SINGAPORE’S DIRECT INVESTMENT IN SRI LANKA: PAST EXPERIENCE AND FUTURE PROSPECTS

Tilak Abeysinghe and Ananda Jayawickrama

Microeconomics Working Papers from East Asian Bureau of Economic Research

Abstract: Apart from aggregate accounting of Singapores investment abroad, case studies on the performance of these investments in individual countries hardly exist. This paper is an attempt to compile such a study by focusing on Singapores investment in Sri Lanka. Singapore is one of the largest foreign investors in Sri Lanka though Sri Lanka is a small recipient of Singapores total overseas investment. The bulk of Singapores investment in Sri Lanka has been in service industries. As usual these investments have created many employment opportunities. However, because of high import dependence the Singapore firms in Sri Lanka have begun to generate trade surpluses only recently. Revealed comparative advantage indices combined with attractive fiscal incentives and low-cost factors of production indicate that there are large investment opportunities in the manufacturing sector that remain to be exploited. The ongoing war obviously has deterred the expansion of Sri Lankas FDI base to its full extent.

Keywords: Economic and social indicators; foreign direct investment; Employment; Trade Balance; revealed comparative advantage; future investment opportunities (search for similar items in EconPapers)
JEL-codes: F14 F21 F23 (search for similar items in EconPapers)
Date: 2008-01
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