Sri Lanka

Sri Lanka

Streamlined the FDI approval process

09 Jul 2022

On 9 July 2022, the Ministry of Technology and Investment Promotion took steps to streamline the foreign direct investment (FDI) approval process, by removing obstacles and bureaucratic bottlenecks in obtaining approval for foreign investment projects from the Board of Investment and other related government agencies. In particular, the FDI application form be filled by the prospective foreign investors was reduced to a single page from 14 pages with immediate effect and the approval will be given within 24 hours if the necessary requirements are fulfilled. The FDI approval process will be done online.