Sri Lanka to improve investor experience via new initiatives. - Opportunity Sri Lanka
Sri Lanka to improve investor experience via new initiatives.

Sri Lanka to improve investor experience via new initiatives.

The Morning: While stressing the significance of creating a conducive environment and providing seamless services to both local and foreign investors, State Minister of Investment Promotion Dilum Amunugama pledged to uplift the investor experience in Sri Lanka to the next level with certain initiatives already undertaken by the Government.
“With all the positive initiatives implemented by the Board of Investment (BOI), to ensure seamless services, such as establishment of the Investment Facilitation Centre (IFC), digitisation of BOI functions including Customs documentation, the introduction of a partnership-finder database, five-year resident visa programme, etc., we expect that Sri Lanka’s investment environment will be more conducive to attract much-needed foreign direct investment (FDI) to the country,” State Minister Amunugama explained.
He expressed these views during a meeting held at the Ministry premises on Tuesday (11) with the participation of Plantation and Industries Minister Ramesh Pathirana and respective officials.
“Furthermore, the efforts of the Export Development Board (EDB) and Industrial Development Board (IDB) should be further amalgamated to increase investment opportunities in the country,” he added.
Meanwhile, Minister Pathirana pointed out that a raft of companies are promoting value-added products in line with the national policy to adopt an export oriented economic strategy.
Discussions also revolved around promoting mineral sand industries and thereby creating more investment opportunities.
State officials including Secretary to the Ministry of Industries Thilaka Jayasundara, BOI Director General Renuka M. Weerakone, and additional secretaries to the respective ministries were present at the meeting.

OSL take:

Sri Lankan authorities including the government of Sri Lanka are focused on wooing foreign investors into the country with the introduction of attractive packages and incentives. The country is also working on becoming an emerging business destination in the South Asian region. Sri Lanka’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by the country have also helped boost business/investment opportunities in the country. With Sri Lanka’s economy also on the recovery path after facing the impact of the global pandemic and the challenges that followed, many economic sectors in the country are on an expansion path. The private sector has also recorded growth and profits despite the challenges faced, indicating the Sri Lanka’s resilient economy. Foreign businesses/investors could therefore confidently explore opportunities in the country.

Share this:

Article Code : VBS/AT/25102022/X_1

    For More Info and Help

    Leave a Comment