Sri Lanka gets US$1.3bn in FDI by October: Ministry of Investment Promotion

Oct 11, 2014 (LBO) – Sri Lanka is estimated to have received about 1.3 billion US dollars of foreign direct investment by October 2014, investment promotions minister Lakshman Abeywardene said. There will be 23,600 new jobs created if these FDI’s successful.

BOI enterprises have exported 4.84 billion US dollars’ up to October worth of goods and services up 17 percent a year earlier while 3.184 billion US dollars’ worth of raw material and project related items imported.

Global FDI has been estimated about 1.46 trillion US dollars in 2013. About 52 percent has been invested in developing economies. About 406 billion US dollars has been invested in developing Asia last year.

BOI says Sri Lanka shows an increasing trend where the Island had received 7,141 million dollars in 2013 up 72 percent from year 2006.

Sri Lanka received 442 million dollars in the first quarter of 2014 compare to 219 million dollars in the same period last year.

For 2014 Sri Lanka targeted 2.0 billion US dollars of investments and the minister said it is likely the target will be met. However 640 million dollars of investment is still lacking to achieve the targets.

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