The Report: Sri Lanka 2019

Sri Lanka’s progress with free trade agreements, finance reforms, and growth strategies for manufacturing and ICT should encourage increased foreign direct investment. Sri Lanka was named the top travel destination for 2019, and the government’s 2025 development strategy aims to increase public-private partnerships, nurture innovation and increase investment in special economic zones.

Sri Lanka’s promising progress with regard to free trade agreements, alongside finance reforms and ambitious growth strategies for manufacturing and ICT, look set to encourage increased foreign direct investment in 2019 – with 2018 having seen the highest levels on record. This should help offset the effects of political and economic volatility, as well at the increasing trade deficit that resulted from a number of import challenges including rising oil and gas prices. Moreover, Sri Lanka’s Vision 2025 development strategy aims to increase public-private partnerships, nurture innovation and increase investment in special economic zones to boost the country’s export capacity. Sri Lanka was named the top travel destination for 2019 and boasts great potential in key sectors, such as industry, energy and agriculture. While there will be challenges ahead, Sri Lanka is thus well on its way to achieving its development goals and, with the right level of investment and regulatory reform, reaching its potential as an Indian Ocean hub.

 

OBG & Sri Lanka