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| Sunday, 7 September 2003 |
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| News Business Features Editorial
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Long-term prospects good for Asia-Pacific by Pelham Juriansz Prospects for a rise in Foreign Direct Investment (FDI) inflows to Asia and the Pacific this year are slim, according to the World Investment Report 2003(1). The region will, however, continue to be the largest FDI recipient among developing regions in 2003, and its longer-term prospects remain good. FDI flows to Asia and the Pacific declined for the second consecutive year, from $ 107 billion in 2001 to $ 95 billion in 2002. Asia was the least affected and was one of the most rapidly liberalising regions. At a news conference held at Colombo's UN headquarters, Board of Investment Chairman, Arjunna Mahendran highlighted areas that have been identified for development in Sri Lanka - agriculture, Information Technology, textiles, chemicals and 'corporate location services'. "We do not want to just provide jobs for people, but make them entrepreneurs," he said. "We have a good market for cut flowers in Europe which should be pursued," continued Mahendran. |
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