Business

BOI anticipates projects worth $ 2 b this year 

Sanjaya Mohottala

The Board of Investment (BOI) is expecting $ 2 billion worth of projects to come into the country this year. 

Speaking to The Morning Business, Board of Investment Chairman, Sanjaya Mohottala said that the anticipated projects are under the progress of getting signed. It was also said that the projects include real estate, further development of the port city and other projects that will influence a boost in the growth of the economy. 

“Regarding the new projects that are starting this year in terms of real estate, in terms of the port city and all that; we should have a pipeline of about give or take, $ 2 billion,” stated Mohottala. 

Furthermore, the BOI informed that there are many international investors keen to invest in Sri Lankan businesses and projects. In addition to this, it was also said that the investors are utilising the investor bubble scheme and are interested to visit the country to continue their business affairs in relation to the country. 

“There are high profile investors from Europe, the United States, and India but beyond that, there are always investors to come in, and there’s multiple dialogues going on. The investors are taking advantage of the opportunities of the investor bubble; many have put forward the interest to travel to Sri Lanka in the coming week,” added Mohottala. 

Moreover, the BOI Chairman also expressed views about the country and the investments to projects further in the present year. 

“If you look at the Sri Lankan point of view, there are a lot of opportunities for industries to expand. It all depends on how Sri Lanka will come out of the pandemic and after the vaccinations take effect where it is safer, and once we get the production stability, more investments would be coming in,” he further commented.