Sri Lanka to unveil investment promotion plan targeting $5 bln

Sri Lanka is to unveil an investment promotion plan next month targeting US$5 billion of Foreign Direct Investment in the next three years.

This plan has already been formulated by the Ministry of Development strategies and International trade, Minister Malik Samarawickrema said on Monday. The country was able to attract US $700-800 million last year.
He said that the Board of Investment (BOI) is gearing up for the implementation of the plan and its revitalized one stop shop operations will be launched this week.
The minister made these revelations when he addressed a media conference in Colombo to brief media personnel on the ‘Invest in East 2016’ investment promotion forum to be held in Colombo on Tuesday, January 26.
Sri Lanka’s Eastern District of Trincomalee will also be developed on the lines of the Western Region Megapolis, Mr . Samarawickrema said adding that an economic zone would be established in the area, with Chinese Investor assistance.
He said that he will be visiting China next month to prepare the ground work for Prime Minister Ranil Wickremasinghe’ s official tour of China in March.
The government is to set up two coal power projects 500 MW each with Japanese assistance, he disclosed.
A domestic airport is to be built in Batticaloa soon to attract tourists to the Eastern Province, he revealed adding that a dock yard to build ships will be coming up in Hambantota. (Bandula)