Sri Lanka sees $96 Million rise in foreign investment in early 2025

Sri Lanka’s Board of Investment (BOI) has recorded a significant increase in foreign direct investment (FDI) during the first quarter of 2025, with inflows rising by US$96 million compared to the same period in 2024.

This update came during a progress review meeting held today (June 20) at the Presidential Secretariat in Colombo, chaired by President Anura Kumara Dissanayake.

According to BOI officials, domestic investment also grew by US$21 million, while export income saw a notable increase of US$176 million in the first quarter.

So far in 2025, Sri Lanka has received investment proposals worth US$4.67 billion.

The meeting also addressed the challenges Sri Lanka faces in attracting investment and explored possible strategies to overcome them.

Speaking at the event, President Dissanayake highlighted the BOI’s critical role in driving economic growth and improving living standards, especially in rural areas. He emphasized the need for Sri Lanka to move beyond traditional investment sectors and explore new areas to stay competitive.

The President noted that since 1978, Sri Lanka has drawn only about US$22 billion in investments. In contrast, he pointed out that countries like Vietnam attracted US$23 billion in 2022 alone, underlining the need for Sri Lanka to catch up.

He urged the BOI to focus more on expanding investments in the services sector and to actively seek new opportunities, rather than trying to reclaim lost ones.

The meeting was attended by top BOI officials, including Duminda Hulangamuwa, Senior Advisor to the President on Economic Affairs; Arjuna Herath, BOI Chairman; and Renuka Weerakone, Acting Director General of the BOI.