Press briefing of Cabinet Decision taken on 2021-02-22

Fast Tracking Investment

- Recently few internationally recognized investors have shown their interest to invest in Sri Lanka. However, since the existing mechanism to facilitate such investors seems to be lengthy, relevant investors themselves have to implement projects through the investment authorities of Sri Lanka. Under these circumstances, the Government has found the immediate necessity to initiate a more formal mechanism to encourage such investments. As such the proposal made by the Hon. Prime Minister in his capacity as the Minister of Finance, to appoint a Committee called “Cabinet Appointed Management Committee on Investment” under the Chairmanship of the Secretary to the Treasury and with the participation of relevant secretaries to ministries and the Chairman, Board of Investment of Sri Lanka, and to entrust that Committee with the responsibility of taking necessary measures to grant approval for that investment proposals, was approved by the Cabinet.