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Old December 7th, 2007, 01:24 AM   #41
saraprobe
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BOI Signs Agreements Worth US $ 6.54 million

December 6, 2007: the Board of Investment of Sri Lanka signed Agreements for 14 new projects. Mr. Dhammika Perera, Chairman/ Director General, signed the Agreement on behalf of the BOI. Hon Dr. Sarath Amunugama, Minister of Enterprise Development and Investment Promotion formally presented the investors with the BOI Certificates of Registrations.
[IMG]http://i4.************/89lwd9h.jpg[/IMG]
The 14 agreements signed by the Board of Investment of Sri Lanka are for a total investment of estimated US $ 6.54 million (Rupees 726 million). These 14 projects will generate an estimated 490 employment opportunities.

Manic Rice (Private) Limited

Manic Rice signed an agreement to set up a Rice Mill. The mill located at Trincomalee is an investment of Rupees 45 million. The project is expected to generate employment for 30. Mr. M Koneswaran, Director signed the agreement of behalf of the company.

South Asia Laundry Lanka (Private) Limited

The agreement signed with South Asia Laundry Lanka is to set up a washing plant at Pugoda. The US $ 500,000 investment is from Singapore. The venture will create employment opportunities for 60. Mr. Prithiv Dorai, Director signed the agreement of behalf of the company.

Captain Farming Enterprises (Private) Limited

Captain Farming Enterprises, a project under Nipayum Sri Lanka 300 Enterprise Programme signed an agreement to manufacture sunflower oil and other sunflower related products. The venture located at Rideemaliyaddha is expected to provide employment for a work force of 100. This is an investment of Rupees 60.5 million. Mr. M M Nizar, Director and M N M Raizan, Director signed the agreement of behalf of the company.

Ocean Rich Seafood (Private) Limited

An agreement to undertake deep sea fishing and processing fish for export was signed with Ocean Rich Seafood. The company has identified Japan and Europe as potential export markets. The project sponsored by investors from the United States of America is an investment of US $ 500,000. The venture located at Mutwal Fishery Harbour is expected to provide 30 employment opportunities. Mr. Jason Chen, Chairman signed the agreement of behalf of the company.

Lexus Residencies (Private) Limited

Lexus Residencies signed an agreement to construct housing / apartment complexes at Wattala and Kaduwela. The venture is an investment of Rupees 271 million. Mr. Anthony Weerasinghe, Director and Indira Weerasinghe, Director signed the agreement of behalf of the company.

Orel International (Private) Limited

An agreement to set up an Export Trading House at Homagama was signed with Orel International. The US $ 100,000 investment is sponsored by Orient Electric Systems Limited. Ms. Thilaka Kodituwakku, Director and Mr. Kushan Kodituwakku, Director signed the agreement of behalf of the company.

Orel X P (Private) Limited

An agreement to manufacture and export electrical accessories was signed with Oreal X P. The project sponsored by Orient Electric Systems is an investment of US $ 500,000. The project is expected to provide employment for 40. The project would be located at Meegoda. Ms. Thilaka Kodituwakku, Director and Mr. Kushan Kodituwakku, Director signed the agreement of behalf of the company.

Izot Lanka Shrimps (Private) Limited

Izot Lanka Shrimps, a Project under Nipayum Sri Lanka 300 Enterprises Programme is a project to undertake prawn farming for the export market. Products will be exported to Russia and Europe. The Rupees 15 million is an investment from Russia. Mr. N Bertsinskiy, Managing Director signed the agreement of behalf of the company.

Raffles Solutions (Private) Limited

The agreement signed with Raffles Solutions is a project to provide IT enabled services, IT Infrastructure and development of Software. The company expects to develop software for local and foreign clients. This venture will focus on Microsoft ERP NAV and Microsoft CRM. Ms. Sujatha Nadesan, Country Manager signed the agreement of behalf of the company. This project is an investment of US $ 150,000.

English & More European Education Centre (Private) Limited

English & More European Education Centre, a Project under Nipayum Sri Lanka 300 Enterprises Programme signed an agreement to set up an English Training Institute. The institute will be located at Matara. This is an investment of Rupees 26 million from Holland. Mr. H E Baduge, Director signed the agreement of behalf of the company.

