Norwegian Government Pension Fund Global, has more than doubled its investment in Sri Lanka by end of 2016, the Norwegian Embassy in Colombo release said.
In 2015, the fund invested USD 31 million in Sri Lanka and they increased to USD 65 million by end of 2016.The biggest investments have been made in the industrial and financial services sectors with 63% of the total investment.
The Norwegian Government Pension Fund Global a sovereign wealth fund, with a mandate to safeguard and administer the Norwegian government’s revenue from the oil and gas sector has being investing in Sri Lanka in 2015.
Valued at USD 890 billion, the Fund is one of the largest sovereign wealth funds in the world, currently holding about 1.3 % of the world’s stocks. The fact thatNorwegian Central Bank through the Norges Bank Investment Management (NBIM) started to invest in Sri Lanka suggests that, the Sri Lankan investments opportunities and market standards have improved in the last years.
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