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Wednesday, May 15, 2013 - 4.36 GMT
USD 218 m worth of FDIs in first quarter


Sri Lanka has received Foreign Direct Investments (FDIs) worth USD 218 million during the first quarter of this year, Investment Promotion Minister Lakshman Yapa Abeywardena said.

Addressing a press conference at the Information Department yesterday, the minister said 37 foreign investment projects each exceeding USD one million have been commenced in the country from January to March. He said another 144 foreign investment projects each valued at less than USD 1 million have commenced during the said period.

The minister said Taiwan, Canada, the Virgin Islands, Netherlands, Singapore, UK, Australia and India were among the countries which have invested in Sri Lanka during the first quarter of this year.

He observed the allegations by certain parties that only India and China are investing in our country are proving baseless from these statistics.

He said the BoI has been receiving a large number of investment applications and among them there are 30 applications for large scale investment projects each exceeding USD 300 million. The minister said the country will receive FDIs from these projects in about two-three years. Abeywardena said these investments will be proceeded with according to the regulations of the BoI.

The minister said the total value of these large scale investments alone amounts to USD five billion. Minister Abeywardena said the investors are given all facilities to commence their projects speedily and without hassle .






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Last modified: May 15, 2013.

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