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Sri Lanka seeking $50 billion of foreign investment for development - PM

Reuters  |  COLOMBO 

COLOMBO (Reuters) - Sri Lanka will aim to attract $50 billion of mostly foreign investment in the next five to 10 years to help develop its infrastructure, Prime Minister Ranil Wickremesinghe said on Wednesday.He said that after completing an International Monetary Fund stabilisation programme last year, the government would focus on development, using the island's strategic location in the Indian Ocean and devices like new industrial zones to draw investment."The aim is to create a $4 billion new market for exports with (free) trade agreement from India, China, and Singapore. We are focusing ...

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First Published: Wed, January 04 2017. 21:46 IST