US $ 1,070 m exceeded:
Highest foreign investment towards development by Nov
Sri Lanka has received the highest quantum of foreign investment
amounting to over US $ 1,070 million by November this year towards
development projects, Economic Development Deputy Minister Lakshman Yapa
Speaking at the Government Information Department yesterday, he said
there is a misconception in the country that foreign investment coming
into the country has reduced but it is not so. In 2009 it was US $ 602
million and in 2010 it was US $ 516 million. He said 58 projects have
been implemented from these investments and another 131 projects have
been approved and 138 projects are awaiting approval.
He said all projects of over US $ 3 million are considered as foreign
The minister said although the Opposition accuses the government of
considering sale of land as an investment, the funds received from sale
of lands are also part of investment.
Referring to the progress of the tourism industry, he said in 2012,
the country will receive Rs one billion as investment for tourism.
During the last 11 months the increase in tourist arrivals stands at
The minister observed a significant change in the pattern of tourist
arrivals this year as a result of the contribution of other tourist
attraction areas, such as, the Dehiwala Zoo, Kandy. Dalada Maligawa,
Pinnawala Elephant orphanage and Wildlife sanctuaries. Earlier the focus
was more on the beaches.
‘The number of tourists to Dalada Maligawa has increased by 44
percent this year. With the number of tourist arrivals reaching 800,000
by the end of this year, there will be 12,000 new employment
opportunities, he said.
The government also has allocated Rs 40 million to strengthen
Provincial Councils to be able to promote and develop the tourism
industry in the provinces.
Among other development projects, the government has allocated Rs
3,000 million towards Samurdhi beneficiaries, apart from Rs 93 million
allocated for 2011.