Feb 03, Colombo: The Parliament Select Committee (PSC) to study the practical problems and difficulties that have arisen in relation to enhancing the rank in the Ease of Doing Business Index in Sri Lanka and make its proposals and recommendations recently discussed the need to digitalize public and private institutions in promoting investments in Sri Lanka and the need to establish a single point for obtaining all necessary approvals for investment promptly.

The PSC met in Parliament Wednesday (01) under the chairmanship of MP Madhura Withanage and officials representing a number of sectors such as the public and private sectors including the Ceylon Chamber of Commerce, the Colombo Stock Exchange, The National Chamber of Exporters and the Federation of Chambers of Commerce and Industry were present.

Each party informed the committee about their concerns and proposals for the promotion of investment in Sri Lanka and many of the parties present were of the opinion that it is important to digitize public and private institutions and establish one place to get all necessary approvals for investment.

MP Madhura Withanage, chairman of the committee stated that proposals have been presented on this regard to the committee previously as well and accordingly he will take measures to have the President and the House informed on this regard.

The parties present also pointed out the need to restructure the government institutions to which the chairman mentioned that the views presented by the parties related to each sector as professionals are important. Therefore, he pointed out the need to raise awareness regarding this through media.

Furthermore, the parties present emphasized that the position of Sri Lanka in the ranking of countries also affects the promotion of investment and the need to come forward in those rankings. The need to develop the size and quality of the country’s market was also discussed here.

State Minister A. Aravindh Kumar, Members of Parliament Sanjeeva Edirimanna and Kokila Gunawardena were present at the Committee meeting.