Sri Lanka falls short of FDI target by half
Afp, Colombo
Sri Lanka is set to miss its foreign investment target and attract only about half of its original estimate of a billion dollars, according to official figures. For the seven months to July, Sri Lanka received 257 million dollars in foreign investment, mainly in the areas of telecommunications, IT, clothing and construction of high rise condominiums. "Our FDI (foreign direct investment) figures have averaged 250 million dollars but have now gone up to 257 million dollars from January to July," Sri Lankan treasury secretary P. B. Jayasundara told businessmen here late Monday. "We should end the year at 500 million dollars or slightly more," he said, without saying why the country was missing an original forecast by half.
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