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.