Newly elected FTZMA officials discussed future business with BOI

The Free Trade Zone Manufacturers Associations led by newly appointed Chairman Mr. Dhammika Fernando and new officials visited the BOI office and conducted a meeting with BOI Chairman, Mr. Dinesh Weerakkoddy. The chairman of the BOI welcomed the newly appointed FTZMA Chairman and the officials and expressed his gratitude to FTZMA for its continued support of the BOI and the Industry. The purpose of the meeting was to discuss future strategic alignment with FTZMA and the BOI in doing business further.

With the prevailing Post-IMF macroeconomics sentiment, FTZMA officials further discussed how to strengthen a better business ecosystem for the investors within the Free Trade Zone in the country.  The brand “Made in Sri Lanka” and its competitiveness as a global brand in the context of energy cost, brain drain, and alternative energy solutions were discussed. Amidst digitalization, BOI furthering its paperless services in the context of CUSDEC operation, FTZMA also emphasized furthering BOI digitization while appreciating present efforts.  The new strategic initiative of “Re-Investment” of existing BOI investors, FTZMA proposed seeking new methods to attract further reinvestment.  The emphasis on Industry 4.0 initiative usage of big data analysis for industry decision-making was discussed and it was further agreed to develop an industry database within Free Trade Zones.

During this meeting, important points such as corporate tax, joint preparation of Industrial Relations guide, priority counters for investors at BIA, forming of Investor Advisory Committee, and especially emphasizing the implementation of ESG framework in zones, importation of electric cars, further usage of mobile technology for health screening foreign workers residence Visa process were discussed.