Foreign Direct Investment doubles

Nethali STRUYS

Foreign Direct Investment has shown a 99 percent growth up to June this year compared to last year.

Between January to June last year, the amount of investment was USD 208 million while this year it is USD 413 million, a Board of Investment of Sri Lanka (BOI) spokesperson revealed.

The value of approved projects in 2010 between January to August was Rs 150,226 million while this year the value of investment for the same period is Rs 294,765 million for 92 projects. This indicates a growth rate of 96 percent.

Accordingly, foreign investment has grown from Rs 64,454 million to Rs 184,318 million and the local investment from Rs 85,772 million to Rs 110,446 million. He also revealed that BOI has signed 95 new project proposals with local and foreign investors. It is expected that around 25,000 direct job opportunities will be generated through these agreements.