Sri Lanka promises fast-track investment approvals from July 01

June 17, 2013 (LBO) – Sri Lanka’s investment promotion ministry said a new fast-track unit will be opened from July 01, to give approvals for projects within three months. Investment promotions minister Lakshman Yapa Abeywardene expects the procedure to provide all necessarily approvals, within three months, the statement said.

The Board of Investment of Sri Lanka will staff the office with six officers who have multi-lingual capabilities, the ministry said in a statement.

All applications that are submitted will be copied to the investment promotions minister and the ministry secretary who will solve any outstanding problems.

Issues that cannot be solved at a ministry level will be forwarded to a progress monitoring committee chaired by the President.