Economy

Sri Lanka targets $ 879 m in local investments in 2025

Published

1 year ago

January 16, 2025

Sri Lanka expects about $ 879 million in investments from local investors in 2025 based on government incentives and an improved investment climate in the country, Economic Development Deputy Minister Prof. Anil Jayantha Fernando said.

Speaking in Parliament yesterday (7), he said that the government forecasts $ 879 million from local investors, an assumption based on the current situation and past trends.

He also added that the figure is forecasted based on the incentive packages that the government will provide, improvement in the investment climate and maintaining policy consistency.

Fernando said that the government will provide a conducive environment for local investors where they can have a level playing field with improved ease of doing business.

Moreover, he said that forecasts for foreign direct investments (FDIs) are also made based on the assumptions made for local investors.

However, Fernando said that the government is trying to move away from these assumptions as they have not been able to attract sufficient FDIs in the past based on these assumptions.

“We are trying our maximum to get at least $ 2 billion in FDIs annually, while priority will be given to investments to bring in new technology and capital requirements,” he added.

According to a response tabled at parliament by Finance and Planning Deputy Minister Harshana Suriyapperuma in December, the Board of Investment (BOI) has signed 74 projects in 2024, with an estimated investment of $ 608 million.

The statement said that the BOI signed 41 new projects and 33 project extensions between January and December 2024, the estimated total investment in the 74 projects is $ 608 million, which is only a mere $ 110 million growth in the second half of the year after recording $ 498 million investments in the first half.

Source – The Morning

Economy

Sri Lanka records US$ 751.1 million in workers remittances in January 2026

Published

1 week ago

February 9, 2026

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Foreign worker remittances to Sri Lanka reached US$ 751.1 million in January 2026, marking a 31.1% rise from US$ 573.0 million in January 2025, the Central Bank of Sri Lanka (CBSL) said.

The robust start to 2026 comes after a record US$ 8.076 billion in total remittance inflows for 2025.

Economy

Nuwara Eliya Ranks Second on Agoda’s List of Must-Visit Hill Stations in Asia

Published

1 week ago

February 7, 2026

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Sri Lanka’s popular hill resort town Nuwara Eliya has been ranked second among Asia’s must-visit hill stations by digital travel platform Agoda, further strengthening the country’s appeal as a scenic travel destination.

Sri Lanka travel guide

Agoda featured Nuwara Eliya in a new travel list promoting highland destinations across Asia that offer cooler climates, natural beauty and peaceful surroundings for travellers seeking a break from busy city life.

Known as “Little England,” Nuwara Eliya attracts both local and foreign visitors with its tea plantations, colonial-era architecture, cool weather and scenic landscapes. Tourists frequently visit the area for its lakes, misty hills and opportunities for relaxation as well as outdoor activities.

Economy

Galle ranks fifth among top 10 honeymoon destinations for 2026

Published

4 weeks ago

January 20, 2026

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Galle has been placed fifth among the world’s top 10 honeymoon destinations for 2026 in the latest rankings released by Tripadvisor.

The ranking forms part of Tripadvisor’s Travelers’ Choice Awards Best of the Best 2026 and is based solely on the volume and quality of traveller reviews submitted over a 12-month period.

Tripadvisor said the list reflects destinations that consistently received strong feedback from honeymoon travellers worldwide.

Beach and island destinations dominate the upper end of the 2026 rankings. Bali secured the top position, followed by Mauritius and the Maldives, with St. Lucia ranked fourth. Galle placed fifth, ahead of several established long-haul honeymoon favourites.

Tripadvisor noted that Galle’s appeal lies in its blend of heritage and coastal experiences. Founded by the Portuguese in the 16th century, Galle Fort remains a key attraction, with preserved ramparts, historic buildings, and walkable streets.