BOI concerned over possible export revenue disruptions
- Requests public to refrain from blocking containers
The Board of Investment (BOI) Sri Lanka expressed their concern that the work of the Free Trade Zones (FTZs) have been harassed and disturbed, which would possibly result in losing the remaining foreign investors in this country and cause disruptions to export revenue in this time of need, noting it is the only fixed dollar revenue.
Issuing a statement, BOI Chairman Eng. Raja Edirisuriya said last Friday (6): “We do understand this is time for fresh thinking and a new beginning yet we need to protect most certain sources for dollars which are only certain sources of dollar income to the country.”
The BOI Chairman requested people to refrain from blocking containers, as it would consequently result in delays in export delivery to foreign countries, and hinder exports such as garments, Ceylon tea, and original Ceylon Cinnamon from reaching the global market.
“When the hard-working employees cannot go to work on time, factories cannot meet their order deadlines, and Sri Lanka will disappoint its buyers, customers, and consumers,” Eng. Edirisuriya stressed.
At the same time, due to uncertainty, he noted, there is a likelihood that investors would look elsewhere for safe investment destinations. The country will end up defaulting and will appear untrustworthy in the eyes of the buyers, customers, and foreign investors, he explained.
“It took 44 years of people’s effort – our mothers, fathers, brothers, and sisters – their blood and sweat to create the BOI, and it is responsible for 70% of overall exports, 85% of national industry exports, and over 500,000 employees; and overall, directly and indirectly, almost 2 million people and families will lose their livelihoods.”
Despite political uncertainty, people work hard to keep the country going; hence all the investors and investments in this country are safe and protected, the BOI Chairman added.