Foreign investment data published should provide priority information

Wednesday, 18 June 2025 00:00 - - {{hitsCtrl.values.hits}}

BOI Chairman Arjuna Herath

Following is a letter to BOI Chairman Arjuna Herath urging the Board of Investments to publish foreign investment data, quarterly, based on actual inflows received/actual capital invested, along with a breakdown of such investments

Dear Sir,

Foreign investments data published should provide priority information in current context

The President, the Government and the Board of Investments should be commended for their committed strategic leadership actions in securing significant Foreign Direct Investments, despite many challenges as a nation coming out of an external debt crisis. The following published media quote of FDI receipts positively signals the outcomes of such initiatives.

“Sri Lanka received USD 650 million in Foreign Direct Investment (FDI) during the first quarter of this year, Minister of Industry and Entrepreneurship Development Sunil Handunneththi told Parliament – adaderana.lk”.

In the current contexts of the key challenges of the country with the impending need to achieve in the medium term, high sustainable annual growth rates, generate trade surpluses and build significant external reserves by end 2027 to meet external debt obligations commencing from 2028, high levels of foreign direct investments generating significant tradable goods and services revenue are seen as an essential challenge.

You are well aware that, local and foreign investors, business leaders, chambers of commerce, economic researchers and analysts, closely focus on the quality of the investments and the expected medium-term outcomes of such investments. This community desires a much wider set of data, such as key information of value connected with Foreign Direct Investments as well as local investments; and include information on sectoral analysis, growth potential, level of local value addition, new job creation and the potential future value in generating much needed tradable goods and services revenue.

It is therefore recommended that the Board of Investments quarterly publish foreign investments data as well as other local investments approved by it, based on actual inflows received/actual capital invested, along with a breakdown of such investments primarily classified as falling within the tradable goods and services sector and others.

In addition, a summary of sectoral analysis, classifying those investments in key sectors, tourism/leisure, industrial/processing, agricultural/plantations, apparel, construction, power/energy, information technology, logistics, etc. will be most useful. The potential new employment anticipated and the average period for commercial operations will also be valuable additional data.

It is an expectation that the Board of Investments have in place strict validation processes in approving projects to ensure that all foreign investment projects meet ‘know your customer’ and ‘source of funding’ prior legitimisation.

Looking forward to the investments data releases being made more useful and in line with public expectations, under a new regime in governance committed to transparency.

Yours Sincerely,

Chandra Jayaratne

cc. President of Sri Lanka

Minister of Industry and Entrepreneurship Development

Director General, Board of Investments

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