The Ministry of Technology and Investment Promotion has taken measures to streamline the investment approval process by eliminating the heavy paper work and filling of application forms with a view of attracting increased Foreign Direct Investments to the country, a senior official of the ministry said.
Prompt action has been taken to remove obstacles and bureaucratic red tape in obtaining approval for foreign investment projects from the Board of Investment (BOI) and other relevant state institutions, he disclosed.
The FDI application form with several pages to be filled by the prospective foreign investors has been reduced to a single page from 14 pages with immediate effect and the approval will be given within 24 hours if they fulfil necessary requirements, he revealed.
It has been planned to simplify the rules and regulations of the investment approval process to overcome red tape.
The new FDI online approval system has been devised on the directions of Minister Dhammika Perera. (Bandula)
A British national had been arrested over attempting to smuggle in the largest haul of kush( drugs) from Thailand, customs said.
Popular grade five tuition teacher, Hayeshika Fernando wanted over assaulting a 21 year old youth was granted bail today after she surrendered to courts.
The Government of Sri Lanka maintains that the allegation of genocide during the final phase of the conflict in Sri Lanka is unsubstantiated by any credible authority, either nationally or internationally, and is based on misleading information. Sri Lanka firmly rejects this false narrative and believes it has been propagated primarily for electoral gains within Canada.
Leave Comments