The Central Bank Annual Report 2006 (p. 39) states:
The inflow of foreign direct investment increased
substantially by 110.3 per cent to US dollars 604 million
in 2006 . . . . Of the total foreign direct investment in 2006,
more than 60 per cent was invested in telecommunication
sector, textiles, wearing apparel and leather industry. Under
Sections 17 and 16 of the BOI Act, 354 projects were
approved in 2006 with an investment commitment of
Rs.3,991.6 billion compared with 374 projects approved in
2005 with an investment commitment of Rs.79.5 billion.
There was also a local mega investment in the area of airline
services in 2006. The accumulated realised investments in
the BOI projects was Rs.468 billion and increased by 23.2
per cent in 2006 compared with Rs. 380 billion in 2005.
AFP reports, sourced to the Board of Investment, that Sri Lanka attracted USD 600 million in investment last year, of which USD 350 million was for the telecom industry. This clearly positions telecom as the largest in terms of foreign investment, but the quantum has to be calculated.
It will be helpful if readers from the Central Bank, BOI or elsewhere can shed more light on the actual figure. One expects this kind of fact to be easily accessible in the CBSL Annual Report or on the BOI website, but . . .. Anonymity is assured, but sources would be greatly appreciated.
If readers from other Asian countries wish to participate in discussions on investment in their own countries, we’d be happy to host separate threads on telecom investment by country. We have good data on India, Indonesia and Pakistan.
2 Comments
darshika
leather industry in sri lanka
samarajiva
Any evidence to support the claim it’s the leather industry?
Supreme Court recommends elimination of ‘public commotion’ clause in Telecom Bill, in line with LIRNEasia Chair’s recommendations
The Supreme Court of Sri Lanka recently ruled that several sections of the proposed Telecommunications Amendment Bill are inconsistent with the country’s Constitution. This decision comes after significant opposition and criticism from experts, including LIRNEasia Chair Prof.
LIRNEasia CEO Helani Galpaya speaks on disinformation and AI in the Global South at DW Global Media Forum
The implications of Artificial Intelligence (AI) extend beyond mere technological advancement. There is no doubt that while the Global North is gaining most of the benefits of AI, the Global South faces significant problems, such as biased language models.
Supreme Court cites LIRNEasia’s insights in Telecom Bill Determination
The Supreme Court last week determined that some sections of the Telecommunications Amendment Bill are inconsistent with the Constitution of Sri Lanka. The determination included a citation of the insights provided by LIRNEasia in a research article (2009) titled “Banded Forbearance: A New Approach to Price Regulation” compiled by LIRNEasia Chair Prof.
Links
User Login
Themes
Social
Twitter
Facebook
RSS Feed
Contact
12, Balcombe Place, Colombo 08
Sri Lanka
+94 (0)11 267 1160
+94 (0)11 267 5212
info [at] lirneasia [dot] net
Copyright © 2024 LIRNEasia
a regional ICT policy and regulation think tank active across the Asia Pacific