Wayamba Rice Mill (Private) Limited

Wayamba Rice Mill signed an agreement to setup a high tech rice processing mill at Ambakotte. The mill would be using new technologies developed by the company. The company has obtained Patents for a New Paddy Processing System, Boilers and Dryers developed by the company. This is an investment of Rupees 23 million from Electroref Engineers. Mr. Wimal Jayawardhana, Chairman and Upul Ekanayake, Director signed the agreement of behalf of the company.

Abad Training (Private) Limited

Abad Training, a project sponsored by Abans Limited signed an agreement to set up an Information Technology, Vocational Training and Business English Institute in Colombo. This project is an investment of US $ 120,000. The company expects to commence training by February 2008. Mr. Allen Raffel, Director signed the agreement of behalf of the company.

MAS Institute of Management and Technology (Private) Limited

MAS Institute signed an agreement to set up a Technical Education and Vocational Training Institute. The institute will be located at MAS Fabric Park premises, Thulhiriya. This project is an investment of US $ 545,000 from MAS Fabric Park Limited. Mr. Chandana Lal De Silva, CEO MIMT and Mr. Dulindra Fernando, CEO MAS Investments signed the agreement of behalf of the company.


Paxus Lanka (Private) Limited

An agreement to develop software for export was signed with Paxus Lanka. This is a US $ 150,000 investment from United States of America. Mr. Damian Mario Shaun, Director signed the agreement of behalf of the company.\


BOI 2007
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Old December 8th, 2007, 06:50 AM   #42
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Interesting investments, but no real big FDIs...
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Old February 1st, 2008, 11:22 PM   #43
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\Iranian company to manufacture Yachts in Sri Lanka

Following the successful Iranian Trade and Business Exhibition that was held in Colombo recently, a number of business opportunities have arisen as a result of the event. This exhibition succeeded in showcasing a wide range of products made and services produced or offered by companies in the Islamic Republic of Iran. The result of this was the signing of a MOU between a Sri Lankan and an Iranian company for the manufacture of a variety of boats.

The Chief Guest at this event was Dr Sarath Amunugama, Minister of Enterprise Development and Investment Promotion who actively promoted Sri Lankan- Iranian economic ties. Minister Amunugama had held discussion with the Iranian Minister of Commerce Massoud Mir Kassem, to examine ways to promote greater economic ties between the Governments and more importantly, the private sectors of Sri Lanka and Iran.

Dr Amunugama spoke of the growing ties between the two countries and said that next month, President Ahmedinajad of Iran was to make Sate Visit to Sri Lanka. Iran was going to support Sri Lanka on the construction of the Uma Oya project, a 28 km tunnel that will bring water from the Central Highlands to the Hambantota District. Iran was emerging as one of Sri Lanka's major economic partners in trade and possibly investment in the future.

Commenting on the project Minister Amunugama said that yachting, as a leisure activity had not really developed in the Subcontinent in contrast with East Asia and the Persian Gulf areas. Sri Lanka was very much dependent on land based tourism; thought steps had been taken inn areas such as whale watching. The construction of yachts in Sri Lanka offered potential to upgrade the Sri Lankan tourism industry by offering high end products.

Channa Palansuriya, Member of The BOI Board of Directors signed the MOU on behalf of the BOI. The event, which was co-ordinated and facilitated by the Board of Investment of Sri Lanka, was also an opportunity to create joint ventures between private sector establishment of Sri Lanka and Iran.

One such example of the new co-operation was the signing of a MOU for a joint venture between Fulton Yachts International of Iran and FRP Services & Co (Lanka) Ltd to manufacture various types of boats/crafts in Sri Lanka. FRP Services & Co has exported boats to the Maldives, Dubai, Qatar, Saudi Arabia, Yemen, Papua New Guinea and the Solomon Islands.

The MOU was signed on 1st February 2008 at 11 am at the Hilton Hotel by P.S (Dudley) Fernando, Chairman of FRP Services & Co and by Ali Zamani Nasser, Managing Director and Vice president of Fulton Yachts International of Tehran, Iran.

