Lankapage Logo CP 22 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* BOI launches five-year ‘strategic’ plan to attract investment
Fri, Jun 3, 2022, 10:07 am SL Time, ColomboPage News Desk, Sri Lanka.

June 03, Colombo: The Board of Investment of Sri Lanka (BOI) presented a five-year strategic plan with the expectation of attracting sustainable foreign direct investment (FDI) to Sri Lanka.

A virtual round table titled “Investment Facilitation for Development: How Asian and Pacific Economies will Benefit” was held on 19 May in Bangkok, Thailand, jointly implemented by the International Trade Centre (ITC) and the German Development Institute/Deutsches Institut für Entwicklungspolitik (DIE), during which the framework of the Investment Facilitation for Development project, the strategic plan for FDIs, was presented.

Speaking on the theme of “Which investment facilitation measures are most important”, BOI Sri Lanka Director General Renuka Weerakone stated: “The BOI recently launched its strategic framework for the next five years, which presents a strategic approach in targeting and securing significantly higher levels of quality and sustainable foreign direct investment (FDI) for Sri Lanka, which would contribute substantially to the Government’s economic development agenda by creating employment opportunities, increasing export revenue and developing infrastructure.”

Weerakone highlighted that “within this framework, investment facilitation has been identified as a core stimulator under the overall investment policy, with a view to ensuring an efficient, transparent and predictable business climate”.

Further, she mentioned that investment facilitation has been recognized as a key measure for post-pandemic recovery of the economy. In the broader context of facilitation, the BOI engages with investors from the point of first inquiry by providing detailed information on the investment climate, priority sectors, investment incentives, country competencies, and locational advantages.

In order to streamline the approval process, the BOI has adopted several measures to enhance Investment facilitation including the “Investor Facilitation Centre”, which encompasses digitalization of the organization to handle customs functions more effectively. She also stated that BOI is focusing on facilitation to encourage existing investors to reinvest and expand their operations.

She concluded by saying that to facilitate investors, the BOI has taken various measures to assist BOI enterprises to continue with their operations despite various challenges.

 

ColomboPage - Recent 10 Stories ::
Singapore is looking forward to investing in Sri Lanka once again - PM Lee Hsien Loong
-- [19 minutes ago]
Japan ready to play a leading role with creditors to restructure Sri Lanka’s debt, Japanese FM tells President
-- [31 minutes ago]
PS member arrested in connection with Rs. 22 million robbery in Thambuttegama
-- [41 minutes ago]
Sri Lanka Parliament and University of Colombo jointly launch a course on Parliamentary Affairs
-- [1 hour and 56 minutes ago]
Report of the special committee related to the May 9 violent incidents to be submitted to Parliament soon
-- [2 hours ago]
Students of Colombo Ladies College first visitors to the Parliament after opening for public
-- [2 hours ago]
HNB allocates Rs. 10Mn to assist MSMEs affected by the economic crisis
-- [2 hours ago]
ComBank introduces breakthrough ‘Tap to Phone’ payments acceptance with PAYable
The country cannot be transformed by competition to protest - Acting Defense Minister
Supreme Court releases President from the case related to Easter Sunday attack

Copyright © 2000, 2020 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.