Business
BOI launching ‘strategic actions’ to add to SL’s attractiveness as investment destination

The Interview:
By Lynn Ockersz
The BOI is in the process of launching ‘strategic actions’ to add to Sri Lanka’s attractiveness as a top international investment destination. In keeping with this broad aim, the BOI is taking a lead role in setting up export processing zones with all pre-clearances, so that investors experience minimum hassle, besides paving the way for increased ease of doing business, in addition to initiating paperless documentation procedures to facilitate import and export activities, among other measures, BOI Chairman Sanjaya Mohottala said.
However, while pointing out that the BOI has “not got its fair share of the FDI pie” over the years, the BOI Chairman said in an interview with The Island Financial Review that ‘It’s time for the BOI to course correct, not only where FDI is concerned, but also when it comes to quality jobs, higher value addition and inclusive growth, so that a comprehensive impact is generated. ‘
As the Head of the BOI in which main directions do you hope to develop the institution?
The BOI is the country’s apex agency for attracting FDI into Sri Lanka. It plays a primary role in providing direction for the economy of the country, under the direct purview of His Excellency the President. As the apex investment promotion agency, it must compete with over 1,000 international investment promotion agencies for a global FDI pool that has dipped by 40%. Remaining equally competitive with these other agencies therefore to global investors against this backdrop is a challenging task. We govern ourselves with the core principles of ensuring the medium to long term policy framework remains competitive and relevant and that it is infused with a strong public private partnership, as we actively canvas and convince investors to lay their stake in Sri Lanka. We have seen how compelling examples of transformations such as Investindia have experienced over the recent past and are encouraged by the results these campaigns have yielded. Using these examples, we have also launched some strategic actions recently. The recently concluded Sri Lanka investment forum (SLIF 2021), which was facilitated to optimise opportunity for the country by providing first-hand experience to international investors on what Sri Lanka has to offer, taking a lead role in setting up export processing zones with all pre-clearances, so that investors experience minimal hassle and increased ease of doing business, and launching paperless documentation procedures to facilitate our import and export activities have all been activated in line with that direction.
Are BOI companies facing any special issues currently? If so, what are they?
Companies that fall under the purview of the BOI contribute to 85% of Sri Lanka’s industrial exports and a significant portion of Services exports. It is a challenging time for all of us given that tourism receipts have not brought in revenue to the country in the past 2 ½ years. The pandemic has also challenged the realisation of FDI as investor nations also deal with the situation in their home front. Exports therefore are critical for Sri Lanka, and the BOI is supporting these companies not only because it is our duty to do so, but also, because we consider it a national task that everyone must work together on. In this regard, we have worked with the Occupational Health Directorate at MOH, along with industries, to develop guidelines for companies to operate safely and have also administered vaccines to almost all the entities who are supporting this national cause to keep everyone safe and healthy. In addition, close to 5,000 ICC beds are currently being maintained by JAAF and BOI, in collaboration with FTZMA, to ensure that employees are well looked after. All of this has aided the current attendance turnout to hover around 80%.
What are your main suggestions on reviving the local economy amid the current constraints posed by the pandemic?
Our main task is to support both propping up the economy and economic activity to stay afloat. Our priority of course is the safety of the people, which is why we doubled down earlier this year to vaccinate all zonal and non-zonal based employees. Even though we have to deal with the pandemic currently, we must also use this time to lay the foundation for a post covid Sri Lanka. Which is why we have established two zones in the recent past – one in Hambantota for Pharmaceuticals, and the other in Eravur for Textiles and Apparel. We have also been able to secure and invite strategic investments like HCL to the country. These and several other initiatives have enabled us to secure USD 2.3bn worth of investment approvals and USD 1.4bn capital formation, half of which was FDI – all in 2020. We need to now accelerate this pace and introduce investments into the funnel faster.
How effective has the BOI been over the years in bringing in FDI?
The BOI was one of the first organisations of its kind that was set up 40 years ago to capitalise on the benefits of an open economy. And while the ambition was directed correctly, over the years, other BOI equivalent agencies have overtaken Sri Lanka, and we have not got our fair share of the FDI pie. It’s time to course correct, not only where FDI is concerned, but also, when it comes to quality jobs, higher value additions and inclusive growth, so that a comprehensive positive impact is generated.
Business
Business World International Awards 2025 takes off at Mount Lavinia Hotel

