China became largest foreign investor in Sri Lanka in 2017

Beijing. February 1. Silkroadnews - China became the largest foreign investor in Sri Lanka in 2017, the newspaper “People’s Daily” reports.
“Sri Lanka attracted $1.63 billion in foreign direct investments (FDI) in 2017, a record high, according to data released by Sri Lanka’s Board of Investment on Monday, with about 35% of it coming from China, making China the country’s largest source of FDI,” the report said.
Malik Samarawickrama, Minister of Development Strategies and International Trade, said that in the future the government will speed up the reforms and adopt a new tax bill to provide a more favorable environment for foreign investment.
The minister added, this year the government of Sri Lanka plans to attract direct foreign investments worth $2.5 billion and expects another $5 billion by 2020.