This will streamline the investment approval process, eliminating the need to navigate various ministries for clearance, and consolidating all procedures in one location.

The new commission will look into the possibility of merging the Board of Investment and the Export Development Board as it has fallen short in meeting the targets set to address the economic crisis.

The Government has undertaken numerous novel measures in pursuit of this goal. However, anticipated outcomes from the Board of Investment and the Export Board have fallen short, President Ranil Wickremesinghe said”

“Our aspiration is to construct a prosperous future for generations to come. It is our collective responsibility to fortify the economy to prevent a recurrence of last year’s adversities, he added.