The Select Committee of Parliament to study the practical problems and difficulties that have arisen in relation to enhancing the rank in the Ease of Doing Business Index in Sri Lanka and make its proposals and recommendations, took into discussion the future of the Board of Investment of Sri Lanka, its plans, actions, identified difficulties and its sectors expected to invest. A presentation was done on this regard.
The discussion took place at the Select Committee of Parliament to study the practical problems and difficulties that have arisen in relation to enhancing the rank in the Ease of Doing Business Index in Sri Lanka and make its proposals and recommendations chaired by Hon. Madhura Withanage, Member of Parliament Thusrday (26) in Parliament.
Many officials representing the Board of Investment of Sri Lanka, Ministry of Investment Promotion, Ministry of Environment, Colombo Port City Economic Commission, Department of Forest Conservation, Ministry of Tourism & Lands, Central Environmental Authority, Ministry of Justice and Ministry of Industries were present at the Committee meeting held.
Therefore, the practical problems related to the promotion of investments in Sri Lanka were taken into discussion and the opinions and suggestions of the Investment Promotion Board were examined. Furthermore, there was a discussion regarding the high level of investment in countries like Vietnam and Malaysia and the measures to be taken to reach that level in Sri Lanka.
Moreover, the need to properly mine the mineral resources in Sri Lanka and sell them to the foreign market was also discussed.
Furthermore, creating one place to expeditiously obtain external approvals for various parties coming for investment and reducing the time taken for those approvals were discussed. The committee focused on promoting investments in Sri Lanka by way of establishing good communication between various sectors.