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* Sri Lanka targets US$ 5 billion in FDI within next 3 years
Wed, Jan 20, 2016, 12:18 am SL Time, ColomboPage News Desk, Sri Lanka.

Jan 19, Colombo: Sri Lanka's investment promotion agency, the Board of Investment (BOI) is targeting US$ 5 billion foreign direct investments to Sri Lanka within the next three years, International Trade and Development Minister Malik Samarawickrema said.

Speaking at the special event hosted in view of the Invest in Eastern Sri Lanka - Expo a& Forum 2016 to be held on January 28 and 29 at the BOI yesterday, Minister Samarawickrema said that this includes two coal power plants in Sampur which will be constructed by an Indian and a Japanese company with a total investment in excess of US$ 500 million.

Samarawickrema said that several Chinese investors are to invest in setting up industries at the Hambantota Harbor area. A Chinese company has also signed up with the BOI to build a Dockyard at the Hambantota harbor.

The Minister also disclosed that as a novel concept they will be conducting several road shows targeting separate countries. These include road shows in the US, Gulf, Japan, Korea, China, Mumbai and other countries.

Minister Samarawickrema also said the government is also planning to have special investment promotion zones in Trincomalee, Kandy, Kalmunai and Bentota. These will be for tourism, industries, fisheries, port and other industries.

He said that the Eastern Sri Lanka - Expo & Forum 2016 will also woo investment not only to the Eastern Province but to the entire country.

He said that last year due to election and change of government investments were below the target. "With political stability retuning to the country and good governance investor confidence has returned to the country."

International Trade and Development Deputy Minister, Sujeewa Senasinghe said that after the Investment Forum conducted by the George Soros Foundation there are several inquiries.


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