Government aiming to attract 40 per cent FDIs from India

Intended total investment USD1000 million:

Anjana SAMARASINGHE

INVESTMENTS: Ministry of Investment Promotion and Enterprise Development expects to attract 40 percent of Foreign Direct Investments (FDI) from India this year.

Minister of Investment Promotion and Enterprise Development Rohitha Bogollagama said that last year Sri Lanka was able to attract USD 600 million worth FDIs.

This year Ministry is targeting investments to a tune of USD1000 million and expects to attract 40 percent of the total investments through India.

As an initial step the Ministry expects to promote Sri Lanka as the investment destination for Indian investors by participating at the Partnarship Summit 2007 which will be held on January 17 to January 19 in Bangalore, India.

A business delegation headed by the Minister of Investment Promotion and Enterprise Development Rohitha Bogollagama is expected to participate in the summit.

At the summit Sri Lankan delegation will meet 225 Indian investors and will hold one to one business meetings with them.

Ministry expects to attract Indian investors primarily in agricultural sector and in chemical manufacturing. We expect to promote infrastructure development and economic zones in the country at the 'summit' Minister said.

The Summit will be attended by CEOs, Managing Directors and other senior personnel from large industry houses, government officials, international delegates etc.

The Partnership Summit, now in its 13th year will return to Bangalore after 4 years under the flagship of Confederation of Indian Industry CII .

Over the years the Summit has emerged as a platform that seeks to brainstorm contemporary social, economic & political issues to facilitate decision-making and enhance networking.