EU-Sri Lanka investor dialogue to be revived

Tuesday, 23 March 2021 00:11 - - {{hitsCtrl.values.hits}}

BOI meets EU delegation to woo more FDIs

The Board of Investment (BOI) and the European Union (EU) last week met to discuss early revival of the Investor Dialogue between the two to ensure improved facilitation and promotion.

Steps towards this were discussed during a meeting between EU Ambassador Denis Chaibi, Deputy Ambassador and Head of Political Trade and Communications Section Thorsten Bargfrede and Delegation of the EU to Sri Lanka and Maldives Program Manager – International Cooperation and Development Ludovic Ciechanowski, BOI Chairman Sanjaya Mohottala, Director General Pasan Wanigasekara, Executive Director – Investment Promotion Prasanjith Wijayatilake and Director – Investment Promotion Nilupul de Silva.

In a statement, the BOI said the objective of the meeting was to revive the EU-Sri Lanka investor dialogue that was initiated by the BOI and EU in 2014 and conducted quarterly from then until 2019.

Its purpose is to develop an effective facilitation program for existing investors from the EU as well as to encourage and attract more FDI from the EU. The EU Ambassador informed that the EU will prepare the agenda for the forthcoming EU-Sri Lanka investor dialogue and finalise arrangements in coordination with the BOI to take this dialogue forward.

The meeting also provided an opportunity to discuss matters on attracting more Foreign Direct Investment (FDI) from the EU and the revival of EU-Sri Lanka investor dialogue.

During the discussion, the BOI Chairman briefed EU Ambassador regarding the forthcoming Sri Lanka Investment Forum scheduled to be held from 4-6 May, in collaboration with the Ceylon Chambers of Commerce (CCC) and the Colombo Stock Exchange (CSE). The Ambassador mentioned that the Sri Lanka Investment Forum could be promoted via the EU-Sri Lanka investor dialogue that will be revived shortly.

The EU officials also mentioned the ongoing projects with EU funding – ElectriFI and AgriFI, which are instruments managed by EDFIMC, are being currently rolled out in the country, and would invest directly in Sri Lankan companies or in a joint venture, while the BOI Director General provided a brief narrative of investment friendly reforms underway for legal systems etc.