IMG-20231214-WA0013

Fast tracking investment projects

Fast tracking investment projects
It has been identified that time consuming approval process in Sri Lanka for an investment project is one of the key barriers in attracting investment to Sri Lanka. Accordingly, as per the instructions of H.E. the President, Secretary to the President has appointed a committee consisting of 07 Secretaries to take necessary measures such as, simplifying the existing procedures, reducing cost and  and improving transparency in order to create a business – friendly environment for the promotion of Foreign Direct Investment. The Committee is as follows

  • Mr. M.M. Nayeemudeen – Chairman
    Secretary, Ministry of Investment Promotion
  • Mr. K.D.S. Ruwanchandra – Member
    Secretary, Ministry of Ports, Shipping and Aviation
  • Mr. M.N. Ranasinghe – Member
    Secretary, Ministry of Education
  • Mr. U.D.C. Jayalal – Member
    Secretary, Ministry of Irrigation
  • Mrs. R.M.C.M. Herath – Member
    Secretary, Ministry of Wildlife and Forest Recourses Conservation
  • Mrs. J.M.T. Jayasundara – MemberMinistry of Industries
  • Mr. A.M.P.M.B. Athapaththu – Member
    Ministry of Trade, Commerce and Food Security

Investment Facilitation Committee has considered investment projects operating in and outside of the Board of Investment of Sri Lanka. Discussions and workshops were conducted with all the line agencies involved in approval for investment, issuance of licenses and clearance and studied current Standard Operating Procedures and submitted proposals to simplify the steps and to reduce the time. The report prepared including these Standard Operating Procedures and proposals for attracting investment to Sri Lanka was presented to Hon. Ranil Wickremesinghe, the President and the Minister of Investment Promotion on 14.12.2023. The approval of H.E. the President has been received for the implementation of the recommendations contained in that report and which are to be implemented in the future.

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25th Presidential Export Awards – 2023 (23rd November 2023 at BMICH)

PRESS RELEASE
(Scheduled to be published on 23 Nov. 2023)

The Sri Lanka Export Development Board (EDB) is proudly organizing the 25th edition of the Presidential Export Awards (PEA) Ceremony today (Thursday, 23rd November 2023) at the Bandaranaike Memorial International Conference Hall (BMICH) under the patronage of His Excellency the President of the Democratic Socialist Republic of Sri Lanka,
The Presidential Export Awards stands as the pinnacle of recognition bestowed by H. E. the President upon exporters who have made exceptional contributions to the country’s export sector and economic advancement. This esteemed accolade seeks to honour and acknowledge exporters who have demonstrated outstanding achievements in exports fostering growth in economic
development.
The PEA initiated by the EDB in 1981, and had organized 24 Ceremonies during the past years. In 2023, EDB is planning to organize the 25th PEA Ceremony at the BMICH with the participation of around 1,500 invitees including Hon. Ministers, Diplomatic Corps, Government officials, Award winners as well as exporters.

This year’s awards ceremony is to recognize the country’s best exporters for two financial years viz. 2021/22 and 2022/23. The awards are presented in two main categories with 13 Overall awards and 51 products/services sector awards for each financial year. Further, Merit Awards for the deserving sectors will also be awarded as decided by the Panel of Judges based on the performance of the applicants. The selections for the awards were done by an eminent Panel of Judges headed by the Retired Judge of the Supreme Court.

In line with the new Government Policy Framework, EDB has implemented new strategies to expand Sri Lanka’s exports. Accordingly, initiatives taken by the exporters in the areas of market
diversification, Product diversification, Innovation, Value addition, introduction of indigenous brands to the world, sustainable initiatives in exports, development in regional value chains, etc. were considered while designing the Overall Awards.

The selection process of Award winners is competitive as evaluation is not only based on the export earnings but also on several other criteria, such as value addition for exports, employment creation, growth of export earnings, export proceeds repatriations, environment sustainability &; corporate social responsibility etc.

This year EDB has introduced the online application portal https://pea.edb.gov.lk/ dedicated for Presidential Export Awards. This portal facilitated exporters to submit online applications through this portal. Apart from the application process, interested parties could get all the details of Presidential Export Awards such as award categories, guidelines, evaluation criteria, testimonials given by past winners etc.

The Overall and Product/Services sector award winners will receive the prestigious PEA Trophy and a Certificate. Merit Award winners will receive a Plaque and a certificate. They have the privilege to use the Presidential Export Award “Logo” as a marketing tool for a 3 years periodfrom the award date.

The PEA 2023 is organized by EDB under the guidance and directions of Hon. Dilum Amunugama, State Minister of Investment Promotion and Mr. M. M. Nayeemudeen, Secretary to the Ministry of Investment Promotion.

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Indian - 1

VIF – CII Business Delegation from INDIA

Vivekananda International Foundation – New Delhi.

Dr Arvind Gupta
Mr Amb Ashok Kantha
Lt Gen Ravi Sawhney
Mr Sunil Uplap

And a delegation of 19 industrialists who have come to Sri Lanka for investment.

CII Business Delegation of 19 industrialists from India Including  Dr Arvind Gupta, Mr Amb Ashok Kantha, Lt Gen Ravi Sawhney, Mr Sunil Uplap has come to Sri Lanka for investment.
China Open for Business, What’s Next for Sri Lanka

Panel Discussion on “China Open for Business, What’s Next for Sri Lanka”?

Participating in a panel discussion comprising Hon. Harin Fernando, Minister of Tourism and Lands, Hon. (Dr.) Harsha de Silva, Member of Parliament, Mr. K J Weerasinghe, Chief Negotiator – FTAs, Mr. LI Guangjun, Counsellor in charge of Economic and Commercial Affairs2, Mr. Ranil Goonetilleke, Chairman – Exporters Association of the Ceylon Chamber of Commerce.

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Observation tour of Pallekele Investment Zone, Kandy

During the observation tour in the investment zone in Pallekele Kandy belonging to the Board of Investment of Sri Lanka we visited Kelun Lifesciences a pharmaceutical manufacturing company that manufactures in Sri Lanka to find out about its production activities and discuss the problems they have to make those products more widely.
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Discuss Future Goals

A program to introduce the future objectives and programs of the Ministry of Investment Promotion to all Cabinet Ministry Secretaries was held at the Hilton Hotel Colombo recently.