Board of Investment (BOI) Chairman Upul Jayasuriya noted that all state institutions are duty bound to take prompt measures to expedite investment projects, especially those carried out with foreign funds.
He said so when questioned by the media as to the cause for the delay in commencing the project proposal relating to the Kantale Sugar factory received in 2015. It is revealed that the MoU in this regard was signed in July 2015, but the project could not get off the ground as it did not receive due approval from the relevant state institutions.
Besides, the land has not yet been released by the Agriculture Ministry to the investor despite several requests.
At this juncture, the Chairman noted that relevant state institutions should take prompt measures to expedite the commencement of the investments.“Moreover, the delay de-motivates investors,” Jayasuriya said.
“Sometimes, there are certain infrastructure related issues concerning electricity, Local Government bodies, obtaining environment approval etc,” the BoI Chairman attributed as being the causes for various delays.
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