Sri Lanka woos more Malaysian investments

Sri Lanka has made a fresh bid to woo greater Malaysian investments especially in the economic infrastructure arena.

Malaysia, a prominent foreign investor in Sri Lanka, with a cumulative investment of about US $1.4 billion, is seen as the frontrunner to secure projects in the island state with a 20 million population.

Board of Investment Executive Director Duminda Ariyasinghe had told told Bernama that Sri Lanka expects to draw about RM 2 billion of foreign direct investments this year, with many infrastructure projects to be launched in the tourism sector and highway construction.

“Malaysia is currently doing very well in the Sri Lankan telecommunications sector while many companies have expressed interest in tourism, education, and manufacturing and information technology sectors. There are a lot more untapped potentials in Sri Lanka. We need more participation of Malaysian companies in new highway projects, road construction, power generation, airports and ports development,” Ariyasinghe said.