BOI revamps for umpteenth time!
View(s):The Board of Investment (BOI) is set to make a return to the past through new moves aimed at establishing separate dedicated departments to meet the needs of investors.
Insiders said that this was announced at a meeting presided over by Investment Promotion Minister Lakshman Yapa Abeywardena and senior officers of the BOI on March 27 where it was stated that there needs to be a dedicated desk to handle from the moment they step into the office.
The minister had observed that a separate monitoring unit needs to be re-established that would act independent of other sections of the BOI thereby bringing about improved standards.
This system was brought to a halt during former BOI Chairman Jayampathy Bandaranayaka’s tenure, who, after consulting foreign experts had done away with this method and called for monitoring to be carried out within each of the units.
However, Minister Yapa noted this method was not suitable since it had led to the monitoring aspect being controlled by the respective units they were currently present in.
In this respect, it was pointed out that continuous monitoring independent of other units was vital for the efficient conduct of work at the establishment.
This monitoring mechanism is meant to be carried out continuously in a bid to ensure that the relevant BOI companies established in the country were delivering on their promises, the minister had stated.
The one stop shop concept was also re-visited by the Minister who had observed that this was crucial to provide a service by ensuring that the investor was not hassled.
Sources said that certain employees within the BOI were against these moves since they had already created for themselves comfort zones when carrying out these duties and believe they would be affected due to this.
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