'One-stop-shop' to promote foreign investment

by Uditha Kumarasinghe

Investment Promotion Minister Lakshman Yapa Abeywardena said that the UPFA Government from 2006 up to third quarter of 2012 had brought in US$ 5026 million worth Foreign Direct Investment (FDI), the highest FDI inflow to the country since 1978.

All former Governments from 1978 to 1994 had brought in only US$ 1026 million worth FDI to the country. In addition, FDI from 1995 to 2005 amounted to US$ 1752 million, the Minister told the Sunday Observer yesterday. However, the UPFA Government under the leadership of President Mahinda Rajapaksa has brought the highest FDI inflow to the country from 2006 up to third quarter of 2012. This is a 64 percent increase when compared to the past FDI inflows, he said.

Irrespective of obstacles against the Government in the international fora, the UPFA Government has set a record by bringing in the highest FDI inflow to the country,the Minister said. Minister Abeywardena said that he is now in the process of formulating a comprehensive program in collaboration with his Advisory Committee to attract more investments to Sri Lanka.