A contraction in Foreign Direct Investment to BOI companies includes loans ranging all sectors has been recorded in 2020 showing a 42.2% decrease from $1.18 billion in 2019 to just $687 million in 2020 according to the latest information released by the Central Bank of Sri Lanka
The infrastructure sector showed a depreciation of FDI from $643.7 million in 2019 to $384.4 million in 2020. The manufacturing sector demonstrated a depreciation from $319.5 million in 2019 to $192 million in 2020. The Services sector also showed a significant depreciation from $224 million the previous year to simply $111 million in 2020.
The Board of Investments had approved 155 projects for the year 2020 while 160 projects were approved in the previous year through S.16 and S.17 of the Act. Despite the number of approved projects being relatively similar numbers the total value of investments was down by 91.4% in 2020 where the values dropped from LKR 4.7 billion to a mere LKR 406.3 million.
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