Sunday, August 14, 2022
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Investment Promotion Minister focuses attention on Chinese projects

China held talks with Investment Promotion Minister Dhammika Perera today on promoting Chinese projects in Sri Lanka.

Ambassador Qi Zhenhong met with Perera and exchanged views on enhancing economic and trade cooperation, promoting Chinese invested projects in Sri Lanka as well as other topics of mutual interests, the Chinese Embassy in Colombo said.

A gazette notice was issued this week bringing a number of institutions, including some Chinese funded projects under Investment Promotion Minister Dhammika Perera.

The gazette notice issued by President Gotabaya Rajapaksa brought the Board of Investment of Sri Lanka, Colombo Port City Economic Commission, Projects related to Colombo Port City, Department of Immigration and Emigration, Colombo Lotus Tower Management Company (Pvt.) Limited, Techno Park Development Company (Pvt.) Limited and Information Technology Parks under the Minister of Investment Promotion Dhammika Perera.

The new Minister has been tasked with promoting foreign direct investment and private sector investments in Sri Lanka.

Other duties entrusted to the new Minister includes formulation of policies, strategies, programmes and projects to enhance regional trade and investment cooperation, promotion, regulation and monitoring of economic development zones.

He has also been given the task to develop the Colombo Port City Special Economic Zone as an international business and services hub with specialized infrastructure and other facilities aimed at national interest and economic advancement.

Dhammika Perera also has the responsibility of establishing the Colombo Lotus Tower as a business model and promoting it as a tourist centre.

The business tycoon took oaths recently as a Member of Parliament replacing Basil Rajapaksa as a National List MP

The Board of Investment (BOI) yesterday launched the five-year residence visa program dedicated to investors, stakeholders and BOI enterprises.

Issuing long-term visas for investors has been the practice as per the international standards. On par with matching the international benchmark in respect of ease of doing business, the BOI has decided to launch this program to attract more investors to the country.

The long-term visa program, a long-felt need, primarily aims to facilitate the investors who wish to embark on a journey with the BOI.

The BOI annually issues 7500-8000 visa recommendations for investors, employees and dependents.

The BOI has granted visas for foreign nationals from 109 countries such as India, the United Kingdom, Japan, Korea, Malaysia and Pakistan which represent the most applicants based on last year’s statistics.

Addressing the gathering, Investment Promotion Minister Dhammika Perera said “The happiness on the faces of those investors present at the occasion, implies that the newly launched visa residence scheme is a success,”

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