Established in 1978, under the name Greater Colombo Economic Commission, the Board of Investment of Sri Lanka is one of the foremost investment promotion agencies in South Asia. As the apex agency for foreign direct investment in Sri Lanka, there are over 1700 enterprises under the purview of BOI in the span of its 40 years in operation.
In carrying out its primary function of investment promotion, the BOI aims at sector based investor targeting, while specializing in aftercare, navigating and regulating investor operations to reach its true and highest potential throughout the lifespan of the enterprise.
While facilitating potential investors by coordinating among Government ministries and line agencies, BOI acts as a competent source of information, providing access and convenience to all its stakeholders through its highly capable and proactive management.
To achieve the national objective of reconstructing the country with a people centric economic development with sustainable investment, under the national policy framework ‘Vistas of Prosperity and Splendor’, the Board of Investment, Identified as a key strategic government institution, BOI is responsible for attracting and facilitating FDI while building new partnerships strengthened with excellence and resilience.
Sri Lanka has gained a reputation for providing the best value-for-money ICT talent in Asia. The Island is one of the best destinations for providing off-shore services for Information Technology Enabled Service (ITEs) as well as services related to Finance and Accounting, Legal, Insurance, Banking and Telecommunications.
The value-for-money factor is derived through a high quality talent pool, which is especially attractive to Small and Medium Enterprises (SMEs) who are unable to afford the premiums charged by the larger Indian ICT Industry. The Sri Lankan IT workforce has displayed a lower upward wage pressure than many established global sourcing destinations. A recent World Bank study revealed that the country’s labor costs ranked the lowest in comparison to many other outsourcing destinations where the total cost per associate is as much as 30% lower in many cases. Being one of the key growth drivers within services exports, earnings from the sector have grown almost 8% YoY