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* Sri Lanka targets US$ 5 billion foreign investment by 2016
Sun, Aug 10, 2014, 11:33 am SL Time, ColomboPage News Desk, Sri Lanka.

Aug 10, Colombo: Under a new programme launched by the Board of Investment of Sri Lanka, Sri Lanka targets US$ 5 billion as direct investments by the year 2016.

The country's investment promotion agency, said there is an unprecedented 72 percent of growth in the country's foreign direct investments (FDI) during the last 8 years.

Sri Lanka has recorded US$ 9.8 billion as foreign investments during the period of 1978 to 2013 and out of that US$ 7.14 billion have been received during the period 2006 to 2010.

The investments in the country last year alone amounted to US$1.3 billion and the BOI expects US$ 2.5 million this year as FDI.

According to a new programme launched recently under the patronage of the President Mahinda Rajapaksa recently at Temple Trees, the agency targets US$ 5 billion by the year 2016. It expects to increase the amount to US$ 8 billion by 2020.

The agency expects the increased investments to create about 15,000 job opportunities are to be created by these investments. The BOI has also implemented a number of programs to motivate foreign investors to start ventures in Sri Lanka.

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