Foreign direct investment in to Sri Lanka doubles to US442mn in 1Q

Directory launched in the presence of Jagath Perera, CA Sri Lanka President, Manil Jayesinghe, CA Sri Lanka Vice President, Harsha Basnayake, Ernst & Young Asia Pacific Transaction Advisory Managing Partner, Aruni Rajakarier, Chairperson of the CA Sri Lanka Women Empowerment Committee, Anoji De Silva, Alternate Chair of the Women Empowerment Committee and Dulani Fernando, CA Sri Lanka CEO

May 29, 2014 (LBO) – Foreign direct investments into Sri Lanka doubled from a year earlier to 442 million US dollars in the first quarter of 2014, investment promotion minister Lakshman Abeywardena said. This year Sri Lanka is expecting 1.5 billion US dollars Minister Abeywardena said.

He said 36 percent of the investments came into tourism, 26 percent into utilities, 15 percent into infrastructure, 7 percent into industry and 4 percent into apparel.

In the first quarter 40 new projects were approved, and 38 agreements signed.

During the first quarter 27 have begun construction and 26 firms have started operations, Abeywardena said.

In 2013 Sri Lanka had attracted 1,398 million US dollars worth investments.