The Board of Investment of Sri Lanka is now implementing an investment promotion strategy focusing on national development.
A.M.C Kulasekera, Deputy Director General of the BOI, said the main challenge that lay ahead was to harness future Foreign Direct Investment ( FDI) to meet some of the national development goals of the government. Currently the bulk of Sri Lanka’s investment goes into infrastructure, port development, power generation, telecommunications, manufacturing, services including the IT and BPO sectors and tourism, he added .
Sri Lanka has also weathered the current global economic downturn unlike most countries that experienced FDI downturns of 40-60%. Sri Lanka’s performance had been comparatively good, having seen a slight decline in FDI from US$ 889 million in 2008 to US$ 602 million in 2009.
The government is looking at promoting investments in key areas which would impact favourably on the community at large such as investments in Agriculture (including agro industries, dairies and livestock development), Tourism, IT/ BPO, Education and Infrastructure (including township development). An additional sector earmarked for development is port related activities in view of the current expansion and development of the Colombo and Hambantota ports, he said. |
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