Sri Lanka expects US$5bn in FDI in three years

ECONOMYNEXT – Sri Lanka is expecting to boost foreign direct investment to 5.0 billion US dollars in the next three years, International Trade and Development Minister Malik Samarawickrama said.

In 2015 foreign direct investments were estimated to be less than a billion US dollars, he told reporters in Colombo.

In 2015 Sri Lanka and presidential and general election that saw a new administration coming to power.

Samarawickreme was appointed following elections in August.

He said there was political uncertainty last year and investors were looking for stability rather than simply tax incentives and he expected investments to pick up in the next future.

Several investment conferences in key capitals were planned.

Investment approvals also would be made faster with a ‘one stop shop’ being opened with key officials of relevant government departments being housed within the Board of Investment of Sri Lanka.

Other officials will also be available on a visiting basis. The facility is expected to be operational by the end of this week, Deputy Minister Sujeewa Senasinghe said.
(Colombo/January 18, 2016)

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