FOREIGN INVESTMENT INFLOW TO RISE
The Sri Lankan government is hoping to bring in foreign direct investments (FDI) worth US$ 3 billion in 2019 with discussions on several mega projects with international investors currently underway.
According to Minister of Development Strategies and International Trade Malik Samarawickrama, Sri Lanka attracted FDI of about 2.2 billion dollars in 2018. The political instability towards the end of the year is said to have stalled some of the anticipated foreign investments but those investments are being re-discussed for the current year.
Samarawickrama noted: “We are negotiating on a huge refinery and a steel manufacturing plant in Trincomalee in eastern Sri Lanka. If these investments come in, we will have a substantial inflow of FDIs by [the] end of this year.”
The government aspires to draw US$ 5 billion worth of FDI by 2020.