Points of Contact / Investor Facilitation Centre
The BOI currently facilitates investors on a sector-focused approach.
These sectors (together with special units to handle high profile projects and regional initiatives) cover all vital areas of the economy.
Board of Investment of Sri Lanka (BOI)
The Board of Investment of Sri Lanka is the central facilitation point for investors. They provide assistance and advice throughout the investment process. The BOI of Sri Lanka completes 38 years of existence in 2016. In this time, it has acted as an engine of growth creating a considerable impact on the country’s economic development. The BOI is structured to function as a central facilitation point for investors and is committed towards continuously improving the country’s investment climate. The Board of Directors drawn from the Private and Public sectors and its several departments are geared to facilitating the investment process.
BOI companies today employ over 470,000 workers. They account for nearly 65% of Sri Lankan exports and 86% of the country’s industrial exports. The BOI is therefore a significant agent of social change and its existence of over 36 years has radically transformed Sri Lanka both economically and socially, placing the country in a position where it can compete in an increasingly globalized world. Significantly, when you sign an agreement with the BOI, the provisions embodies in the agreement remain valid for the life of the enterprise.
If you wish to obtain country specific information, you may also contact the Country Desk Officer pertaining to the origin of your investment.
- An investment application form can be obtained from the relevant sector.
- Duly completed application forms need to be handed over to the relevant Sector Heads.
- The sectors will act as relationship managers for all investors in their sector, from project evaluation to implementation to post – investment aftercare.
Setting up in Sri Lanka
As an investor, you may select the following options to locate your project within Sri Lanka:
Locate your project within a BOI administered Export Processing Zone or Industrial Park (with required infrastructure facilities) on long-term lease basis. These zones/parks are more suitable for industrial manufacturing and processing businesses.
Locate your project outside zones
- Purchase a privately owned land on outright purchase or lease basis.
- There are government owned lands available for long term lease under different government agencies. Acquisition of government lands involve a comparatively longer process and valuation is based on current market price.
Why Sri Lanka?
- Strong Resilient Economy
- Peaceful domestic environment, favourable government policies and improved investor confidence have facilitated all the key sectors to demonstrate a commendable performance in 2013.
- Improved performances in all key sectors of the economy contributed towards the high economic growth.
- With a 56.8% contribution, the services sector remains the largest contributor to the national economy.
- The strong economic performances in Sri Lanka have lifted country’s per capita income substantially, which has enabled the country to be graduated to middle – income status from the list of Poverty reduction & Growth Trust (PRGT) eligible countries.
- The government has planned to transform Sri Lanka into a strategically important economic centre by developing five strategic hubs; a knowledge hub, a commercial hub, a naval & maritime hub, an aviation hub, and an energy hub, taking the advantage of Sri Lanka’s strategic location & resources
- Supportive Government Policies
- Sri Lanka pioneered South Asia’s economic liberalization over three decades ago. Liberalizing many areas of the economy, the government has embraced strategies and policies that are more than conducive for international investment. In fact the policy environment is undoubtedly, compelling. The following transparent investment laws aim to foster foreign direct investments.
- Total foreign ownership is permitted across almost all areas of the economy.
- No restrictions on repatriation of earnings, fees, capital, and on forex transactions relating to current account payments.
- Safety of foreign investment is guaranteed by the constitution.
- Existence of a transparent and sophisticated legal and regulatory framework covering all prerequisite business law enactments.
- Bilateral investment protection agreements with 28 countries and double taxation avoidance agreements with 38 countries
- Sri Lanka is a founder member of the Multilateral Investment Guarantee Agency (MIGA), an investment guarantee agency of the World Bank. This provides a safeguard against expropriation and non-commercial risks.
- Index of Economic Freedom measures the pro-business policy environment of a country. According to the Index of Economic Freedom – 2014, the country has been ranked 90 of 186 countries