BOI says met $ 1 b annual investment target in just 3 months

Tuesday, 4 June 2024 02:38 - - {{hitsCtrl.values.hits}}

State Minister for Investment Promotion Dilum Amunugama with BOI Director General Renuka M. Weerakoon

The Board of Investment yesterday claimed that it met annual investment target of $ 1 billion in just three months of the year.

State Minister for Investment Promotion Dilum Amunugama had announced the BOI’s success during conversations with investors who signed investment agreements with the Board of Investment in the first quarter of this year and followed up on their business progress.

The investment objective of $ 1 was met in the first quarter of this year, with the Adani Solar project investing $ 800 million and other enterprises contracting for another $ 320 million with the BOI, a statement from the organisation said.

The meeting was primarily arranged to analyse the progress of signed projects, resolve any outstanding issues, and provide necessary support to projects signed in the first quarter of 2024. The investors who attended this event stated that they had received all necessary approval from the BOI to begin their projects. Furthermore, the majority of the enterprises are in the midst of building their projects, while a few have already begun their commercial operations by exporting.

BOI Director General Renuka M. Weerakoon who attended the event, stated that all of their investors’ problems can be resolved through the IFC (Investor Facilitation Centre), and that because all of the relevant ministries and agencies’ senior officials are available during the IFC session, any approval-related problem will be resolved in a very short period of time

Furthermore, Minister Amunugama stated that the statements made by all of the investors demonstrate that they were able to carry out their projects without issue. As a result, it serves as an excellent illustration of the Board of Investment’s efficiency.

During the session, the Minister confirmed the recent media speculation over the BOI’s future. The Minister highlighted that the BOI’s position will be aligned with worldwide marketing, and that current zones will stay under the BOI’s control, strengthening its role and preserving all employee rights.