Colombo, April 10 (newsin.asia): Sri Lanka is aiming to attract US 2.5 billion dollars in Foreign Direct Investments this year after reaching US 1.9 billion dollars in 2017, local media, quoting the Finance Ministry said here Tuesday.
According to the Ministry, last year’s record of US 1.9 billion dollars in Foreign Direct Investments is four times what was achieved in 2016, and tops the previous biggest high of US 1.7 billion dollars achieved in 2014.
The US 1.9 billion dollars for 2017 includes the US 300 million dollars that came as part of the payment over the Hambantota harbour deal signed between the Sri Lankan government and China Merchants Port Holdings .
The Finance Ministry said that the highest Foreign Direct Investment inflows in 2017 came from China, followed by Hong Kong, India and Singapore
The Finance Ministry praised efforts by the government to improve ease of doing business, reduce red tape and introduce progressive legislation as reasons for the rise in Foreign Direct Investments.
The Ministry further said the target for 2018 had been set at an ambitious US 2.5 billion dollars and the goal was to double Foreign Direct Investments to US 5 billion dollars by 2020.