BOI targets US$ 1.5 Billion FDI for 2023 – State Minister

The target set by the Board of Investment (BOI) for Foreign Direct Investments (FDI) for 2023 is US$ 1.5 billion and BOI FDI realized US$ 211 million in the first quarter of 2023,

Investment Promotion State Minister Dilum Amunugama stated. The BOI has approved investments of US dollars 682 million from January to July, he added. Despite the ongoing economic crisis, the BOI has been able to attract Foreign Direct Investments of US dollars 1.75 billion exceeding the targeted amount of US dollars 1 billion for 2022, State Minister Dilum Amunugama mentioned. He expressed these views yesterday (20) during a press conference themed ‘Collective Path to a Stable Country’ held at the Presidential Media Centre (PMC).

State Minister Dilum Amunugama further commented;It is necessary to update and modify Sri Lanka’s existing legislative framework in order to make the country an investment-friendly destination. It is expected to introduce new investment laws by the end of 2023, without affecting other government entities; current legal frameworks. Additionally, foreign investors do not receive their investment rights when they enter this country. As a solution, we must update our legislative framework to ensure that their investment rights are protected.