About 40 FDI contracts suspended due to economic crisis to be revived

About 40 Foreign Direct Investment (FDI) contracts suspended due to the economic crisis would be re-contracted as foreign investors had expressed their willingness to do so, Investment Promotion State Minister Dilum Amunugama said on Monday (25) in Kandy.

Amunugama said the government expected to attract about 2 billion US dollars this year as FDIs.

The State Minister said that foreign investors were attracted to Sri Lanka due to political stability and the economic programmes of the government.

Amunugama said former British Prime Minister David Cameron was holding a programme to promote Colombo Port City to investors in Abu Dhabi and Dubai on 26 September.

On Monday, state media reported that the government will propose special tax breaks and concessions in the 2024 budget to attract large-scale foreign direct investors in information technology and vehicle assembly.