The Board of Investment of Sri Lanka completes 35 years of existence in 2013. In this time, it has acted as an engine of growth creating a considerable impact on the country’s economic development. The organization had its origins in the Greater Colombo Economic Commission, which was established in 1978 to generate development in the outskirts of Colombo. Fourteen years later, in 1992, the Commission was reconstituted as the Board of Investment of Sri Lanka (BOI) with its mandate encompassing the entire island.
The BOI is structured to function as a central facilitation point for investors. BOI is committed towards continuously improving countries investment climate. The Board of Directors drawn from the Private and Public sector 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 existence over 35 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 remains valid for the life of the enterprise. Successive Governments cannot change these provisions, ensuring a degree of stability that few other countries can offer or match.