Financial Times

Foreign investment crucial
By Mihiri Wikramanayake
Lalith de Mel, new chairman of the Board of Investment (BOI), said last week that foreign investment could play a very important role in the development of a country.

"It can create employment, contribute capital, bring in technology and boost our export earnings under the new United People's Freedom Alliance government," he said. De Mel has a wealth of experience in the corporate sector, with specific expertise in the marketing field, having worked in a number of high profile corporations both here and overseas. The experience will hold him in good stead as he seeks to generate foreign investment.

According to de Mel, "this government clearly recognizes the important role foreign investment can play to create a strong national economy." In December 1998, at the invitation of the government, he accepted the post of Chairman Sri Lanka Telecom.

De Mel was also a Director of John Keells Holdings Ltd and CDC plc Capital Partners in the UK. Presently, he is a Director of Delmege Forsyth & Co Ltd, Serendib Hotels Ltd, Serendib Leisure Management Ltd and Hemas Holdings. "I feel I could use my experience to give something back to my country and I have accepted this role to help develop beneficial inflows of investment."

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