The Board of Investment is forging ahead with a colossal restructuring effort, with UNDP stepping in, to guide the re-haul the top investment promotion vehicle into a leaner, more efficient structure.
Non-core functions like zone management and regulatory services are to be spun off separately, with the BOI narrowing its focus to key areas like investment promotion.rn
rnldblquote The free trade zones are to be corporatised. Initially, Katunayake and Biyagama are to be made public companies, divesting management away from the BOI
dblquote , BOI Chief Arjunna Mahendran said Monday.rn
rnldblquote This should take place within the next six months, and eventually management of all 12 zones will be taken over,
dblquote he said.rn
rnWhere zones are small, these will be clustered together, with three clusters estimated in the second phase.rn
rnDivesting non-core functions, is one of a set of proposals put forward by the United Nations Development Programme that is assisting the government to revamp th