Sri Lanka attracts 52 foreign investors:
BOI to implement mega projects soon
Fifty-two foreign investors have been attracted to Sri Lanka with the
end of the war and the BOI is planning to implement a number of mega
projects in the near future, said Chairman BOI, Dhammika Perera.
He said that these investment inquiries were mainly for large-scale
agriculture, cultivation of fruits and vegetables, dairy farming,
fisheries, food processing, textile/yarn manufacturing, tourist hotels,
IT training and container services, warehousing and freight.
Sri Lanka attracted Rs. 17,640 million in foreign investments during
the first five months of 2009 and the employment generated through these
investments was 2,800.
Many foreign investors have shown an interest in sectors such as BIO
fertilizer, Electronic and Electric Goods, Deep Sea Fishing,
Marine/Fishing, PVC products, Rubber products, Textile and Yarn, Wearing
Apparel, Trading Houses and Hospitals, he said.
Ninety-eight projects had been approved between January and May 2009.
Fifty-two foreign investments were for services at an estimated
investment of Rs.28,533.90 million which will generate 3,415 employment
opportunities. A large number of foreign investments are for the Colombo
district while eight of the foreign investments are for the North-East
and Eastern Province, namely Trincomalee, Ampara and Batticaloa. It
would generate 615 employment opportunities in these districts.
Sixteen projects were approved for the Gampaha district generating
1,193 job opportunities with a foreign investment of Rs.26,728.43
million and a local investment of Rs.1,035.03 million. These investments
will generate 8,704 job opportunities. Fifteen projects were launched in
Sri Lanka and the BOI is targeting US $ one billion from direct foreign
investments this year,” he said.
The BOI will launch six promotion programs this year.
The programs will be held in India, USA, UK/Ireland, Middle East,
Malaysia and Thailand/ Singapore. The promotional program in India will
focus on IT, infrastructure and medium scale industries/educational and
vocational training in September. The promotional program in USA will
focus on IT, manufacture healthcare and export-oriented services in late
The UK/Ireland promotion will focus on IT/IT-enabled services and BPO.
The mission will be conducted this year jointly with SLASSCOM (local IT
companies). The Malaysian promotional program will focus on
infrastructure, IT and electronics, light engineering sector in October
2009 and the promotional program in Thailand/Singapore will focus on
real estate, healthcare, electronics, food processing, export-oriented
services and gem and jewellery which is already being implemented, said
Perera. He said that the BOI is targeting eight mega projects including
the setting up of Economic Zones in Trincomalee and Kilinochchi. In
addition the 488MW LNG Power Plant in Kerawalapitiya is another project
the BOI is targeting.
The other projects are the setting up of off-sight campuses of
foreign universities, an airport in the Hambantota district, and an oil
refinery plant. Setting up resort hotels in Kalpitiya, Pasikudah and
Nilaveli, a hospital in the North and sand mining are also among them.
The BOI is targeting the Colombo South Harbour Project with an
investment of US$ 450 million, Malabe IT Park with an investment of US$
80 million, SIP Water and Waste Water Facility with an investment of US$
7.5 million and Henegama Knowledge Centre with an investment of US$ 100
million as four public and private partnership projects to be
implemented in 2009.