3 institutions under Finance now under Investment Promotion

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Three institutions that were under the purview of the Ministry of Finance, Economic Stabilisation and National Policies have been brought under the Ministry of Investment Promotion, through an Amended Extraordinary Gazette.

Accordingly, the Board of Investment (BOI), the Export Development Board (EDB) and the Port City Commission which were under the Ministry of Finance now under the purview of the Ministry of Investment Promotion.

The gazette notification was issued on 16 September by President Ranil Wickramasinghe, as the Minister of Finance, Economic Stabilisation and National Policies.

The Ministry of Investment Promotion continues to remain under the purview of President Wickremesinghe as no Cabinet Minister has been appointed for that portfolio.

Meanwhile Dilum Amunugama, who serves as the State Minister of Investment Promotion, has been appointed as Acting Minister of Investment Promotion until the President returns to the country following his visit to the UK to attend Queen Elizabeth II’s funeral.