Jan-May 2015 agreements by BOI reflect Sri Lanka’s diversified economic base
View(s):In the period from January to May 2015 the Board of Investment of Sri Lanka (BOI) signed 42 investment agreements with enterprises representing a vast range of sectors which reflect the growing diversification of Sri Lanka’s economic base and exports.
These include such diverse sectors as mini hydropower plants, software development, tourist hotels, apparels manufacturing, apartment complexes, BPO for legal services, hospital, satellite TV broadcasting, plantation, leisure and cruise services and logistics operations, etc. Of these a total of 36 were new agreements and six were expansions of existing projects, the BOI said in a media release.
The estimated value of these agreements was foreign investment worth the equivalent of Rs. 6.8 billion (or US$ 51 million) and local investments of Rs. 17.7 billion. The total estimated value of the signed agreements was Rs. 24.5 billion.
In the period under review the highest value of signed agreements for new projects was in the service sector totalling Rs. 6.7 billion (25.11 percent) followed by Tourism and Leisure Rs. 4.7 billion (19.41 per cent), Utilities Rs. 3.7 billion (15 per cent) and Agriculture Rs. 3.3 billion (13.36 per cent).
An estimated 5,141 employment opportunities are to be created by the projects signed in the five months to May 2015.