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Sri Lanka beefs up task forces to facilitate investment

Flag of Sri Lanka. Image Source: IANS News

Colombo, May 3 : Sri Lanka has set up 54 departments that will provide investor facilitation services under seven task forces on the directives of President Ranil Wickremesinghe, an official statement said on Wednesday.

The move was part of Sri Lanka’s efforts to create an investment-friendly environment in the South Asian country by simplifying the processes involved, reducing the time taken, and making information readily available to increase efficiency, Xinhua news agency quoted the statement issued by the President’s Media Division (PMD).

The PMD said that the task forces have been given clear deliverables.

Among the tasks are delivering key outputs such as developing a digital signature system and simplifying existing forms for company registration, and improving procedure involving land registration, required certificates, and related payments, according to the statement.

Sri Lanka has been trying to streamline its investor facilitation process to attract more foreign investment.

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