Ali Zamani Nasser was upbeat about the visit to Sri Lanka, adding that it had been most fruitful. Fulton Yachts was able to gauge first hand the potential Sri Lanka offered. Adding that Sri Lanka can do with the sea and it was a good opportunity for technology sharing between the two countries. He was confident that relations would be further expanded.

The main organizer of the exhibition Shariatmadari concluded by stating that relations between the two countries would expand further. One area that showed a lot of potential was tourism in both directions. About 10 Iranian tour operators had been present in Sri Lanka during the recent exhibition and what was needed was a direct air link between the two countries in the near future.

The project will cover the manufacture of different kinds of boats including vessels for fishing, pleasure, leisure, passenger and fast inshore boats. The project which will be located at Hendala, Wattala, will be investment of US$ 500,000.The project will create employment opportunities for 300-500 workers in Sri Lanka.

Island

Last edited by saraprobe; February 1st, 2008 at 11:31 PM.
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Old February 4th, 2008, 08:15 PM   #44
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Good to see ties between Sri Lanka and Iran tightening, now I just hope that Iran gets its act together infront of the Western World, because otherwise we might be bombarded with bad remarks and comments, due to our enhanced ties with Iran...
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Old March 6th, 2008, 11:48 PM   #45
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BOI Signs 4 New Agreements Worth US $ 50 million

[IMG]http://i27.************/1jm6nc.jpg[/IMG]

March 4, 2008 : The Board of Investment of Sri Lanka signed agreements for 4 new projects. Mr. Dhammika Perera, Chairman / Director General, signed the Agreements on behalf of the BOI. Hon Dr. Sarath Amunugama, Minister of Enterprise Development and Investment Promotion formally presented the investors with the BOI Certificate of Registrations.

Ceylinco Commercial Property Developers (Private) Limited


On behalf of Ceylinco Consolidated, its Chairman, Deshamanya Dr. Lalith Kotelawala signed the BOI Agreement for the unique property development project ‘Realty Tower’.

Realty Tower, a unique property development project will be a sophisticated state of the art Shopping and Apartment Complex. It is an architectural spectacle, rising to a height of 18 floors, in the heart of Nawala.

It will be developed in an area of 139 perches and will be the flagship project of Ceylinco Commercial Property Developers Limited, in association with Ceylinco Seylan Developments Limited and Ceylinco Investment and Realty Limited headed by Deputy Chairman Mr. Sanka Wijesinghe.

The ‘Realty Tower’, in its First Phase will rise up to 6 floors. These 6 floors will house fully air conditioned shops set in a unique atmosphere.

The value of Realty Tower is further expected to be enhanced with a 225 -Vehicle Park in the basement, a Food Court with the ‘world on a platter’, Super Market, Kiddies Play area and a state of the art Digital Cinema with 270 seating capacity.

‘Realty Tower’ project will also witness the introduction of Sri Lanka’s first Ice Skating Rink.

The Second Phase will follow soon after the completion of the Shopping Complex introducing a unique concept in apartment living for the first time in Sri Lanka.

It will house 60 luxurious Apartments, distinct in character, equipped with every conceivable comfort and sophistication. These spacious 3 bed-roomed apartments with luxurious facilities will be on the vast expanse of 10 floors, offering the most picturesque view of the greener suburbs.
This project will commence with an initial investment of US $ 33 million and is expected to provide employment opportunities for 20.

Equity Property Developers (Private) Limited

The agreement signed with Equity Property Developers is for a project set up an apartment complex. This apartment complex will be located at Mount Lavinia.

This project is an initial investment of US $ 15.5 million. Construction of the complex is expected to commence in 3 months and is expected to be carried out in 2 phases. The luxury apartment complex will contain more than 200 apartments catering to the housing requirements of the high income sector.

The apartment complex will include features such as swimming pool, spa and restaurant.

Mr. Ajith Weeratunge (Director) and Mr. Nalaka Fernando (Director) signed the agreement on behalf of the company.

