The Foreign Direct Investment (FDI) into Sri Lanka has grown to over USD 1.63 billion in 2017, doubling the USD 802 million achieved in the previous year.
According to the Board of Investment (BOI) this is the highest ever FDI surpassing the USD 1.61 billion in 2014, with solid growth across key sectors, Government Information Department reported.
The strong growth is a direct consequence of the Government’s reorientation of economic policy towards investment and export driven growth, rather than debt-funded public infrastructure spending. Among the highest growth sectors were export-oriented Manufacturing (+27%) and Services which includes Tourism and IT (+50%) and Infrastructure (+190%). The highest FDI came from China, followed by Hong Kong, India and Singapore.
The BOI, under the Ministry of Development Strategies and International Trade, is the first point of contact for foreign investors into the country.
“The outstanding FDI results have been achieved due to the hard work, talent and dedication of our investment promotion and facilitation teams as well as the pro-investor policy framework of the government to support both local and foreign investors,” BOI Director General Duminda Ariyasinghe said.