The government said a committee named Investment Management Committee would be appointed by the Cabinet of Ministers to encourage foreign investments. It said several internationally recognized investors have shown their enthusiasm for investing in Sri Lanka recently. However, the Sri Lanka Board of Investment (BOI) authorities had to make an attempt to implement the project through the investment authorities in Sri Lanka. “Under these circumstances, the government understood the accelerated requirement of establishment of a more formal methodology for encouraging such investments. “Thereby, a proposal tabled by the Prime Minister as the Minister of Finance to set up the Investment Management Committee was approved by the Cabinet yesterday.

Source: The Nation February 23, 2021 05:03 UTC