Orutampa Middle East Engineering Consortium (Private) Limited


Orutampa Middle East Engineering Consortium is a project to design, develop and export architectural and electrical drawings and provide engineering services to overseas clients. The venture is expected to commence commercial operations within 2 months.

This project is an investment of US $ 600,000 and is expected to provide employment opportunities for a work force of 65. The venture located at Colombo 9 is expected to commence operations in 2 months time. The venture will be sponsored by Oru Mix Lanka Limited, a subsidiary of Jayalath Group.

Mr. Jayalath Senaratna (Chairman) signed the agreement on behalf of the company.

Amana Global (Private) Limited


The agreement signed with Amana Global is for a project to establish a regional operating headquarters company. The venture will provide technical support services, research & development services, administration services, business planning & coordination services, financial & treasury services and marketing and sales services to foreign clients.

This project is an investment of US $ 250,000 and is expected to provide employment for 5.
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Old March 15th, 2008, 02:24 AM   #46
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BOI Signs 7 New Agreements worth Rs. 717 Million

The Board of Investment of Sri Lanka signed Agreements for 7 new projects. Chairman / Director General Dhammika Pererasigned the Agreement on behalf of the BOI and formally presented the investors with the BOI Certificate of Registrations.The 7 agreements signed by the Board of Investment of Sri Lanka are for a total investment Rs. 717 million. These projects cover a range of sectors and will be generating 650 new employment opportunities.

R S Products (Private) Limited

An agreement to manufacture value added Graphite Products and Sprinklers for the export market was signed with R S Products. The project will be located at Wehera Village, Matale. The venture is an investment of Rs. 25 million.

The company will manufactue Graphite based products such as Carbon Brushes and Carbon Fibre used for Formula 1 Race Cars. Technology to implement the project will be imported from UK. The company is in the process of constructing the infrastructure.

Euro Motor Corporation (Private) Limited

Euro Motor Corporation is a project to manufacture spare parts and assemble brand new automotive vehicles for the local market. The project sponsored by Auto Ranch Motors of United Arab Emirates is an initial investment of Rs. 300 million. The venture located at Moranthuduwa is expected to provide 210 employment opportunities. The venture expects to commence commercial operations in one year and is in the process of laying the infrastructure. Equipment will be imported from Malaysia and Dubai. Mr. M Y M Nassar (Managing Director) and Mr. Nandasiri Ponnamperuma (Director) signed the agreement on behalf of the company.

Bon Bridge Holiday Resorts and Villas (Private) Limited


The agreement signed with Bon Bridge Holiday Resorts and Villas is for a project to set up a Boutique Hotel in Matara. The Boutique Hotel is an investment of Rs 78 million. The venture is expected to provide employment for a workforce of 100 and will be located at Matara Fort.

The venture is in the process of completing the construction of the hotel and expects to commence commercial operations this year. Boutique Hotel consisting of 10 rooms will include features such as a Restaurant, Ayurvedic Centre, Gymnasium and Swimming Pool. Mrs A M Wijesekara (Chairman/Managing Director) signed the agreement on behalf of the company.

United Lanka Farmers Produce (Private) Limited


United Lanka Farmers Produce signed an agreement to set up a high tech rice mill to produce rice. The venture is expected to provide employment for an initial workforce of 50.

The venture is an investment of Rs. 44 million sponsored by Daya Group. Mr. Daya Gamage, Chairman of the Daya Group said “Ampara is the largest paddy harvesting district in Sri Lanka which generates around 23% of the total production. Currently the processing is done in other areas of the country.

He said the objective of setting up the rice mills in Ampara area is to increase the value addition done in the Ampara District and to give a better price to the farmers”. He further said they expect to set up 3 high tech rice mills in the area that will produce better quality rice. Mr. Daya Gamage (Chairman) signed the agreement on behalf of the company.

Natech Labels and Systems (Private) Limited


Natech Labels and Systems is a project to manufacture barcode labels for indirect export. The project is an investment of Rs. 30 million. The venture is expected to provide 20 employment opportunities. The project is a joint venture with investors from Singapore. The venture will be using an existing factory in Colombo 5. Commercial operation is expected to commence next month. Mr. Nishan Thilakawardena (Chairman) signed the agreement on behalf of the company.

