Sri Lanka raises US$ 340 mn in foreign investments: BOI

CEAT Kelani Holdings Managing Director Ravi Dadlani (right) and Lanka Ashok Leyland CEO Umesh Gautham exchange the OEM agreement

October 18, 2006 (LBO) – Sri Lanka has managed to attract just over 340 million dollars in foreign investments for the eight months to July, the Board of Investment said Wednesday on account of telecom and clothing related projects. Over 60 percent of the investments have so far come from telecommunications, software developments and business process outsourcing or BPO firms, BOI’s Executive Director Research Nihal Samarappuli told reporters.

Clothing, the island’s top export earner, came a distant second, as some of the bigger local manufacturers teamed up with foreign suppliers to set up plants to make fabric here.

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