BOI to return to investor-friendly regime, more FDI expected

Thursday, 30 April 2015 01:25 - - {{hitsCtrl.values.hits}}

Signs MoU with Oxford Business Group for report on the national economy titled ‘The Report: Sri Lanka 2016

The Memorandum of Understanding is exchanged between the Board of Investment of Sri Lanka and the Oxford Business Group. From left: Oxford Business Group Country Director Brooke Butler and BOI Sri Lanka Chairman Upul Jayasuriya – Pic by Daminda Harsha Perera

By Waruni Paranagamage Board of Investment (BOI) Chairman Upul Jayasuriya yesterday projected an influx of foreign investment following a return to investor-friendly policies. Speaking after the signing of a Memorandum of Understanding (MoU) between the BOI and the Oxford Business Group (OBG) in connection with a forthcoming report on the national economy titled ‘The Report: Sri Lanka 2016’, Jayasuriya emphasised that the BOI would henceforth focus its attention solely on the potential impact of a given investment on the Sri Lankan economy and not on extraneous considerations such as the status of an individual or country from which such investments originate. OBG is a global publishing, research and consultancy firm, which publishes economic intelligence on the markets of the Middle East, Africa, Asia and Latin America and the Caribbean The report will analyse current key drivers of economic growth, which include analysis into sectors such as industry and construction, while exploring the country’s expanding tourism sector. The publication will also offer in-depth analysis of the role that exports play in maintaining the country’s economic momentum, led by textiles and tea. Jayasuriya stated that the report would highlight the potential of investment in Sri Lanka after 30 years war. “The country has been already identified as a tourist destination. So we have to present a report to the investors about the financial situation of Sri Lanka in comparison with other countries of the world,” Jayasuriya stated. OBG Country Director Brooke Butler said that the report would become an invaluable asset that would point more potential to investors to Sri Lanka. “Sri Lanka was one of the world highest growth markets last year. Our opinion is that the Sri Lankan economy has not yet been properly understood by the global community. The report focuses on the long-term opportunities available in the country for investors.” Butler further asserted that the report would provide an overview of economic conditions and provide insights in to major trends in key economic sectors like energy, IT, telecommunication, transportation, construction, manufacturing, retail, health and education. The report will be ready by the end of this year and will be launched in Switzerland at the World Economic Forum next January. Each copy has been priced at £ 175 at no cost to the BOI. Accommodation of five international analysts and other OBG officials who come to Sri Lanka for the research will be facilitated by the BOI. OBG is a global publishing, research and consultancy firm, which publishes economic intelligence on the markets of the Middle East, Africa, Asia and Latin America and the Caribbean. Through its range of print and online products, OBG offers comprehensive and accurate analysis of macroeconomic and sectoral developments, including banking, capital markets, insurance, energy, transport, industry and telecoms.

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