Government remains hopeful to meet target as FDI drops

The government is continuing to hope to attract $2bn worth of Foreign Direct Investment in 2013, said Investment Promotion Minister Lakshman Yapa Abeywardene.

In the first six months of this year, Sri Lanka attracted $430m of investment mainly from China and India, a drop of 4.8% year on year.

“We are targeting a $2 billion foreign direct investment by end of this year,” Abeywardena said.

Abeywardena added that a large amount of the investment came from China and Hong Kong mainly for tourism, heavy industries, mix-developments and port related investments.

Hong Kong’s Shangri-La, China’s Colombo International Container Terminal, India’s ITC hotel, Krissh mixed development, were the major investors during the first half of 2013.

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