BOI achieves 50 percent of ITS investment targets

Board of Investment

Source:Sundayobserver

The Board of Investment (BOI) of Sri Lanka has achieved about half of its investment targets for the year. The BOI had set a target of US$ 2000 million for this year as part of its new Investment Promotion Initiative, BOI Director General Renuka Weerakoon told the Sunday Observer.

The BOI has registered 75 investment projects totalling 1,290 million US dollars and signed 26 new projects. The remaining 49 projects are set to be expanded, she said.

She said that the country received 228 million US dollars in investment in the first quarter of the year and that it would not be difficult to meet the Board’s set target of 2,000 million US dollars under the current conditions.

The BOI has brought in foreign direct investments totalling 2,020 million US dollars to the country since its inception.

She said the BOI currently manages approximately 1,500 industries..

The BOI currently oversees approximately 1,500 industries.

There are 280 projects in the Free Trade Zones.

More than 500,000 Sri Lankans are employed by BOI industries, with 140,000 working in Free Trade Zones.