BOI, EDB, Port City Commission back under Investment Promotion Ministry

The Government has issued a new Gazette notification changing the agencies under the purview of the Investment Promotion Ministry.

Accordingly, the Board of Investment (BOI), Export Development Board (EDB) and Port City Commission, which were previously under the Finance, Economic Stabilisation and National Policies Ministry, have been added now under the Investment Promotion Ministry.

The related gazette notification was issued last Friday with the signature of President Ranil Wickremesinghe.

However, as there is no Cabinet Minister appointed for the Investment Promotion Ministry yet, it will continue to be under the purview of President Wickremesinghe.

Some of these institutions were originally brought under the Investment Promotion Ministry which was briefly held by business leader-turned National-list Parliamentarian MP Dhammika Perera.

The re-assignment of these institutions signals a possible appointment of a new Investment Promotion Minister or a State Minister, political analysts speculated.