FDI investments doubled last year

Foreign Direct Investments received by the country doubled to 2 Billion U.S.Dollars last year compared to One Billion U.S.Dollars received in the year 2011.

Joint efforts made by the Ministry of Economic Development and the Board of Investment have contributed to this increase.  BOI sources said that under these circumstances the prospects for 2013 is very bright.

The Board of Investment said that 45% of the FDI contribution was for infrastructure development, 28% was for production sector and 19% was for hotels and restaurants. It said that 24% of the FDI was from Hong Kong followed by India with a contribution of 22 % and 9% from Mauritius. The BOI approval for tourism projects with FDI last year amounted to 1,039 million U.S.Dollars during the first nine months of 2012.

The BOI has signed agreements with 112 entrepreneurs from January to September last year and these projects will generate 27,490 job opportunities in addition to the anticipated investment of Rs. 331,629 million. It said that the anticipated amount of investment for the 160 projects approved from January to September last year is Rs. 600.64 billion. The BOI has also entered into agreements in respect of 21 enterprises with an estimated investment of 384 million U.S.Dollars. (niz)

Details Created on Friday, 04 January 2013 10:58


Page 5 of 5