BOI aims $8.8 bln as export income in 2016
View(s):Sri Lanka’s Board of Investment (BOI) has embarked on an ambitious export promotion plan to contribute its share towards achieving the national target of US$18 billion worth of exports by 2016.
The BOI plans to earn $8.8 billion worth of exports by 2016 under this initiative.
The performance of BOI registered companies will be enhanced while attracting more foreign companies to set up joint ventures in the country under this plan, Minister of Investment Promotion Lakshman Yapa Abeywardena said.
Sri Lanka has attracted over $1.2 billion Foreign Direct Investment (FDI) up to November this year and the BOI is optimistic in achieving the US $ 2 billion target, he disclosed. The FDI target for next year is $2.5 billion.
He revealed that 65 per cent of total FDI came from the Asian countries making a shift of FDI inflows from the West. Chinese investments accounted for 24 per cent of the total investment followed by Hong Kong, 12 per cent and Singapore 10 per cent. Some 10,000 employment opportunities have been created this year and the Ministry of Investment Promotion plans to create 10,000 more jobs next year. Domestic investments in key areas like airline services, hotels, telecommunications and manufacturing sectors have continued to grow and recorded $403 million during the first nine months this year, Minister Abeywardena said.