The Board of Investment (BOI), Sri Lanka’s investment promotion body, yesterday announced the digitization of several of its key functions to provide efficient service with minimal human intervention to eliminate the need for paper and improve transparency in the system.
From January 10, the new program will automate the manual collection of import and export document fees, automate the collection of verification fees and launch an export verification management system with digitized gate passes including QR codes.
“This will provide e-payment facility, round-the-clock service, transparency, reduction of human resources and cost savings,” the board of investment said in a statement.
In 1993, the establishment of industry across the island outside the investment zones led to the creation of the Central Verification Division in Orugudawatte. This agency, in collaboration with Sri Lanka Customs, carries out import and export clearances for industries and services.
Under the new system, all functions, including granting of relevant permissions, are expected to be completed through a digital system with digital identification.
As an initial step in this programme, issuance of digital gate permits started yesterday.
“BOI can attract more FDI by digitizing the investor experience and will be a good launching pad to attract much-needed digital FDI in the country,” BOI said.
