COLOMBO, Sept. 26 (Xinhua) -- Sri Lanka will re-contract 30 to 40 foreign direct investment (FDI) contracts that were suspended due to the economic crisis as foreign investors have expressed their willingness to do so, state media reported on Tuesday.
Investment Promotion State Minister Dilum Amunugama was quoted as saying that the government expects to attract about 2 billion U.S. dollars this year, which is higher than previous investment target.
The state minister said that foreign investors are attracted to Sri Lanka due to political stability and economic programs of the government.
Amunugama said former British Prime Minister David Cameron would hold a program to introduce Colombo Port City to investors in Abu Dhabi and Dubai on Tuesday, adding that the legal framework is in place for investors to start work in the port city.
Amunugama said earlier that the government would propose special tax breaks and concessions in the 2024 budget to attract large-scale foreign direct investors in information technology and vehicle assembly. ■