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Industry News
BOI on the fast track to expedite investment
Tuesday, 10th January 2006
BOI Chairman Prof. Laksman R. Watawala recently told the Daily FT that 2 large investment projects have been given the green light, after the Minister of Enterprise Development and Investment Promotion Rohitha Bogollagama met potential investors last month.
The intention of the meeting was to expedite 271 projects that have been languishing for over an year.
“The US$ 150 million worth Uva Wellasse sugar development factory in Badulla and the Rs. 7.8 billion renewable energy plant have been cleared,” he said.
“The other projects are also at various stages of getting approval and will be given the green light to go ahead as soon as possible,” he added.
Professor Watawala also noted that “the BOI will have monthly, quarterly and annual targets for attracting investments and country specialists will have special programs to attract investments from their designated country.” These measures are part of the new leadership’s plans to cut the bureaucracy and gear the BOI to achieve the US$ 1 billion investment target set for 2006.
“Our staff skills will also be improved to expedite investments and improve services,” he added.
According to Professor Watawala the BOI is also planning to shift their regional offices to the respective industrial zones. Discussions are also underway to build power generation units for the Biyagama and Katunayaka industrial zones.
Copyrights Reserved 2001 Wijeya Newspapers Ltd
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