COLOMBO: Foreign direct investment (FDI) inflows into Sri Lanka totaled $817 million in the first half of this year, 51 percent more than the inflow during the same period a year ago, a minister said on Tuesday
Sri Lanka has set a $2 billion FDI goal this year, though it failed to meet that target for two years in a row.
"We have recorded a 51 percent growth in foreign direct investment in the first six months to $817 million, compared to last year," Investment Promotion Minister Lakshman Yapa Abeywardena told reporters in Colombo.
The Indian Ocean island nation drew a record $1.42 billion in 2013, 6 percent more than the $1.34 billion attracted in 2012, central bank data showed.
Sri Lanka's ambitions for more FDI were hampered by inconsistent investment policies, investors' complaints of corruption and lack of good governance, as well as the government's failure to address human rights violations in line with UN resolutions.
Sri Lanka still attracted FDI, mainly to its tourism industry due to optimism following the end of a 26-year war in May 2009.
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