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The Board of Investment of Sri Lanka completes 32 years of existence in 2010. In this time, it has acted as an engine of growth creating a considerable impact on the country’s economic development. The organization had its origins in the Greater Colombo Economic Commission, which was established in 1978 to generate development in the outskirts of Colombo. Fourteen years later, in 1992, the Commission was reconstituted as the Board of Investment of Sri Lanka (BOI) with its mandate encompassing the entire island.
 
The BOI is structured to function as a central facilitation point for investors. It operates as an utmost statutory body. The Board of Directors drawn from the Private and Public sector and its several departments are geared to facilitating the investment process.
 
A high powered Cabinet Sub Committee inter-ministerial leadership providing a form for investor assistance has been set up to strengthen the BOI, clear all bottlenecks and ensure speedy clearance of investment approvals so that investors can implement projects in a hassle free atmosphere.
 
Investment climate monitoring is also being improved to ensure the nation’s competency profile. Sri Lanka’s advantages as a destination for investment will be highlighted and many of the questions risen by investors from overseas on how to set up businesses in Sri Lanka, will be addressed.
 
The BOI companies today employ over 470,000 workers, They account for nearly 65% of Sri Lankan exports and 86% of the country’s industrial exports. The BOI is therefore a significant agent of change and its quarter century existence has radically transformed Sri Lanka both economically and socially, placing the country in a position where it can compete in an increasingly globalized world.
 
Significantly, when you sign an agreement with the BOI, the provisions embodies in the agreement remains valid for the life of the enterprise. Successive Governments cannot change these provisions, ensuring a degree of stability that few other countries can offer or match.
 
 
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