Press briefing of Cabinet Decision taken on 2023-11-06 (Subject to Confirmation at the next Meeting)

Establishment of the Sri Lanka Economic Commission and drafting of the new Investment Bill of Sri Lanka

- Considering the necessity of having a strong mechanism to create a more favorable environment for investment and export promotion, approval was granted at the Cabinet meeting held on 2023‑01‑16 to establish a new institution by amalgamating the Board of Investment of Sri Lanka and the Sri Lanka Export Development Board. Accordingly, in order to take necessary action for this purpose, an Oversight Committee on Exports and Investment was established under the Presidential Secretariat consisting of individuals with expertise knowledge in the relevant fields. The said committee has studied all the relevant matters and submitted proposals for establishing a new institutional structure and based on the said proposals, the proposal made by the Hon. President to introduce a new investment and export promotion institutional architecture and to initiate the establishment of the Sri Lanka Economic Commission and associated units under the said architecture, was approved by the Cabinet.