Sri Lanka has been a preferred investment destination for Italian businesses. For the period of 2005- 2017, a total over UDS 82 million Italian investment, in total of 18 projects included 14 exporters, have been attracted by Sri Lanka in to the main sectors of textile and apparel, footwear, jewellery, hotel and restaurants, wine bottling etc.
Italian investors are further encouraged to invest in the construction industry in Sri Lanka, in line with the projects of Megapolis and Western Province Development, construction of new harbours, logistic facilities and free-trade industrial zones, Colombo Port City projects and the proposed Financial Center,
schools and universities and highway and railway roads, value-added rubber sector including solid tyres and rubber gloves, mega-hotels, business hotels and BB hotels, iron and steel etc.
Recently launched National Export Strategy of Sri Lanka for the period of 2018-2022 ,has focused 06 key sectors with promoting industry base and inviting foreign investment collaborations. Boatbuilding industry, as a visionary sector, is among these 06 sectors and there are a lot of investment potentials for Italian boat builders and the investors either on direct investment basis or the joint venture basis. This industry also much viable in Sri Lanka hence it has the local raw materials supply like fibreglass, natural rubber etc, and the required high skilled labour etc from Sri Lanka.
The Board of Investment of Sri Lanka (BOI) along with its most attractive investment incentives in the South Asia region regularly publishes project proposals that are available for such investment opportunities. Not only the investments in FDI, but Italian investors are also informed to invest in high yield institutional investments in Sri Lanka such as purchases of stocks, investing in debentures, treasury bills and bonds etc.
With regard to investment, it is also important to mention that Sri Lanka has entered into bilateral Investment Promotion & Protection Agreement and the Avoidance of Double Taxation Agreement signed with Italy in 1987 and 1984, respectively