BOI revitalisation a key New Year’s resolution for Sri Lanka in 2025: US Ambassador

Julie Chung Pic by Pradeep Pathirana

US Ambassador to Sri Lanka Julie Chung recently called on authorities to make the revitalisation of the Board of Investment (BOI) a key New Year’s resolution for Sri Lanka in 2025.

Chung highlighted that while stability marks the first step for the country, the real challenge lies in generating growth, improving productivity, and developing long-term economic habits.

With Sri Lanka is looking forward to a complete reset in its political and economic culture, she pointed out the importance of creating a business-friendly environment to unlock the country’s full economic potential.“Some of these resolutions for Sri Lanka can be re-energising the Board of Investment, proactively engaging the new government to promote economic growth-enhancing policies, and finding mechanisms to report and prosecute corruption, not just talk about it,” Chung said while addressing a forum organised by AmCham last week.
“Implementation of these goals should be inclusive, benefiting the thousands of small and medium enterprises which are critical to Sri Lanka’s economy,” she added.She further went on to call on the business community to actively participate in policy formation and government reforms before decisions are finalised.

The United States is keen to deepen its economic partnership with Sri Lanka to advance mutual prosperity, according to the US Ambassador, who called on all stakeholders to work together towards a shared vision.“As we look ahead, it is important to remember that resolutions are not achieved overnight. The business community, government, and international partners must work together to create an environment that fosters innovation, investment, and sustainable development,” Chung said.