SRI LANKA NEWS IN BRIEF (MARCH 2018) - Compiled by Victor Melder Archives

SRI LANKA NEWS IN BRIEF (MARCH 2018) – Compiled by Victor Melder Direct Investment (FDI) into Sri Lanka has grown to over 1.63 billion US dollars in 2017, doubling the 802 million dollars achieved in the previous year. The Board of Investment (BOI) reported that 1.63 billion dollars achieved in 2017 is the highest ever surpassing the 1.61 billion dollars in 2014, with significant growth across key sectors. “The strong growth is a direct consequence of the Government’s reorientation of economic policy towards investment and export driven growth, rather than debt-funded public infrastructure spending,” the BOI said. Among the highest growth sectors were export-oriented Manufacturing (+27%), Services which includes Tourism and IT (+50%) and Infrastructure (+190%). The highest FDI came from China, followed by Hong Kong, India and Singapore. The BOI, under the Ministry of Development Strategies and International Trade, is the first point of contact for foreign investors into ...