Sri Lanka aims for $2.5bn in FDI in 2018

Sri Lanka is aiming to attract $2.5 billion in Foreign Direct Investments (FDIs) in 2018 after reaching $1.9 billion in 2017, the Finance Ministry said on Tuesday.

According to the Ministry, last year's record of $1.9 billion in Foreign Direct Investments was four times what was achieved in 2016 and toped the previous biggest high of $1.7 billion in 2014.

The $1.9 billion for 2017 included the $300 million that came as part of the payment over the Hambantota harbour deal signed between the Sri Lankan government and China Merchants Port Holdings, Xinhua news agency reported.

The Finance Ministry added that the highest Foreign Direct Investment inflows in 2017 came from China.

The Ministry praised efforts by the government to improve the environment for doing business, reduce red tape and introduce progressive legislation as the reasons for the rise in FDIs.

It further said the target for 2018 had been set at an ambitious $2.5 billion and the goal was to double Foreign Direct Investments to $5 billion by 2020.

--IANS

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