BOI reports significant growth in foreign and domestic investment as President urges strategic expansion into new sectors.
Sri Lanka has seen a remarkable 90% increase in Foreign Direct Investment (FDI) in the first quarter of 2025, according to the Board of Investment (BOI). The BOI reported an inflow of $96 million more than the same period in 2024, reflecting renewed investor confidence and an improved economic climate.
This development was revealed during a progress review meeting held on June 20 at the Presidential Secretariat, chaired by President Anura Kumara Dissanayake. The meeting also highlighted a $21 million rise in domestic investment and a notable $176 million boost in export income for the same quarter.
In total, Sri Lanka has attracted $4.669 billion in foreign investment so far in 2025, marking a significant step forward for the island nation’s economic recovery.
During the meeting, President Dissanayake emphasized the crucial role of the BOI in driving national development. “FDI is essential not only for economic growth but for uplifting rural livelihoods,” he said. He noted that investment opportunities in traditional sectors are drying up, urging the BOI to identify and promote emerging sectors instead.
President Dissanayake also offered a sobering comparison: while Sri Lanka has attracted only about $22 billion in foreign investment since 1978, Vietnam drew $23 billion in a single year in 2022. “We must move faster and think smarter,” he stated, calling for a shift in focus from recovering lost investment opportunities to aggressively targeting new ones, particularly in the services sector.
The review meeting was attended by key BOI leaders including Chairperson Arjuna Herath, Acting Director General Renuka Weerakone, and Presidential Economic Advisor Duminda Hulangamuwa, who discussed challenges and strategies for boosting FDI in the months ahead.
As global competition for investment intensifies, Sri Lanka’s latest FDI growth signals a promising trajectory — but also a call to innovate and diversify for long-term success.