Horizon College of Business and Technology (Private) Limited


The agreement signed with Horizon College of Business and Technology is for a project to set up an Institute to provide education in Information Technology.

This is an investment of Rs. 200 million between Sri Lankan investors and investors from Singapore. The institute targets in providing education for the Sri Lankan youth as well as students from Maldives, Singapore and Malaysia. Mr. Upul Daranagama said “ He further said that the Institute expects to provide education for about 300 students per year.

The institute will award Degrees affiliated with Universities from UK and Australia. The venture is expected to provide employment for a workforce of 120. The In-house Campus will be located at IT Park, Malabe. Mr. Upul Daranagama (Country Director) signed the agreement on behalf of the company.

Eastern International Academy (Private) Limited

Eastern International Academy signed an agreement for a project to set up an Institute to provide training in Information Technology, Business Studies, Advanced English and Vocational Training at Ampara. This is an investment of Rs. 40 million sponsored by the Daya Group. The institute targets in providing education for the local youth in the Ampara area. Mr. Daya Gamage said “The institute will provide training in Information Technology, Business Studies, Advanced English and Vocational Training for job seekers”. The venture is expected to provide employment for a workforce of 50. Mr. Daya Gamage (Chairman) signed the agreement on behalf of the company.
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Old March 15th, 2008, 06:34 AM   #47
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Good, good, but we need some BIG investments badly, especially FDI...
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Old June 19th, 2008, 06:52 PM   #48
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BOI Signs 6 New Agreements worth US $ 15.5 million

June 12, 2008 : The Board of Investment of Sri Lanka signed agreements for 6 new projects. Mr. Dhammika Perera, Chairman / Director General signed the agreements on behalf of the BOI and formally presented the investors with the BOI Certificate of Registrations.

New Medicare Hospitals (Private) Limited


The agreement signed with New Medicare Hospitals is for a project to establish a hospital.

The hospital will provide all medical facilities and is equipped with state of the art medical equipment. The hospital will include 2 Operating Theatres with the latest technology for Cardiology and an Intensive Care/High Dependency Unit. The hospital has 24 Luxury Rooms with all facilities, a Labour Room and an Emergency Treatment Unit. This hospital will be established with the objective of providing the best facilities at an affordable price.

The hospital located in Colombo 10 is an investment of US $ 1.3 million. This will create around 100 employment opportunities. The hospital is expected to commence operations in 6 months.

Dr. Nihal Munesinghe (Chairman) signed the agreement on behalf of the company.

Sri Lanka Institute of Nanotechnology (Private) Limited

The agreement with Sri Lanka Institute of Nanotechnology is for a project to undertake research and development in nanotechnology for value addition and provide for export oriented manufacturing.

On behalf of Sri Lanka Institute of Nanotechnology, Mr. Ashroff Omar (Chief Executive Officer Brandix Lanka) and Mr. A. N. R. Amaratunga (Secretary, Ministry of Science and Technology) signed the agreement.

This project is an investment of US $ 4.2 million and is expected to provide employment opportunities for a workforce of 35. The venture is sponsored by National Science Foundation, MAS Holdings, Dialog Telekom, Hayleys PLC, Brandix Lanka and Loadstar. The venture will be located at the Biyagama Export Processing Zone.

Prof. Ravi Silva said that “Sri Lankan Universities are showing a great interest in Nanotechnology and Companies are coming forward to help this Sector”


Resources Granite Lanka (Private) Limited

Resource Granite Lanka is a venture for mining Granite rough blocks for the export market. The project will export mined Granite in Rough Form – Stage 2 to China and Singapore.

The venture is investment of US $ 1.5 million. The venture will provide employment opportunities for a workforce of 30 and will be located in Dodampapitiya, Mathugama.

On behalf of Resource Granite Lanka, Mr. Ray Mah (Chairman, Kether Investment) and Mr. Ruwan Madurapriya signed the agreement.

