BOI discussing bottlenecks faced by foreign investors

By Easwaran Rutnam

The Board of Investment (BOI) in Sri Lanka says it is in talks with the relevant officials to address bottlenecks faced by foreign investors.

Responding to a question posed by the Colombo Gazette during an online briefing, BOI Chairman Susantha Ratnayake said that the matter is on top of the BOI priority list.

He said that the BOI is in talks with the Government on how best the issues can be addressed.

Foreign investors have raised concerns in the past over a number of bottlenecks which discourages them from investing in Sri Lanka.

Earlier today HCL Technologies (HCL), a leading global technology company announced the commencement of its operations in Sri Lanka. Marking its presence in the region, HCL plans to create over 1,500 new local employment opportunities for both freshers and experienced professionals, within the first eighteen months of kick-starting its operations from its office in Colombo. A key part of HCL’s business and development strategy in Sri Lanka will be to use local talent pool of Sri Lanka for global assignments.

HCL joined hands with the Board of Investment (BOI) of Sri Lanka in February 2020 to launch its local entity — HCL Technologies Lanka (Private) Limited and set up its first delivery center in the region. Through this entity, HCL will provide services to global clients in the areas of Applications & System Integration Services and Infrastructure Services. (Colombo Gazette)

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