Launches new agency to spur investments and export promotion

On 14 November 2022, the Government of Sri Lanka set up a new agency to promote investment and external trade. Accordingly, a new agency (one platform) will be established in place of the Board of Investment (BOI), the Export Development Board (EDB), the Sri Lanka Export Credit Insurance Corporation (SLECIC), the National Enterprise Development Authority, etc with the enactment of a new law. The aim is to expedite and streamline the investment approval process to cater to the needs of investors within four or five days under one roof on the directions of the President.

• Type:

  • Promotion and facilitation (Investment facilitation )

• Industry:

  • Not industry specific

• Sources:

  • sundaytimes, New agency to spur investments and export promotion, https://www.sundaytimes.lk/221127/business-times/new-agency-to-spur-investments-and-export-promotion-502916.html, 27 Nov 2022
  • adaderana, President proposes new agency for external trade and investment, http://www.adaderana.lk/news/86133/president-proposes-new-agency-for-external-trade-and-investment, 14 Nov 2022