Cabinet approves formation of 'Investment Management Committee'
The Cabinet of Ministers has granted approval to the appointment of an “Investment Management Committee" under the Chairmanship of the Secretary to the Treasury. This is according to a proposal submitted by the Prime Minister as the Minister of Finance.
The decision has been taken due to the need to accelerate the investment process in the face of several internationally recognized investors showing their enthusiasm for investing in Sri Lanka.
The Sri Lanka Board of Investment (BOI) authorities have recognized the long winding process to implement such projects via the investment authorities in Sri Lanka. Under these circumstances, the Government has understood the need for an accelerated methodology and for the establishment of a more formal methodology for encouraging such investments.
The Committee has been entrusted with taking necessary measures for granting approval for investment proposals.