Press briefing of Cabinet Decision taken on 2021-03-23

International Promotion Campagin to attract Foreign Direct Investment to Sri Lanka

- Although foreign direct investments are crucial driving forces of the economic development, the process of attracting foreign direct investments have become weaken with the absence of a focused strategy that could target direct potential investors during the last few years. Although Sri Lanka and other several competitive countries have taken measures to attract foreign direct investments, Sri Lanka could gain only US $ 1.5 billion of foreign direct investment during the year 2019. Therefore, it has been found the necessity to implement a well-orchestrated, coherent and focused marketing and coordination strategy in order to showcase the attractiveness of Sri Lanka as the most suitable investment destination. Therefore, the proposal made by the Hon. Prime Minister in his capacity as the Minister of Finance to take necessary action to obtain the service of a high level global consultancy firm which contributes for foreign direct investment for the purpose, was approved by the Cabinet.