brand logo

Ministerial Committee appointed for investment promotion

23 Mar 2022

  • 12-member committee to be headed by President
The Cabinet of Ministers on Monday (21) approved the proposal presented by President Gotabaya Rajapksa to appoint a Ministerial Committee on Investment Promotion. This new 12-member Ministerial Committee on Investment Promotion will be composed of the President as the Chairman; Prime Minister Mahinda Rajapaksa; Ministers Chamal Rajapaksa, S.B. Dissanayake, Pavithra Wanniarachchi, Mahinda Amaraweera, S.M. Chandrasena, and Mahindananda Aluthgamage; and State Ministers Dr. Nalaka Godahewa, D.V. Chanaka, and Duminda Dissanayake. One of the objectives of this Ministerial Committee on Investment Promotion will be to provide the required policy and practical solutions for recognising and promoting investment opportunities in the relevant sectors, paying attention to the pioneering sectors at the national level for the accomplishment of the Government’s development targets. Another objective of the Ministerial Committee would be to appoint an officials’ committee comprising secretaries of the relevant ministries and state ministries and other relevant officers, headed by the Secretary to the President, in order to assist the above Ministerial Committee.  The new Ministerial Committee will be expected to make decisions linked to investment, including the impact on national security, utilisation of public funds, legality, environmental issues, use of land and ownership, and banking and financial issues. This newly appointed 12-member Ministerial Committee on Investment Promotion represents a revival of the Cabinet Sub-Committee on Investment Promotion proposed in 2020 by the President. According to data published by the Central Bank of Sri Lanka (CBSL), the foreign direct investment (FDI) inflows into the country in 2021 had increased 4.4% year-over-year (YoY) to $ 567 million from $ 543 million in 2020.


More News..