SLASSCOM welcomes relaxation of mandatory forex conversion

SLASSCOM yesterday welcomed the Central Bank circular issued on 12 August exempting the mandatory conversion of export earnings for the IT-BPM services export sector. 

“This measure will help instil confidence, especially amongst the foreign IT-BPM companies having their captive delivery centres in the country,” SLASSCOM said in a statement. 

“Despite the recent stability issues facing Sri Lanka in the recent past, the IT-BPM sector continues to attract interest from foreign buyers and investors for its talent and innovation capabilities. This relaxation will be another plus to attract newer foreign direct investments into the sector,” it added.