BOI’s foreign direct investment inflows jump to USD 1.5bn in 2023

The Board of Investment of Sri Lanka (BOI) has earned USD 1.8 billion in total investments as at 23 November, State Minister of Investment Promotion Dilum Amunugama revealed.

Accordingly, the BOI noted that Foreign Direct Investment (FDI) projects worth USD 1.5 billion and USD 258 million worth of local investments have been signed and approved as at the aforementioned date.
The BOI said its registered and approved FDI projects increased by 122% in 2023 (from USD 695 million to USD 1.547 billion) and attributed this significant increase to the high value of investment in the energy sector.

“Investments such as Adani Corporation, Sinopec, RM Parks with Shell, and further sectors such as ITC, BPO, Tourism, and Manufacturing are the sectors getting more investments”, a release issued by the BOI read, adding that “Countries such as China, India, the US, HK, UAE, France, Korea, Germany, and Singapore are the destinations invested during 2023”.