Doing Business Ecosystem is Gaining Momentum, Positive country Image will enhance FDI attraction

The Deputy Minister of Finance and Planning, Dr. Harshana Suriyapperuma, visited the BOI and conducted the first meeting with senior management. At the outset, the 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 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, recognizing the BOI as a key player in the country. As the leading organization 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 mentioned 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 the improvements to the current operations, procedures, and approval. He trusts that the organization will continue with renewed enthusiasm to create a culture to cultivate a favorable reputation among foreign investors by offering top-notch services.

Furthermore, the minister emphasized 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 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 minister re-emphasized 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 emphasized 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.