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Friday, December 27, 2013 - 9.56 GMT

BOI relocates Investor Services Department
Sri Lanka to sign US $ 2 BN worth FDI deals


The Investor Services Department of the Board of Investment (BOI) has now been relocated at the 6th Floor of the World Trade Center , Colombo 1. Minister of Investment Promotion Lakshman Yapa Abeywardena formally opened the premises recently.

The Investor Services Department presently facilitates nearly 1000 BOI companies, by processing imports, exports documentation and verification of import and export cargo.

Speaking at the occasion Minister Abeywardena said that Sri Lanka will sign US $ 2 billion worth Foreign Direct Investment (FDI) deals, including the $ 1.3 billion Investment from China Communications Construction Co. Ltd. to build a port city.

According to the proposed deal, 108 hectares of land will be given to the Chinese firm after the port city development, while 63 hectares and 60 hectares of land will be given for public usage and the State-run Sri Lanka Ports Authority respectively.

The project scheduled to be completed in eight years has already created new land near the proposed port city as part of its expansion of the Colombo Port to double its capacity by 2015.

The realised FDI this year reached US $ 1 billion this year and with the start of some already-signed projects, Sri Lanka will be able to achieve its US $ 2 billion FDI target for this year, the Minister said.





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Last modified: December 27, 2013.

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