Sri Lanka aims to double FDI to $5 billion by 2020
FDI
Sri Lankan officials noted that the highest Foreign Direct Investment inflows in 2017 came from China
Sri Lanka's finance ministry aims to attract $2.5 billion as Foreign Direct Investments this year. The island nation achieved $1.9 billion as FDI in 2017.
Last year's record of $1.9 billion in Foreign Direct Investments was reportedly four times of what was achieved in 2016, the finance ministry noted. Sri Lanka's previous biggest leap in FDI was registered at $1.7 billion in the year 2014.
The Sri Lankan government signed a deal with China Merchants Port Holdings in 2017 bringing in $300 million to add to the total of $1.9 billion as FDI in 2017.
Sri Lankan officials also noted that the highest Foreign Direct Investment inflows in 2017 came from China.
The rise in FDI was attributed to an improved environment for business, reduced red tape and progressive legislation in the country.
Sri Lanka aims to double Foreign Direct Investments to $5 billion by 2020.
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