BOI discusses strategies with British High Commissioner to attract more FDI

Aug 26, 2020 (LBO) – Board of Investment of Sri Lanka (BOI) has engaged with the British High Commissioner to discuss strategies to attract more Foreign Direct Investment (FDI) from the United Kingdom.

Sanjaya Mohottala, the Direct General (DG) of BOI met with Sarah Hulton OBE the British High Commissioner at the High Commissioners residence recently to discuss investment promotion strategies.

The objective of this meeting was to brief the High Commissioner regarding the current investment promotion initiatives conducted by the BOI and to request assistance of the British High Commission in Colombo to target potential British companies in the selected target sectors, already identified by the BOI.

The High Commissioner and the team at the British High Commission agreed to assist the BOI via the respective British Chambers of Commerce and other counter part organizations.

During the meeting arrangements for a proposed virtual Sri Lanka forum to be held was discussed. This forum will be a good event initially to encourage potential British investors to invest in Sri Lanka. The forum will also be a follow up to the road show organized by the Sri Lanka High Commission in UK at London Stock Exchange (LSE) in close collaboration with the BOI in October 2019.

The DG requested to work towards a bilateral trade agreement between UK & Sri Lanka to promote more trade & investment. As well as UK Government’s assistance to promote the proposed Textile /Fabric Park to be established at Eravul in the Eastern Province and Pharmaceutical Zone to be established at Hambantota, by the Government of Sri Lanka.

The DG also informed that the BOI’s happy to make arrangements to organize a facilitation forum for the existing British investors to discuss their pending issues and encourage them to expanded their operations and re-invest in Sri Lanka.