# Sri Lanka economic and investment development > Live situation record from CLSTR: https://clstr.news/situations/sri-lanka-economic-and-investment-development > Updated: 2026-09-06T06:00:24.000Z. Sources: 5. Developments: 2. Sri Lanka is pursuing various economic development initiatives focused on investment and industrial growth. In late August 2026, the Board of Investment of Sri Lanka (BOI) collaborated with the Australian Trade and Investment Commission (Austrade) through a specialized workshop. This partnership, part of the Trade and Investment Facilitation Agreement (TIFA), aimed to enhance expertise in attracting Foreign Direct Investment (FDI) by sharing best practices in sectoral targeting and investor management, specifically for the education and mineral sectors. Following this, the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) and the Ministry of Industry and Entrepreneurship Development established a bilateral policy dialogue. This initiative targets a 25 percent export growth for small and medium enterprises (SMEs) by integrating the private sector with the National SME Strategy Framework. The program intends to develop up to 5,000 scalable SMEs, focusing on sectors such as ICT, agriculture, and logistics. ## Timeline ### 2026-09-06: Sri Lanka SME sector targets 25% export growth through new government-industry partnership The FCCISL and Sri Lanka’s Ministry of Industry have launched a partnership to achieve a 25% export growth target for SMEs through nationwide incubation and strategic policy alignment. 3 sources. https://clstr.news/cluster/sri-lanka-sme-sector-targets-25-export-growth-through-new-government-industry-partnership ### 2026-08-31: Sri Lanka's BOI and Austrade partner to enhance FDI promotion The Board of Investment of Sri Lanka and Austrade held a workshop to share strategies for attracting Foreign Direct Investment, following the bilateral Trade and Investment Facilitation Agreement. 2 sources. https://clstr.news/cluster/sri-lankas-boi-and-austrade-partner-to-enhance-fdi-promotion --- Cite as: Sri Lanka economic and investment development. CLSTR, https://clstr.news/situations/sri-lanka-economic-and-investment-development