Foreign
Direct Investment (FDI) amounting to US$ 2 billion is expected by the end of
the year. Minister of Investment Promotion Lakshman Yapa Abeywardena said that
already US$ 430 million worth of FDI had been received during the first six
months of this year and this amount excludes John Keells and Lake Leisure
investments.The Minister said that the anticipated inflow is a marked improvement from the US$ 1.2 billion FDI received last year. The private sector must work alongside the government to bring in the expected numbers and the country should reach the 8% growth mark soon, in order to compete alongside countries like Vietnam, China and Malaysia, added the minister. He emphasized that our FDI level should equal 35% of the country’s GDP and pointed out that of the needed 35%, the local investments could cover a maximum of only 8-9% and the rest had to come from foreign countries. The Minister emphasized that the amount of foreign investments should be 35% of the country's GDP and only 8-9% of this can come from the local investments. The rest has to come from foreign countries, he stressed.
Sri Lanka has 12 Industrial Zones and 8 Free Trade Zones in the country that are not being used to their full extent and the country is one of the ten economies in the world that are improving the most in the ease of doing business and the easiest among the South Asian countries. The Minister pointed out the need for the private sector to work cooperatively with the government to meet the expected target of investments this year.
