China becomes biggest source of FDI in Sri Lanka in 2017

Li Wenxin, Hu Pingchao
0 Comment(s)Print E-mail Xinhua, 01 31, 2018
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BEIJING, Jan. 30 (Xinhua) -- China became the largest source of foreign direct investment (FDI) in Sri Lanka in 2017, according to Sri Lanka’s Board of Investment (BOI).

In 2017, Sri Lanka attracted 1.63 billion U.S. dollars of FDI, hitting a record high, of which about 35 percent came from China, making it the largest investor in Sri Lanka last year, said the BOI.

Sri Lanka attributes the significant growth in the FDI to its efforts of transforming its economy into the investment-oriented and export-oriented mode.

Sri Lanka saw its FDI in 2016 reach 802 million U.S. dollars.

Sri Lanka is expected to attract 2.5 billion U.S. dollars of FDI this year and bring the figure to more than 5 billion U.S. dollars in 2020, according to Malik Samarawickrama, Minister of Development Strategies and International Trade of Sri Lanka.

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