Sri Lanka foresees $3bn investment influx this year

Speaking at a press conference recently, Amunugama highlighted the successful implementation of initiatives outlined by the Finance Ministry in the first quarter of 2024.

Emphasising that investments signed in 2023 would contribute to this year’s figures, the minister underscored the significant strides made in improving Sri Lanka’s investment landscape, boasting a remarkable 200 per cent progress compared to two years prior.

He assured that the country now offers a more favourable environment for potential investors.

One key strategy involved the deployment of representatives to promote investment opportunities abroad, yielding positive outcomes in countries such as Britain, Canada, France, Italy, and Germany even as these efforts facilitated fruitful engagements with Sri Lankan expatriate businessmen and global forums, enhancing Sri Lanka’s visibility and attractiveness to the investors.

Additionally, Sri Lanka unveiled plans for private industrial zones near Trincomalee, Mankulam, Paranthan, and Kankesanthurai, with the Kankesanthurai Private Industrial Zone set to commence operations.

A Canada-based Sri Lankan business group is spearheading this initiative with a $500 million investment, which is tasked with attracting projects to the zone.

Amunugama also stressed the collaboration with India to expedite development projects post-debt restructuring.

Fibre2Fashion News Desk (DR)