Sri Lanka's Board of Investment (BoI) said it will sign agreements with four foreign investors in deals worth nearly $4bn.
BoI Chairman Upul Jayasuriya said the major deals, worth nearly double of last year's FDI of $1.6bn, will include a $30mn investment from German car giants Volkswagen, a ship breaking facility at Hambantota, a monorail project and a crane factory at Colombo Port.
Speaking on the Volkswagen deal to be signed, Mr Jayasuriya said,
“It’s not huge but it’s just the footprint. We have asked them to set it up and given a time period for them to export,”
“Idea is that now we have a huge brand like Volkswagen and other large companies like Toyota and Nissan can follow this.”
Bribes deterred German investors from Sri Lanka claims minister (14 July 2015)
Sri Lanka to get Volkswagen plant - Ranil (13 Jul 2015)
Sri Lanka misses fiscal deficit target in 2014 (03 May 2015)
Sri Lanka to streamline processes to lure more African and Asian FDI (21 April 2015)
Sri Lanka’s economic growth to decline, more FDI required – World Bank (16 April 2015)
Sri Lanka to reduce FDI barriers (29 March 2015)
We need your support
Sri Lanka is one of the most dangerous places in the world to be a journalist. Tamil journalists are particularly at threat, with at least 41 media workers known to have been killed by the Sri Lankan state or its paramilitaries during and after the armed conflict.
Despite the risks, our team on the ground remain committed to providing detailed and accurate reporting of developments in the Tamil homeland, across the island and around the world, as well as providing expert analysis and insight from the Tamil point of view
We need your support in keeping our journalism going. Support our work today.
For more ways to donate visit https://donate.tamilguardian.com.
