BOI must become true one-stop shop for investors, says new chairman

Newly appointed Board of Investment (BOI) Chairman Duminda Hulangamuwa has pledged to restore the agency’s authority and transform it into a genuine “one-stop shop” for the investors.

Addressing the BOI staff, following his appointment, Hulangamuwa said the agency must regain the influence it once held and work towards helping narrow Sri Lanka’s longstanding trade deficit, through stronger investment inflows and export expansion.

He called on the organisation’s management and staff to work collectively towards achieving realistic investment targets, while thanking the outgoing Chairman Sulakshana Jayawardena for his contribution during his tenure.

The appointment places one of President Anura Kumara Dissanayake’s closest economic advisers at the helm of the country’s main investment promotion agency. 

Hulangamuwa, a chartered accountant with more than four decades of experience in finance, taxation, auditing and public policy, retired on June 30 as Country Managing Partner of EY Sri Lanka and Maldives. He continues to serve as the honorary Senior Economic Adviser to President, a position he has held since September 2024.

In that capacity, he has represented Sri Lanka in engagements with the International Monetary Fund and World Bank on economic reforms and macroeconomic stability, giving him direct exposure to the policy agenda, underpinning the country’s recovery efforts.

Hulangamuwa, the former Chairman of the Ceylon Chamber of Commerce, holds fellowships from CA Sri Lanka and the Chartered Institute of Management Accountants (CIMA), UK, in addition to a Bachelor of Laws degree from the University of London.

The BOI has long been viewed as a critical institution for attracting foreign capital but the investors have frequently raised concerns over the regulatory delays and the need for stronger inter-agency coordination.