Sri Lanka’s Board of Investments (BOI) is confident about surpassing the $1 billion Foreign Direct Investment (FDI) mark comfortably in 2022. The BOI states that Sri Lanka will recover around $900 million this year from a 10-year low of $670 million last year resulting from the Co-vid 19 pandemic.
Chairman of the BOI, Sanjay Mohottala, stated that several projects are in the pipeworks, allowing them to exceed $1 billion FDI without the Port City investment. The government hopes to secure $1 billion from Port City while securing $1.5 billion from other FDI, bringing the total to $2.5 billion. Some of the other significant projects include the West Container Terminal Project and the Eravur Fabric Zone.
The chairman also stated that policy consistency remains crucial in both the macro and micro-economic fronts and that policy changes may reduce FDI.
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