China now supplies the largest amount of foreign direct investment (FDI) in Sri Lanka, accounting for 24% of the total inflow of $1.2bn, reported Xinhua.
Hong Kong invested 12% and Singapore 10% of the total FDI, with the Netherlands and Malaysia making up the rest of the top 5.
"We are very satisfied with the FDI progress this year. Last year FDI was 1.2 billion US dollars. We have already matched this amount and are confident of exceeding it by December. This year FDI created 10,000 additional jobs in Sri Lanka," Investment Promotion Minister Lakshman Yapa Abeywardene told media in Colombo.
Sri Lanka’s target for FDI this year was $2bn, but according to the minister said several FDI projects remain to be implemented, pushing the total figure for this year to $1.9bn.
"In 2013 the state-run Board of Investment approved 118 FDI projects with a combined value of 1.9 billion US dollars. Of these 105 projects have had their agreements signed while 55 have begun implementation," he said.
31% of the total FDI was for manufacturing, 19% for port terminals and 17% for telecommunications. Property development received 13% of the investment while hotels and restaurants received 6%.
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