BOI achieves 70% FDI target

Despite challenging times, the Board of Investments (BOI) has achieved 70 % of its targeted FDIs for 2022 by the third quarter of this year.

Apart from that merchandise exports by BOI enterprises have increased by 1 2 % during the period from January to November this year compared to the corresponding period last year, Director General at BOI Renuka Weerakoon said.

In the current year, the BOI has processed 120 investment applications; under which 66 were related to new investments while balance was for new investments and project expansions.

“We are currently facing several economic volatilities, both short and long term, and the role played by capital investments is vital in supporting economic recovery and growth.”

“Therefore, we appreciate Nestlé Lanka’s efforts in strengthening its investments in Sri Lanka, as it echoes a positive message about the potential of the country, encouraging further investments,” Weerakoon added.