The Board of Investment of Sri Lanka has partnered with Australia's trade commission to strengthen its approach to attracting foreign direct investment, exchanging best practices and institutional knowledge.
The Board of Investment of Sri Lanka (BOI) has conducted a joint workshop with the Australian Trade and Investment Commission (Austrade) to enhance strategies for attracting and managing foreign direct investment. The session was organized under the bilateral Trade and Investment Facilitation Agreement Action Plan between the two countries, according to NewsWire.
Australian High Commissioner Mathew Duckworth highlighted Sri Lanka's potential as an investment destination during the event, noting that the country's skilled workforce and geographic position offer significant advantages. He emphasized that maximizing these strengths requires establishing domestic conditions conducive to investment attraction. BOI Chairman Duminda Hulangamuwa welcomed the partnership, stressing the value of strengthened bilateral cooperation on investment promotion.
The workshop, led by Austrade's Trade and Investment Commissioner Andrew Carter, focused on practical methodologies used by one of the world's leading investment promotion agencies. Participants examined Austrade's approach to targeting priority sectors, managing investor relationships throughout their engagement lifecycle, and leveraging digital tools for promotion. The program also reviewed case studies from Austrade's operations in India and coordination mechanisms involving Australia's Department of Foreign Affairs and Trade.
BOI is expected to apply insights from the collaboration to enhance its institutional capacity for engaging quality investments and developing targeted promotion strategies. The partnership will inform promotional initiatives for Sri Lanka's mineral and education sectors, according to the report.