Lankapage Logo CP 19 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka targets US$ 2.5 FDI this year
Tue, Apr 10, 2018, 10:12 am SL Time, ColomboPage News Desk, Sri Lanka.

Apr 10, Colombo: The highest foreign direct investment in the history of Sri Lanka has been recorded during the year 2017, according to the Finance Ministry.

The foreign direct investments received by the country during 2017 is around US$ 1.9 billion (Rs. 290 billion), a four-fold increase from 2016. The first tranche of US$ 300 million granted for the lease of the Hambantota harbor is also included in 2017 figure.

The previous highest FDI received was US$ 1.7 billion in 2014.

Foreign direct investments in 2015 and 2016 were US$ 970 million and US$ 450 million respectively.

In 2017 the highest FDI inflows came from China, followed by Hong Kong, India and Singapore, the Finance Ministry said.

According to the Finance Ministry efforts by the Government to improve ease of doing business, provide an environment conducive to investment, reduce red tape and introduce simple taxes and one-day registration of businesses are reasons for the rise in FDI.

Also the measures taken to increase the FDI and exports to resolve the balance of payments problem have contributed to the increased FDI.

In 2017, exports have also increased considerably, and compared to January 2017, the exports in January 2018 has increased by 11.6 percent, the Finance Ministry said.

The Sri Lankan government plans to attract up to US$ 2.5 billion Foreign Direct Investments in 2018 and to double it to US$ 5 billion by 2020.

 

ColomboPage - Recent 10 Stories ::
Pakistan offers numerous scholarship opportunities for Sri Lankan students
-- [6 hours ago]
Minister Ranjan Ramanayake says list of 24 MPs using drugs handed over to Speaker
-- [6 hours ago]
France supports Sri Lanka's fisheries sector to cut post-harvest losses
-- [6 hours ago]
Speaker to table the committee report on disorderly conduct in parliament on Friday
-- [7 hours ago]
Sri Lanka Navy, PNB arrest three people at sea with 20 kg of Kerala Cannabis
-- [9 hours ago]
Fitch downgrades SLT, CEB & DSi, upgrades Lion's Brewery on Sri Lanka National Rating Scale Revision
President emphasizes uplifting underprivileged in urban areas under the Gramashakthi Movement in future
IOM conducts user training workshop for National Police Commission on new Public Complaint Management System
Education Ministry to take action against spreading false rumors regarding Suraksha Insurance
Indian national dies at Sri Lanka's international airport

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.