Sri Lanka’s BOI Hosts Investor Roundtable to Boost Economic Recovery
September 21, Colombo (LNW) The Board of Investments of Sri Lanka (BOI) recently conducted a successful investor roundtable entitled “Supporting Sri Lanka’s Recovery Through Resource Commitment.” The event, hosted at the Ministry of Investment Promotion, brought together notable investors and industry leaders from Sri Lanka and India to discuss strategic investment opportunities to aid in Sri Lanka’s economic recovery.
This roundtable proved to be an essential platform for promoting dialogue among key stakeholders, examining the investment potential in various sectors such as technology, tourism, financial services, and minerals. It also tackled challenges like regulatory barriers, infrastructure limitations, and the necessity for streamlined investment processes.
Prasanjith Wijayathilake, BOI Executive Director for Investment Promotion, highlighted the country’s strategic location, skilled workforce, and robust tourism revenues in his overview. He noted, “Sri Lanka’s resilience is evident in the steady inflows of foreign direct investment and worker remittances.
By addressing infrastructural gaps and ensuring policy consistency, we can further attract and retain foreign investors.”
Participants from diverse sectors shared insights and discussed ways to improve Sri Lanka’s investment portfolios. The dialogue underscored critical areas for enhancement, such as infrastructure development and increased market access.
Additionally, discussions included leveraging India’s proficiency in digital public infrastructure to bolster the digital economy, expanding tourism, and promoting sustainability efforts in energy efficiency and wastewater management.
BOI Chairman Dinesh Weerakkody moderated the open discussion, which aimed to create a more favorable environment for investors. “This roundtable signifies the start of ongoing dialogue that will ensure lasting collaboration between India and Sri Lanka, fostering long-term investments that will benefit both countries,” Weerakkody remarked.
Kishore Reddy, President of the India-Sri Lanka Society and Vice President of the Indian CEO’s Forum, addressed trade imbalances under the Free Trade Agreement (FTA).
He stressed the need to restructure current incentives to achieve a better trade balance between India and Sri Lanka. Reddy advocated for increasing tourism from India to Sri Lanka and emphasized India’s anticipated economic growth, which could greatly benefit Sri Lanka.
The roundtable also highlighted the significance of a sector-specific approach, particularly in technology and tourism, alongside the introduction of a formal mineral policy to encourage investment in Sri Lanka’s mineral sector.
Representatives from leading organizations, including Talliance, Taj Samudra, and the Geographical Survey and Minerals Bureau (GSMB), shared valuable perspectives on expanding opportunities in their respective sectors, reaffirming their dedication to Sri Lanka’s recovery.
The event concluded with a focus on establishing strategic partnerships, enhancing foreign investor engagement, and developing a long-term framework for sustained economic growth in Sri Lanka.
