LSE signs BOI agreement

Investor-confidence rises:

The Board of Investment of Sri Lanka signed an agreement with the London Stock Exchange Group (LSEG) to set up its global business services arm in Sri Lanka. The agreement was signed by Chairman of the BOI of Sri Lanka, Upul Jayasuriya and LSEG Group Head of Shared Services, Martin Ryan. Also present were Sri Lanka Country Head, LSEG Business Services Ltd, Rohan Paulas, LSEG, Executive Director, Exchanges Technology, Duminda Liyanwela, Executive Director, Investment and Promotion, BOI, Renuka Weerakone and Director, Media and Publicity, BOI, Dilip S. Samarasinghe.

This project is very significant since it reflects the growing attractiveness of Sri Lanka as a destination for Foreign Direct Investments in the high technology sector. It also proves that Sri Lanka has the capacity to attract investments by leading companies in the world, and particularly from the UK.

The new facility will directly employ 400 personnel in high technology jobs.

These employees will be providing technology services which are central to the group’s global network. LSEG will invest and recruit in Sri Lanka which will further boost the country’s IT sector.

The facility will be located in the ‘Tripoli Market’ in Colombo. These companies employ over 16,350 personnel. It’s an export market of US$ 261 million in 2015.

BOI is very keen to attract investments in the IT sector as it has emerged as a growing export industry creating jobs for young qualified people.