When attaining independence (in 1948) Ceylon was a pure agrarian country. Since 1977 the Sri Lankan government has been implementing privatization and an open economy for global competition thereby encouraging foreign investments. Increased direct foreign investment (FDI), lower interest rates, revival of the stock exchange and increased tourist arrivals have benefited the economy immensely. The majority of foreign exchange income results from textile exports of agricultural products (tea, copra, and rubber) the revenue from tourism and the exports of jewelers and gems.
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