MAS Active Trading (Private) Limited


The agreement signed with MAS Active is for a project to set up an Export Trading House. The venture will work with all the manufactures of the MAS Active to increase the competitiveness of the Company. The company is expected to commence operations next month.

The venture located in Colombo is an investment of US $ 3.5 million. This will create employment opportunities for a workforce of 660.

Mr. Shirendra Lawrence (Managing Director, MAS Active) signed the agreement on behalf of the company.

Watts Lanka (Private) Limited


The agreement with Watts Lanka is for a project to manufacture solid tyres for the export market. The company expects to export solid tyres to markets in US, Europe and Middle East

On behalf of Watts Lanka, Mr. U. D. Jayantha (Director/General Manager) signed the agreement.

This project is an investment of US $ 4 million and is expected to provide employment opportunities for a workforce of 150. The venture is sponsored by UK based Investor, Luklore Limited.

D K W – Aqua International (Private) Limited

D K W – Aqua International is a venture to manufacture flexible packaging for export.

The venture will manufacture flexible packing products such as Bags on Roll, Fashion Bags and Lamination Film. Raw materials used for the production will be imported from the Middle East while the products are expected to be exported to US, Europe and Japan. The company is in the process of setting up the infrastructure required to commence operations.

The venture sponsored by Aqua Packaging Limited and D K W Plastic Industries is an investment of Rs. 123 million. The venture will provide employment opportunities for a workforce of 200 and will be located in Hatton.

Mr. Sarath Wijesinghe (Managing Director, Aqua Packaging) and Mr. D. K. Weeratunga (Managing Director, D K W Plastic Industries) signed the agreement on behalf of the company.


BOI
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Old June 19th, 2008, 08:30 PM   #49
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Quote:
Originally Posted by saraprobe View Post
Sri Lanka Institute of Nanotechnology (Private) Limited
I think that's the direction we need to move towards. R&D, not industrial production.
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Old June 21st, 2008, 07:28 PM   #50
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Yeah focus on the Tertiary and Quartenary sectors...(services and research- a knowledge based economy)...
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Old July 29th, 2008, 01:05 PM   #51
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Sri Lanka BoI offers site for an Industrial Park in Horana

Sunday, July 27, 2008, 15:00 GMT, ColomboPage News Desk, Sri Lanka.

July 27, Colombo: Board of Investment of Sri Lanka (BoI) has called a Request for Qualification (RFQ) for development of a textile manufacturing zone and a industrial park at Perth Estate in Horana.

State land extending to 223 acres, located 48 kilo meters southwest of the capital Colombo and accessible through Colombo – Horana – Ingiriya road via Wagawatte junction is currently offered for the project.

Approval of the Central Environmental Authority of Sri Lanka has already been obtained to set up the textile manufacturing zone and the industrial park within the particular land and approval is available to extract up to 20,000 cubic meters of water from the river Kalu Ganga located almost 2.5 kilo meters from the project site. Already, 33kV high tension power line capable of providing power supply up to 5 MVA has been constructed up to the site.
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Old September 19th, 2008, 06:15 PM   #52
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Sri Lanka opens investment office in Shanghai

Sept 19, 2008 (LBO) - Sri Lanka has opened an investment centre in Shanghai and appointed an official of the Shin Kwan Group, a big investor in the island, as the honorary representative of the investment promotion agency.
The Sri Lanka Centre in the Chinese port city is aimed at boosting bilateral economic relations between the two countries and promoting investment opportunities in Sri Lanka, the foreign affairs ministry said in statement.

It also said S P Tao of Shin Kwan Group, a leading investor in Sri Lanka for many years, had offered his premises at the Shanghai Mart to showcase Sri Lankan products in eastern China.

Tao's group is presently building one of the largest commercial and housing complexes in the heart of Colombo.

The foreign ministry said Lee Kang Ho, chief representative of Shin Kwan Group, has been appointed as the honorary representative of the Board of Investment of Sri Lanka in Shanghai.

"This would facilitate the promotion of investment opportunities in Sri Lanka by potential Chinese entrepreneurs through the Sri Lanka Centre."

