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BOI signs 46 investment agreements worth a record US$ 982m
View(s):The Board of Investment (BOI) last month signed 46 new investment agreements totalling a record US$ 982 million in investments.
The projects cover a wide range of sectors such as manufacturing, construction, mixed development, hotel, mini hydropower, trading house, solar power, apparel, research and development and education. In addition, once in operation, these projects will generate an estimated 8,000 new direct employment opportunities, a BOI spokesman stated. The agreements were signed by BOI Chairman Upul Jayasuriya on behalf of the Government.
Among the agreements signed are 11 for new apartment complexes worth US$ 259 million in investments, while 10 agreements are for manufacturing projects worth US$ 296 million in investments. Others are 7 hotel projects, 6 related to mixed development projects in the Colombo area, 4 for setting up trading houses and agreements to develop several mini hydropower projects were other agreements reached.
The spokesman said the BOI this year laid the foundation for a higher quantum of Foreign Direct Investment (FDI) in the years to come.