Sri Lanka’s free trade zones return to normal despite setbacks says Board of Investment
The Board of Investment (BOI) of Sri Lanka has stated that the operation of all free trade zone (FTZ) areas and export companies under the BOI continues to function and is bouncing back to normal conditions despite certain setbacks that were faced by the country.
The BOI has issued a statement noting, “At the same time, we are also working hand-in-hand with the Sri Lanka Customs and the Sri Lanka Ports Authority with respect to smooth import and export processes for BOI enterprises. In the face of the current circumstances, it is of utmost importance that we keep our valued foreign exchange earnings flowing into the country by providing required assistance to our enterprises by all relevant agencies.
“Therefore, the BOI wishes to thank all relevant stakeholders for the assistance provided thus far and look forward to continued co-operation of all concerned parties to ensure the smooth functioning of our enterprises.”
OSL take:
Sri Lanka is currently facing economic challenges posed by the global pandemic and its aftermath. However, the country’s history shows many instances when it had faced many internal and external challenges and emerged. Even amidst the pandemic, several key economic sectors recorded a growth momentum while many businesses in the private sector recorded profits. With Sri Lanka’s geographical positioning in the Indian Ocean, the strong trade ties and the ongoing development programme, the country is once again on the path to recovery while also showing an expansion in business/investment opportunities. Given Sri Lanka’s growing business potential and economic revival, foreign businesses/investors could confidently explore the growing opportunities in Sri Lanka.
| Article Code : | VBS/AT/25052022/Z_7 |