Every staff member in the BOI knows that 2016, was the worst year in the history of the BOI.
Even at the height of the War the BOI managed to mobilize over $500 Million. But in 2016, the BOI only mobilized a measly $400 million. 2017 is set become even worse.
Therefore unless the President the appointing authority steps up and does something fast the BOI is going to fail once more.
The Chinese Ambassador highlighted how poorly Sri Lanka is faring in attracting FDI to the country because of the way business is conducted at the BOI.
Sri Lanka has the biggest Investment Agency in South Asia, but cannot even mobilize one fraction what Bangladesh and India can mobilize. Investors complain the BOI Chief Upul Jayasuriya – a former legal officer of the BOI is the biggest stumbling block.
An investor who was hoping to do an apartment complex on Vauxhall Street told the writer the BOI Chief openly told the Japanese investor to work with his son and drop the Sri Lankan promoter.
Though he complained to higher ups no action was taken. The BOI Chief has got his son appointed to companies and gets kickbacks according to a senior BOI official.
As to why the Minister is not acting is a huge problem for the Staff of the BOI.