FDI down to $300 mln in 2016
View(s):Sri Lanka’s Foreign Direct Investment (FDI) has dropped 45.6 per cent to a very low level of slightly over US$300 million in 2016 from $658 million in 2015, official data showed.
The main reason for the drop in FDI last year was the policy inconsistency due to political changes in 2015, a senior government official said adding that despite the $5 billion target set by the government; there was no proper direction in the promotion of foreign investments.
The country has experienced a period of policy instability over the past 15 months with inconsistent taxation.