The Sri Lanka Centre will showcase Sri Lankan products under one roof in order to market them in eastern China and attract investment to Sri Lanka.
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Old September 19th, 2008, 06:26 PM   #53
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Awesome, S.P. Tao is one of the best men ever to set foot in SL...how much has he done and is doing over the year, he must really love SL...
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Old September 24th, 2008, 08:23 AM   #54
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Hi,

Even i am thinking in that way. It helps to get more emplyoement oppurtunities as well economy growth will increase.


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Old July 24th, 2009, 01:24 AM   #55
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BOI receives ISO 9001:2000 Accreditation


The Board of Investment of Sri Lanka was awarded the ISO 9001:2000 international Standard Based Quality Management Status in May 2009, covering the full operation of the organisation. The ISO 9001:2000 certification applies to the BOI Head office and all the Export Processing Zones and Industrial Parks.

This prestigious award means that the BOI is now the first public sector institution to achieve ISO 9001:2000 international standard Quality Management Status for the full operation in this sector.

Quality Management System was developed within the organisation in two stages, initially at the BOI Head Office, Katunayake and Biyagama Zone offices. Later, the programme was extended to cover all other Export Processing Zones and Industrial Parks.

The developed system is highly customer oriented, transparent and flexible. With this Quality Management System, identifying bottlenecks and streamlining processes will be easier. It will create an objective-oriented and consistent environment and focus on quantifiable results.

lso, with the implementation of the system, the operations of the organisation has been accelerated remarkably in the achievement of its strategic direction components ie. Vision, Mission and Objectives, by establishing and monitoring of a measurement orientation culture within the organisation. According to BOI sources, investment application processing time has been reduced to one day which reflects remarkable improvement and assures a customer focused environment within the organisation.

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Old July 30th, 2009, 01:53 AM   #56
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$25M FDI EXPECTED FROM THE US

As much as $25 million as foreign investment is expected to Sri Lanka from the USA in the wake of a comprehensive Foreign Direct Investment (FDI) promotion launched by Sri Lanka’s Consul General in Los Angeles, Mr. Ananda Wickramasinghe together with senior officials of the Board of Investment of Sri Lanka (BOI) on the West Coast of the USA during last week.

The BOI delegation included Deputy Director General Mr. A.M. Chandrasiri Kulasekera and Executive Director Mr. Duminda Ariyasinghe and they held several one-on-one meetings, as well as dialogue sessions that are expected to result in the US extending its assistance towards the generation of employment opportunities for several hundred Sri Lankans.

The FDI promotion included several programmes which commenced with a roundtable dialogue session with members of the Los Angeles Chamber that was facilitated by the Los Angeles Chamber of Commerce. This was followed by a dialogue session with around 40 leading Sri Lankan entrepreneurs based in California. Thereafter the BOI team and the Consulate officials traveled to San Jose to hold several one-on-one meetings with major technology companies based in the Silicon Valley. As a result of these promotional meetings, the Sri Lankan side were in position to identify several investment projects in the fields of shrimp farming, the manufacture and regional distribution of automobile spare parts for Japanese vehicles, the introduction of a 100 acre organic eco-park for the cultivation of herbal products

and the establishment of a health resort, a television assembling plant, a residential development project with at least 25 luxury houses, the establishment of a call centre and a manufacturing facility for telephone equipment and operational systems for the global hospitality industry.

The proposed shrimp farming project is aimed facilitating Sri Lanka’s entry into the global pharmaceutical industry, as the investor intends to open a manufacturing facility in Sri Lanka to extract Glucosamine from shrimp shells, commonly used for the treatment of osteoarthritis. This innovative product is to be marketed mostly in USA. The US entrepreneur having noted Sri Lanka’s tremendous potential for growth is in the process of submitting the project proposal to the BOI for approval.

Another salient feature of the visit was the meeting conducted at the Google Campus where the BOI team were able to meet Mr. Brent Callinicos, the Senior Vice President in charge of Global Finances of Google, the most dynamic Global leader in the IT sector, in order to explore possible avenues of getting Google to Sri Lanka on an IT sector outsourcing project. It was noted that further discussions are taking place in this regard.

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