Sri Lanka plans to attract over 4 billion U.S. dollars in foreign investments in 2024

COLOMBO, April 17 (Xinhua) -- The Sri Lankan government expects to attract 4 billion to 4.5 billion U.S. dollars in foreign investments in 2024, State Minister of Investment Promotion Dilum Amunugama has said.

The state minister said in 2023 Sri Lanka attracted 1.8 billion dollars worth of foreign investments, although the target was only 1.5 billion dollars.

He said that the government has set an investment target of 4.5 billion dollars in 2024.

Amunugama said foreign investments have increased significantly after the country entered into an agreement with the International Monetary Fund (IMF).

He said that due to the political and economic instability in Sri Lanka, foreign investment declined in 2022 and the first half of 2023.