Sri Lanka sees a 90% rise in foreign direct investment in Q1 2025. President Anura Kumara Dissanayake urges BOI to explore new sectors to boost the economy.
Sri Lanka recorded a remarkable 90% surge in Foreign Direct Investment (FDI) during the first quarter of 2025 compared to the same period last year. The Board of Investment (BOI) disclosed the figures during a progress review meeting chaired by President Anura Kumara Dissanayake at the Presidential Secretariat.
Alongside the FDI rise, the country also saw an increase in domestic investment by US$21 million and a US$176 million boost in export income. So far this year, Sri Lanka has attracted US$4.669 billion in investment proposals, signaling renewed investor confidence.
Addressing BOI officials, President Dissanayake emphasized the need to shift Sri Lanka’s economic focus away from over-reliance on traditional investment sectors. He called on the BOI to identify and prioritize new areas of opportunity, particularly within the services sector, to stimulate sustainable economic development and raise rural living standards.
The President also highlighted the country’s historical FDI performance, pointing out that Sri Lanka has only secured US$22 billion in foreign investment since 1978, whereas nations like Vietnam attracted US$23 billion in a single year (2022). This comparison, he said, should drive urgency in exploring untapped sectors and adopting a more proactive investment approach.
The meeting was attended by senior BOI officials, including Mr. Duminda Hulangamuwa (Senior Advisor to the President on Economic Affairs), Mr. Arjuna Herath (BOI Chairman), and Ms. Renuka Weerakone (Acting Director General). The discussions also covered current challenges in attracting investment and explored strategies to enhance the effectiveness of the BOI.
