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Sri Lanka’s FDI surprise

Foreign direct investment in Sri Lanka dropped in 2010, despite the end of the war in May 2009, Reuters reported last month.

Highlights:

Despite approval of 268 projects worth $2.5 billion, only about a third were started, the Board of Investment's (BOI) said.

FDI to September was $310m, compared to $350m in the same period in 2009.

Despite severe fighting, 2008 was a record year with $889m. 2009’s total was $602m.

The top five investing countries in 2010 were India, Malaysia, Britain, China and Mauritius.

Sri Lanka is seeking $1bn FDI in 2011, $1.5bn in 2012 and $2bn in 2013.