BOI forays into import-substitution
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Sri Lanka, Sept. 21 -- The Board of Investment will be flexible on the proportion of goods sold into the local market in line with the import substitution policy of the government. The necessary laws will be amended where required.
Minister of Export Agriculture Ramesh Pathirana said: "it is part of the President's policy of increasing exports and slowly reducing imports." Pathirana noted that investors were complaining of a lack of BOI space and as such the government has set aside 194 acres in Warakapola which will be ready in between 6-12 months.
These sentiments were expressed at a BOI staff meeting following the laying of a foundation stone for a pharmaceutical company utilising the scheme on 18 September at the Koggala Free Trade ...
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