BOI continues dialogue with industries as Ditwah disrupts production and exports

• Sets up support unit to provide continuous, expedited support to restore operations, including import/export approvals and handling damaged goods
• BOI Chief Arjuna Herath says will ensure the right policies, financial help, and teamwork between agencies are in place to support the speedy recovery 

The Board of Investment of Sri Lanka (BOI) said Cyclone Ditwah has left Sri Lanka dealing with a national disaster of unprecedented scale, causing severe economic disruptions across multiple sectors. Significant disruptions to industrial operations, supply chains, and export activities underscore the urgent need for coordinated recovery efforts.

In response, the BOI has taken a leading role in assessing the extent of damage to BOI-registered enterprises and identifying the support needed for a speedy recovery.

In a statement, the BOI said it was conducting a comprehensive evaluation of the support required by affected enterprises to recover from cyclone damage and to facilitate the early resumption of production and export activities. As an initial step, the BOI collected detailed data from impacted enterprises to determine the scope and nature of losses.

Following this, a special impact assessment forum was held on 19 December at the BOI Auditorium. The forum brought together 36 participants from 26 BOI-registered enterprises adversely affected by Cyclone Ditwah. The main goal was to engage directly with these enterprises, enabling the BOI to gain firsthand insights into damages to property, machinery, equipment, and critical infrastructure, and to explore possible support options.

The discussions provided a vital platform for enterprises to share their experiences, challenges, and immediate needs. This exchange was a major milestone toward developing effective recovery strategies, identifying relief measures, and enhancing collaboration between the BOI and other government agencies.

Addressing the attendees, BOI Chairman Arjuna Herath and Director General Renuka M. Weerakoon reaffirmed the institution’s commitment to supporting affected industries during this critical time. They stressed that the BOI would do everything within its mandate to help enterprises overcome the setbacks caused by the cyclone, restore operations, and move toward recovery.

Additionally, the BOI will establish a 24/7 support unit at the Investor Services Department, Level 06, West Tower, World Trade Centre, to provide continuous and expedited support for enterprises in restoring their operations, including import/export approvals and handling damaged goods.

The Chairman also mentioned that key topics will be discussed with the Finance Ministry to ensure the right policies, financial help, and teamwork between agencies are in place to support the speedy recovery and lasting success of BOI-registered businesses impacted by Cyclone Ditwah. 

Source: DailyFT