(LANKAPUVATH | COLOMBO) – State Minister of Investment Promotion Dilum Amunugama says that despite the economic contraction, Sri Lanka’s investment promotion agency , Board of Investment (BOI) has attracted investments worth US$ 1.8 billion and US$ 1.5 billion of them are foreign direct investments (FDI).
Participating in a program of progress review and awareness of the investors contracted during this year held by the Board of Investment, the State Minister revealed that the Board of Investment has managed to increase the value of approved and registered projects to US$ 1.8 billion during the period from 01 January 2023 to 23 November 2023.
The most notable feature here is that the acquisition of foreign investment projects showed a growth of 122% compared to the previous year while the domestic investment shows a slow progress compared to last year,.
Also, this year the Sri Lanka Board of Investments has been able to approve several new projects that will lead the direction of the country’s energy sector to a new direction.
Significant increase in projects is due to the high value of investments in the energy sector and High value investments such as Adani Corporation, Sinopec, RM Parks (with Shell) will make a significant difference in the energy sector of this country in the future, hesaid.
Apart from this, significant investments are also seen in tourism, information technology, BPO, communication, and manufacturing sectors.
China, India, US, Hong Kong, UAE, France, Korea, Germany and Singapore are the countries that will join the investment framework during this period of 2023, Minister Amunugama added.