FDI reaches $ 783 m YTD says BOI

Tuesday, 23 September 2025 01:56 - - {{hitsCtrl.values.hits}}

BOI Chairman Arjuna Herath

Foreign direct investment (FDI) inflows to Sri Lanka reached $ 783 million as of 15 September, according to Board of Investment (BOI) Chairman Arjuna Herath.

“We are on track to cross the $ 1 billion FDI mark for 2025. The last time Sri Lanka achieved a billion dollars in FDI was in 2022,” Herath said.

While construction and telecom projects dominated in 2022, this year’s inflows have been more diversified. “We have a good mix with investments in ports, solid tyre manufacturing and the hospitality sector,” he noted.

Some of the inflows in 2022 were from projects that had Strategic Development Project Act concessions, which are no longer available.

In the twelve months to mid-September, the BOI approved 134 projects with a combined value of $ 1.3 billion.

“Investor appetite is improving because they see Sri Lanka has come a long way since the 2022 economic crisis,” Herath said.

Commenting on Sinopec’s proposal to develop a $ 3.5 billion refinery in Sri Lanka, Herath said the project had stalled over the issue of granting the company greater market access. Negotiations are still underway.

“Both sides are committed to reaching an agreement, and we believe a decision will be reached shortly,” he said, while declining to speculate on whether consensus could be achieved.