Capital formation from investments last year stood at USD 1.4 billion of which USD 700 million was from FDIs while the rest was from local investments by BOI companies. “Notching nearly USD 1.5 billion in capital formation last year despite the many hurdles and the country being under lockdown was a commendable achievement,” the BOI chief said. The apex body for investments approved projects to the value of USD 2.3 billion last year. He said all attention is now drawn on the Budget which will provide direction for next year. Mohottala said more investments would flow into the country following the operation of the Eravur Fabric park and the pharmaceutical manufacturing zone in the South.

Source: Sunday Observer September 25, 2021 19:40 UTC