Colombo, Dec 21 (NIA) – Sri Lanka’s currency will strengthen in value next year as large amounts of foreign investments are expected into the island nation, Finance Minister, Ravi Karunanayake said in a statement here on Wednesday.
Karunanayake said that 1 billion dollars was expected to come into the country from a joint venture with a Chinese investor who will be taking over 80 percent of the Hambantota Port, in the south on a 99 year Hong Kong style lease agreement and more funds were expected from other foreign investments projects.
He said some of the areas in which foreign direct investments were expected were in Oil refinery, power generation process, the livestock industry and fisheries sectors.
He said the foreign investments would also create thousands of job opportunities for the local people.
Presently, 1 US dollar is valued at Rs. 151 (selling) against the Sri Lankan rupee.
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