Sri Lanka’s BOI and Surbana Jurong in consultancy MOU

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Jul14, 2016 (LBO) – Sri Lanka’s Board Of Investment (BOI) is to enter into a MoU with Singapore’s Surbana Jurong with the aim of eventually establishing a joint venture company.

“It has been identified that establishment of a government owned consultancy company is suitable to gain its entire benefits,” said the cabinet paper submitted by Development Strategies and International Trade Minister Malik Samarawickrama.

Sri Lanka’s government has identified the need for attracting more investments for making Sri Lanka an attractive investment destination by accurate assessment of investment potentialities.

Accordingly, the proposal made by Samarawickrama to sign a MoU between the BoI, Sri Lanka and the Surbana Jurong company of Singapore which provides service in a wide range of fields including city planning and designing, development management, project management, and facilities management, for establishment of the said company, was approved by the Cabinet of Ministers.

Surbana Jurong, which is partly-owned by the Singapore Government was corporatized in 2003 as a consultancy business offering full-service building consultancy solutions. Sri Lanka’s Prime Minister Ranil Wickremesinghe is due to visit Singapore next month with the island planning for Free Trade Agreement with Singapore.