Sun, 22 May 2022 Today's Paper

BOI says US$ 1.5bn worth investment agreements signed in first 9 months

21 September 2020 10:05 am - 0     - {{hitsCtrl.values.hits}}

A A A

  • Expects the figure to reach US$ 2- 2.5bn by year end

Despite COVID-19 related disruptions, Sri Lanka’s apex investment promotion body, Board of Investment (BOI) said it has approved agreements worth US$ 1.5 billion in the first nine months of this year. 

Sanjaya Mohottala


This value includes new investments and expansions of ongoing projects. According to BOI Director General Sanjaya Mohottala, this number is expected to reach US$ 2-2.5 billion by the end of this year.


“As the unprecedented crisis triggered by the coronavirus severely dented the world economy, it’s impressive to see local investors expanding their ventures in Sri Lanka. While the advanced economies are shrinking their activities, local investors grabbed the opportunities arisen in the present world market. The confidence of existing investors in expanding their projects, strengthened the rupee value of the country,” Mohottala said.

According to him the foreign investments are expected to grow significantly within the next two years and the basic requirements are already being worked out. A formal mechanism is being set up to initiate new investments as well. Mohottala also said BOI has also been focusing on the Sri Lankan workforce and the areas that can be used to capitalise on it. 


“The Eravur fabric park is one of our significant initiatives, which will bring huge foreign exchange saving to the country. We also expect to establish a rubber-based manufacturing zone outside Colombo and Gampaha districts. Fisheries and aquatic resources projects are too within our concerns. The focus is to implement these projects in the North, East and Northwest coasts. 


“Furthermore, we intend to establish IT parks in Colombo, Gampaha, Kandy, Hambantota,Vavuniya and Jaffna districts within next 05 years’ time. Young professionals from these areas who are qualified in IT field will be privileged to work in these ventures,” he said.

 

 

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.

  Comments - 0

Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




Order Gifts to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Vegetables, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Continuing economic crisis in Sri Lanka and its far-reaching repercussions for women and girls

Soap, milk, and wheat are just a few of the necessities that are scarce in Sr

What’s next for the Sri Lankan Economy?

Monday’s briefing by Prime Minister Ranil Wickremesinghe was a rude awakeni

Who do we subsidize through fuel subsidies?

The economic crisis, the outcome of months of mismanagement by the Gotabaya R

“The interim government should operate for one year”- Champika Ranawaka

Samagi Jana Balawegaya (SJB) MP Patali Champika Ranawaka in an interview with