BOI Unveils 'BOI Gateway' for Enhanced Investment Facilitation

Colombo, Sri Lanka - The Board of Investment of Sri Lanka (BOI) has taken a significant leap in its digital transformation journey with the official launch of "BOI Gateway," an innovative online platform designed to revolutionize the investment approval process. Developed entirely in-house by the BOI IT department, this new system promises to simplify, accelerate, and enhance efficiency for both local and international investors.

The "BOI Gateway" marks a pivotal moment for Sri Lanka's investment landscape, providing investors with the convenience of submitting their applications online. This digital-first approach is set to drastically reduce processing times and paperwork, aligning with the government's broader vision for a digitally empowered economy. By offering a streamlined and transparent application process, the BOI aims to attract more foreign direct investment and bolster the nation's position as a competitive global investment destination.

Speaking at the launch event, BOI Chairman Arjuna Herath emphasized that digitization is a vital tool for the organization's transformation journey. He said that the new system will make the entire investment application process, from submission to evaluation and final agreement signing, completely digital and transparent. "It will also allow us to monitor and follow up on this process, and it will be transparent to the investor as well," Herath noted. He also highlighted that this digitalization is a critical part of a broader set of initiatives aimed at increasing Foreign Direct Investment (FDI) to the country.

Dr. Harshana Suriyapperuma, the Secretary to the Treasury, also spoke at the event, underscoring the importance of factors beyond tax advantages for attracting foreign investors. He highlighted political stability, policy consistency, and efficient interaction as key ingredients for convincing investors to choose Sri Lanka. "Instead of sending several emails or writing multiple times, we are showing the cutting-edge position that we have achieved by allowing them to real-time engage with the BOI team," Dr. Suriyapperuma explained.

He also stressed that the new platform will help Sri Lanka compete effectively within the region for investors, leveraging the country's unique geographical location, governance structure, and the transparent, level playing field offered to both local and overseas investors. The digital initiative is part of the government's multi-faceted plan to achieve ambitious goals, including increasing FDI, boosting exports, attracting tourists, and increasing remittances, all of which are essential for the country's economic stability and growth.