Sri Lanka’s State Minister of Money, Capital Market and State Enterprise Reforms Ajith Nivard Cabraal has said that the Sri Lankan government hopes to attract over 2.5 billion U.S. dollars in foreign direct investment (FDI) this year.
Cabraal also told reporters that the Sri Lankan government has no plans to issue more International Sovereign Bonds and will instead focus on adjusting the ratio of foreign debt to local debt.
“We have empowered small and medium business owners through our efforts. Instead of sovereign bonds we will attract foreign currency through different means,” Cabraal was quoted as saying.
Cabraal said that currency swaps with India and China as well as an upcoming legal framework for Colombo Port City will help attract foreign investment, according to the media report.
Source: XINHUANET