The Business World International Conference and Awards Ceremony organised by Business World International Organisation INC-USA, the event which is recognized as one of the most prestigious Business Award Festivals in the Asia Pacific Region, was held at the Mount Lavinia Hotel, Colombo with the participation of several business personalities and celebrities of Sri Lanka. The Joint Chief Guests were Dr. Purna Bahadur Nepali (Ambassador of Nepal to Sri Lanka) and Prof. Dr. Dietmar Doering (Founder / Chairman – AGSEP Research and Advisory Board Member of Business World International Organization – USA). Guests of Honour were Tham Whye Long (First Secretary/Head of Chancery – High Commission of Malaysia in Sri Lanka), Prof. Dr. Rohan De Silva (President – Sri Lanka Chamber of Small and Medium Industries), (Retd) Major General R. A. J. N. Ranasingha (RSP USP NDC MSC – Sri Lanka Army), Dr. Rohan Pallewatta (Excutive Chairman of the Start-Up High Tech Company – Lanka Harness, a BOI approved company operating in the Free Trade Zone at Biyagama in Sri Lanka), Dr. Kishu Gomes (Chairman – Exterminators PLC, Group Managing Director / CEO – Dreamron Group of Companies & Advisory Committee Member – Sri Lanka Tourism), Dian Gomes (Nonorary Consul of Georgia in Sri Lanka, Chairman – Colombo School of Business Management & Independent Non-Executive Director – Nestle Lanka Ltd).
Special Guests were Rt. Rev. Bishop Prof. Dr. Nissanka Weerappulige (Advisory Board Member of Business World International Organization – USA), Prof. Dr. Dame Anoma Weeraratne Wijenayake (Advisory Board Member of Business World International Organization – USA), Gerd Heinzerling (Advisory Board Member of Business World International Organization – USA), Priyantha Padmasiri (President – Sri Lanka Canada Business Council), M. H. K. M. Hameez (Vice President – Sri Lanka Canada Business Council & Immediate Past President – Sri Lanka Malaysia Business Council). The invitees were graciously welcomed by Dr. Anthony Dexter Fernando (Chairman – Business World International Organisation USA – International Chapter), Dr. Tharindu Wijenayake (Deputy Chairman – Business World International Organisation USA – International Chapter) and Dr. Emerita Wijenayake (Project Chairperson & Director – Business World International Organisation USA – International Chapter).
Business
Sampath Bank Partners with COYLE to Champion SME Growth and Entrepreneurship

Sampath Bank recently formalised a strategic partnership with the Chamber of Young Lankan Entrepreneurs (COYLE) by signing a Memorandum of Understanding (MOU) at its Head Office. This partnership highlights Sampath Bank’s ongoing commitment to promoting innovation, driving business growth, and empowering Sri Lanka’s entrepreneurial ecosystem.
Through this collaboration, Sampath Bank will serve as the official banking partner for the COYLE Awards and the Young Lankan Program, two flagship initiatives that recognise business excellence and nurture emerging leaders. Supporting these initiatives allows the Bank to create a strong pipeline for SME engagement, provide access to tailored financial solutions, and build meaningful relationships with the country’s leading entrepreneurs.
Business
ANC hosts NUCARS 2025

ANC, a leading Lankan higher education provider, partnered with Northwood University to host the 2025 NUCARS simulation in Sri Lanka for the first time. Held from April 7–11, the event brought together students from the U.S., Europe, and Sri Lanka for an immersive, hands-on learning experience in automotive retail strategy. Twenty-two ANC students participated, showcasing their ability to compete globally. Celebrating its 28th anniversary, NUCARS emphasized teamwork, cross-cultural collaboration, and real-world business decision-making—highlighting ANC’s commitment to delivering globally recognized education and empowering students with essential skills for the international marketplace, said a release.
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