ECONOMYNEXT – Sri Lanka’s record 1.9 billion US dollars in foreign direct investment were driven by China, Singapore, India and Hong Kong but there were also steep increases from many countries.
Chinese firms led by the CM Ports group has invested in Hambantota Port and also in a sea reclamation in Colombo.
Chinese investments were 407 million US dollars in 2017, followed by 241 million dollars from Singapore, 181 million dollars by India and 125 million dollars from Hong Kong, central bank data showed.
Investments from Japan rose to 51 million dollars from 26 million year earlier.
UK investments almost doubled to 76 million dollars from 39 million a year earlier.
US investments were 25 million dollars up from 10 million dollars a year earlier.
There were 39 million dollars from Australia (unchanged), 25million from Sweden, 20 million from Mauritius and 18 million dollars from British Virgin Islands.
Some Western firms also invest through financial centres like Singapore and Hong. (Colombo/Apr29/2018)