Govt. expects US$ 2.5 bn FDIs in 2021

By Sanath Nanayakkare

The government was confident that it could attract foreign direct investments (FDIs) worth US$ 2.5 billion next year, State Minister of Money and Capital Market and State Enterprise Reforms Ajith Nivard Cabraal said yesterday.

He said so while speaking at a virtual forum held to mark the 4th annual investment conference of Asia Securities.

“This is a reasonable and realistic FDI value Sri Lanka targets for next year having created the right investment environment. The Port City is set to bring in US$ 1 billion, the Hambantota Tyre facility US$ 300 million – 75% of it will come next year – the Pharmaceutical Zone will bring in US$ 200 million and some more investments will come into the education sector, among others.

“Well maintained favourable interest rates, stable exchange rate and a stream of investment projects in the pipeline are interconnected to enable growth. The investors will be excited to invest in Sri Lanka as they will feel much more comfortable when they see our stable, predictable set of macro conditions. The government’s prime objective is to help businesses create wealth and then through proper policies the government will ensure fair and equitable distribution of wealth to the people in all income brackets to create inclusive prosperity.”