Sri Lankan govt. officials should be encouraged to make faster decisions for a better Sri Lanka: BOI Chairman

Apr 01, 2015 (LBO) – Sri Lanka’s government officials are not confident enough to make quick decisions, which creates havoc in the investment environment in the island an official said.

“The decision making process should be encouraged,” Upul Jayasuriya, chairman, Board of Investment, Sri Lanka said.
“I think there are so many government departments including our own process at BOI, where they have been pushed to a situation where the decision taken by the department was not allowed to be taken,”

“The decision were taken in different departments, ministries or treasury so and so forth,”

“The officers were restrict in doing this. This has to change,” Jayasuriya said.

He further pointed out an incident that took place at the BOI where an investment proposal approval was pending for about eight months awaiting a word from Central Bank.

“We can take this decision on our own,” Jayasuriya said.

“This decision making power has been given in our BOI act, So why don’t we decide,”

Critics, investors and businessmen’s say that it takes days and days to get approvals and other a work done in the state sector

“We have to change the culture and the attitude and the thinking pattern of our people,” Jayasuriya said.

“If we do not get this right, I do not think we will not go anywhere on this path.”