MODSIT to fast track German investments in Sri Lanka

The Ministry of Development Strategies and International Trade (MODSIT) and the Board of Investment of Sri Lanka held an interactive meeting titled ‘German Sri Lankan Fast Track Dialogue with the German investor community’, to address any issues faced by investors from Germany currently operating in Sri Lanka.

The German delegation was led by Jorn Rohde, Ambassador of the Federal Republic of Germany to Sri Lanka.   German Companies which were represented included Eskimo Fashion Knitwear (Private) Limited, DHL Keells (Pvt) Ltd., Kraeuter Mix Lanka (Pvt) Ltd., Semini Motors (Pvt) Ltd-Liqui Moly and Fresenius Medical.

The discussion was led on the Sri Lankan side by Mangala Yapa Chairman of the Board of Investment of Sri Lanka with W. Gunasinghe, Additional Secretary of the Ministry of Development Strategies and International Trade and Champika Malalgoda, Director General of the BOI.  Also present were senior officials of the BOI, representatives of the Department of Fiscal Policy, Department of Inland Revenue, Sri Lanka Customs, Ceylon petroleum Cooperation and National Medicine Regulatory Authority.

In the course of discussion the delegation of both countries examined issues such as VAT refund, customs related matters, imports of oil and the registration of the medical products.  
Several of the issues discussed were resolved or efforts were made to settle pending issues.  The spirit of the discussion was very amicable and reflected the longstanding and very close ties that have always existed between Sri Lanka and Germany.