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| Sunday, 11 December 2005 |
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New BOI Board targets $ 1,000m in 2006 by Don Asoka Wijewardena The new BOI Board which was appointed on Wednesday will make every effort to attract US $ 1,000 million in Foreign Direct Investments in 2006. As it is an ambitious target it has to be accomplished in view of the country's potential and strengths, said National Enterprise Development and Investment Promotion Minister Rohitha Bogollagama following the appointment of the new Board of Directors to the BOI at BOI auditorium. Minister Bogollagama said that Sri Lanka could easily benefit in this positive environment, with the Free Trade Agreements associated with Indo-Lanka and Sri Lanka-Pakistan Agreements coming into major focus. He said that President Mahinda Rajapakse was very keen on developing the country in line with investment development and foreign exchange earnings and added that Sri Lanka would be vibrant in the domestic sector and attract FDI which would command a greater fillip to reduce the budget deficit and achieve 8 per cent growth. Bogollagama emphasised the need for cost-saving devices to be employed and productive measures to be introduced to make the institutional framework of the BOI productive. He said that investor services would be enhanced in terms of quality consciousness. He said that a policy on return on investment for investors would have to be introduced in Sri Lanka in the shortest possible time for investment development. BOI's efforts should register Sri Lanka as the centrepoint between India and Pakistan, the South East and the Middle-East, Europe and the Far-East, and that of the world. He also said that he would be undertaking immediate steps to enhance quality of services in the Free Trade Zones, encouraging further zones to be developed in the periphery of Sri Lanka and encourage State-private partnership. BOI Chairman Prof. Laksman R. Watawala said that the new Board of Directors appointed by Minister Bogollagama would have to work under a policy framework set by the Minister, cutting redtape and with impartiality, efficiency and co-operation. The BOI new Board of Directors comprises Prof. Lakshman Watawala (Chairman-Director General), Dr. Bandula Perera, (Additional Director General), Lal Kumara Gamage, (Senior Advisor to the Minister of National Enterprise Development and Investment Promotion), Dhammika Perera (Director) and Channa Palansuriya (Director). |
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