Introduces new Ministry of Technology and Investment Promotion to boost foreign investment

On 10 June 2022, the Government of Sri Lanka issued an Extraordinary Gazette notification which introduced a new Ministry of Technology and Investment Promotion. The role of the Ministry will be to promote foreign direct investment and private sector investment and its main functions include the formulation, implementation, monitoring and evaluation of policies, programs and projects, in the areas of technology and investment promotion.

The Ministry includes the Department of Registration of Persons, the Department of Immigration and Emigration, Sri Lanka Telecom and its subsidiaries as well as 15 institutions including the Board of Investment of Sri Lanka and the Sri Lanka Standards Institute.

• Type:

  • Promotion and facilitation (Investment facilitation )

• Industry:

  • Not industry specific

• Sources:

  • The Government of Sri Lanka, The Gazette of the Democratic Socialist Republic of Sri Lanka EXTRAORDINARY, http://www.documents.gov.lk/files/egz/2022/6/2283-34_E.pdf, 10 Jun 2022
  • republicworld, Sri Lanka Forms 2 New Ministries To Handle Economic Crisis After Basil Rajapaksa Resigns, https://www.republicworld.com/world-news/rest-of-the-world-news/sri-lanka-forms-2-new-ministries-to-handle-economic-crisis-after-basil-rajapaksa-resigns-articleshow.html, 10 Jun 2022
  • colombopage, Two new ministries gazetted, http://www.colombopage.com/archive_22A/Jun10_1654839708CH.php, 10 Jun 2022