German companies invested USD98mn from 2005 to 2016: BOI

Oct 26, 2017 (LBO) – German companies had invested an estimated 98 million US dollars from 2005 to 2016 in the Island nation even though there is a drop of investment last year, Sri Lanka’s Board of Investment revealed.

According to data released by the Board of Investment, Foreign Direct Investment from Germany has dropped to 2.4 million dollars in 2016 from 14.5 million dollars in 2015.

Germany is Sri Lanka’s second largest investor from the EU and many of the German Companies operating in Sri Lanka are global leaders in their field of specialization and investment.

Their investments represent projects in steel and high precision moulds, windsurfing sails, Chemicals, Foundations garments, Knitwear, Tools, Garments electronic items, rubber based products, coir products, toys, gems and Jewellery and tourism.

Sri Lanka is very keen to attract German investments and targeting areas such as the IT and IT enabled services, research and development, Textile and apparel, higher education skills development, Agriculture and food processing, tourism, infrastructure and automotive components.

investment from german