BOI bestows Green Channel Awards for 35 more companies in partnership with SL Customs

Wednesday, 15 November 2023 01:48 - - {{hitsCtrl.values.hits}}

The “Green Channel” Awarding Ceremony, a tradition since its inception in 2008, reached another milestone on Monday at the Board of Investment (BOI) Auditorium.

Over the years, 124 BOI companies have received the prestigious Green Channel Award, recognising their outstanding performance and solid reputation in their respective industries. These companies have emerged as leaders in the nation’s exports, showcasing the significant potential within our business community.

This year’s selection process was exceptionally rigorous, with 126 applicants competing for the Green Channel status. After thorough evaluation by relevant BOI departments, 35 companies were chosen as the recipients of this esteemed award, in collaboration with Sri Lanka Customs. The meticulous selection process ensured that only the most deserving candidates were honoured.

The Green Channel facility has proven to be a game-changer for recipient companies, offering manifold benefits, beginning with increased buyer confidence. Another significant advantage is the exemption from physical cargo verification, expediting the shipping process and reducing operational burdens, allowing companies to focus on their core competencies. Green Channel awardees will receive a letter of norms outlining operational guidelines, serving as a roadmap to maximise the benefits and maintain high standards. In addition to the Green Channel, the Board of Investment of Sri Lanka has introduced a digital platform for all BOI companies, ushering in a paperless environment. This initiative streamlines the duty-free approval process, moving it online for increased efficiency. Validation and assessment facilities have been digitised, ensuring transparency and accountability in the system.

During the ceremony, BOI Director General Renuka M Weerakoon outlined the latest measures and regulations implemented by BOI to support foreign investment in Sri Lanka. Emphasising the importance of providing a seamless and convenient service for investors in a time-sensitive world, she highlighted the crucial time-saving mechanism that the Green Channel offers to awardees. Weerakoon also expressed the BOI’s ambitious plans for further digitisation, aligning with global best practices and showcasing a commitment to embracing technology for the benefit of the business community.

The Additional Director General of Sri Lanka Customs congratulated the BOI awardees and stressed the importance of using the Green Channel facility responsibly. The event was attended by Shipper’s Council Officials, Customs officials and Senior BOI officials, underscoring the significance of this occasion.