Chairman and reforms continuing – BOI

The Board of Investment (BOI) yesterday denied reports that its Chairman and Director-General has resigned and reiterated that reforms announced recently were continuing as planned.

Following is the full statement issued by the BOI yesterday.

There has been speculation in some sections of the media that the Chairman and Director General of the BOI has resigned from office following discontent in the BOI. This is inaccurate and is denied by the Chairman and the BOI.

The Chairman has clarified that he had assumed duties at the BOI with specific understanding as to the tenure of office, the details of which cannot be disclosed given its sensitive nature. There have been interactions with relevant authorities where this subject has been reviewed and the intention to abide by the original understanding has been reconfirmed. It is possible that this may have given rise to the media speculation that has been referred to above.

The Chairman has also confirmed that the organisational changes that were the subject matter of recent press releases by the BOI are continuing as planned with due consultation and consent of majority of the staff of the BOI.

The Chairman further confirms that appropriate notice will be given prior to relinquishing his role to the internal staff of the BOI and to the investor community in general.