Workers’ remittance is one of the main sources of foreign revenues for Sri Lanka….reports Asian Lite News
Sri Lankan Minister of Labour and Foreign Employment Manusha Nanayakkara on Tuesday said Saudi Arabia is willing to take up to 200,000 Sri Lankan workers in 2023.
The minister told the media that Saudi Arabia offered 54,000 jobs for Sri Lanka in 2022, adding that over 300,000 Sri Lankans went for foreign jobs in 2022 and most went to the Middle East.
Workers’ remittance is one of the main sources of foreign revenues for Sri Lanka.
Sri Lankan migrant workers remitted around 3.8 billion U.S. dollars in 2022, the country’s central bank data showed.
Last week, Saudi Arabia announced the launch of an investment fund to boost culture, tourism, entertainment and sports sectors in the kingdom, the Saudi Press Agency reported.
The Events Investment Fund (EIF) focuses on increasing direct foreign investment to contribute 28 billion Saudi riyals (7.46 billion U.S. dollars) to the gross domestic product by 2045.
The EIF seeks to develop infrastructures including indoor arenas, art galleries, theaters and conference centers, horse-racing and auto-racing tracks and other facilities, aiming to position Saudi Arabia as the global hub in the culture, tourism, entertainment and sports sectors.
The fund will conceptualize, finance and oversee the development of more than 35 venues by 2030.