Doing business ecosystem gaining momentum, positive country image will boost FDI

Tuesday, 17 December 2024 02:22 - - {{hitsCtrl.values.hits}}

Finance and Planning Deputy Minister Dr. Harshana Suriyapperuma (right) with BOI Chairman Arjuna Herath

Finance and Planning Deputy Minister Dr. Harshana Suriyapperuma recently visited the Board of Investment (BOI) and conducted the first meeting with senior management.

At the outset, the Deputy Minister appreciated the BOI staff for their contribution to servicing existing BOI companies during the economic meltdown, which enabled business continuity without any hindrance.

The Deputy Minister further noted that they concentrated on the role of the BOI as an important agency for national development and foreign exchange earnings. The contribution of the BOI extends beyond its role as a source of foreign exchange; its performance directly impacts the livelihood of the people and creates employment opportunities for them.

With recent changes, the public expects the Government to enhance its performance in all areas of its operations, recognising the BOI as a key player in the country. As the leading organisation for investment promotion, it is crucial to demonstrate a substantial contribution to the GDP, thereby meeting the public’s expectations as a public entity.

He also said that he is mindful of the challenges the BOI faces in collaborating with other agencies. Thus, he deliberated on the process that senior BOI officials had proposed for improvements to current operations, procedures, and approval. He trusts that the organisation will continue with renewed enthusiasm to create a culture to cultivate a favourable reputation among foreign investors by offering top-notch services.

Furthermore, the Deputy Minister emphasised that the new leadership of the country, along with significant approval and international support from foreign Governments and development agencies, would serve as a catalyst for the BOI to drive better opportunities to attract more Foreign Direct Investment (FDI) to the country. This would provide the BOI with a newfound opportunity to work effectively and bring tangible results to the table. This, in turn, will secure the BOI’s future and further address critics about its performance.

In conclusion, the Deputy Minister re-emphasised that the new culture encapsulated in the mandate from the people needs to bring new thinking patterns, attitudes, and innovations that will bring much-needed FDI to the country, including the new Government approach to demonstrate a “zero tolerance of corruption.”

Hence, he emphasised that the doing business ecosystem is already gaining momentum with international acceptance, and he believes that the BOI would work together with passion and a unified vision to make Sri Lanka the best place for FDI in Asia.

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