the BOI should support them by involving in organizing, guiding and facilitating investment, he said. Under the new strategies the BOI has appointed investment co-ordinating groups under various investing segments. This system covers agriculture, products, manufacturing, tourism and infrastructure facilities and other main segments.