ECONOMYNEXT – Sri Lanka’s state-run Board of Investment (BOI) has digitized some of its fee collection process and gate passes from Friday (10), in a move to ensure minimal human intervention and enhance the transparency, it said.
The Central Verification Division of the BOI will digitize issuing gate passes starting on Friday to provide an efficient service.
“The new program will automate the previously manual collection of import and export document fees, automate the collection of verification fees, and launch an export verification management system with digitized gate passes, including QR codes,” the BOI said in a statement.
“This will provide electronic payment facilities, 24-hour full-time service, transparency, reduction of human resources, and cost savings.”
The latest move comes amid strong demand by some foreign nations to digitize the system to ensure transparency and curb corruption among state officials to bring more foreign direct investment (FDI).
The BOI unit started the digitization in Colombo carrying out import and export clearances for industries and services in collaboration with Sri Lanka Customs.
Until the digitization system started, a significant number of BOI enterprise representatives had to visit every day and they had relied on an outdated system for filling out forms and issuing licenses.
“Under the new system, all these systems are expected to be innovated, and all tasks, including granting relevant approvals through a digital system with digital identification, are expected to be completed,” the BOI said.
“The issuance of digital gate permits commenced today as the initial step of this program. The adoption of the digitization of the BOI investor experience will act as an enabler to attract more FDI, and it will be a good launching pad for attracting much-needed digital FDIs to the country.” (Colombo/January 10/2025)
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