Sri Lanka targets US $ 2b in FDI
Sri Lanka is targeting US$ 2 billion in Foreign
Direct Investment (FDI) this year. Last year the country received
FDI of US$ 1.3 billion, Investment Promotion Minister Lakshman Yapa
Abeywardena said last week. He said FDI to the country doubled from
a year earlier to US$ 442 million during the first quarter of this
year.
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IT-BPM industry aims at US$ 5b revenue by 2022
Sri Lanka's IT-BPM (Business Process Management)
industry should be a vibrant brand to attract outsourcing business
and be a one billion dollar industry, said IFS Sri Lanka President
and CEO Jayantha de Silva.
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SL in transition to upper middle income economy
The Sri Lankan economy made further
consolidation towards strong growth in 2013 by achieving a 7.3
percent growth rate and achieving 7 percent annual average growth
rate over the past ten years, according to the annual report 2013 of
the Ministry of Finance and Planning which was released last week.
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US economy contracts in Q1
The US economy shifted into reverse in the first
three months of 2014 shrinking by an annualised rate of 1%, official
estimates have shown. It is the worst economic performance since the
first quarter of 2011. It is also a big fall on the 2.6% rise in
economic output in the final quarter of last year.
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The Indian lesson:
Reforms essential for economic growth
In 2004, the United People?s Freedom Alliance (UPFA)
in its policy statement Rata Perata introduced policies opposite to
that of the ‘Regaining Sri Lanka’ policies of the then UNP
government. Regaining Sri Lanka policies were labelled as extreme
neo-liberal.
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January-April exports top US$ 3b
Despite the annual seasonal pull-back, Sri
Lanka's January-April exports have successfully sustained its 1Q
surge. “The usual April seasonal export slowdown did not affect our
exports. In fact, today we are seeing a rise of 15%,” said Industry
and Commerce Minister Rishad Bathiudeen last week.
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