INSUBCONTINENT EXCLUSIVE:
In a quote to even more help with financiers through fast approvals for investment tasks, therefore relieving the ease of operating, the
Board of Investment of Sri Lanka (BOI) will be approved more powers in future, Investment Promotion State Minister Dilum Amunugama stated.He
stressed that the new powers would see investors being provided more effective clearance processes for relevant tasks, using financiers
additional certainty and clarity.The State Minister made these remarks throughout a conversation accepted the BOI trade union agents
It appears that the modus operandi in getting required approvals for financial investment jobs triggers significant hindrances to
financiers, which has a significant bearing on the determination and self-confidence of the financiers to continue their company
Some projects need approvals from 70 institutions, Amunugama highlighted
In this context, attention has been drawn to leveraging a business model called the plug-and-play design where all clearances and other
prerequisites will remain in location before the project is awarded to any financier
Here, the business companies are not required to focus on the fundamental requirements for establishing an organization as everything is set
up by the pertinent authority, which would be the BOI, he explained
With the brand-new powers in place, the BOI will be geared up to act more independently and effectively and therefore, positive about wooing
more financiers to Sri Lana, Amunugama added.Moreover, the State Minister mentioned, In light of the present circumstance in the nation,
driving more financial investments and promoting tourist is the need of the hour
As such, the BOI requires to bend over backwards to make certain that financiers feel comfy and confident in doing company in Sri Lanka,
Meanwhile, Convenor of the Joint Trade Union Alliance Mahesh Abegunawardana believed, The hold-ups that are triggered owing to the
ineffectiveness of other organizations when granting approvals for jobs, are typically thought about delays of BOI
This appears with what transpired in the just recently declared open Hanthana International Bird Park where BOI was blamed for not giving
approvals on time causing a significant obstacle; nevertheless, there were no delays from our end
The BOI employees are always tailored to perform their duties with utmost capability and commitment for the improvement of the institution
and the country at big, Mr
