Sri Lanka, Sept. 17 -- A National Business Facilitation Centre (NBFC) is set to be established next week, following Cabinet approval with the aim of bringing about a positive transformation in the industrial sector to enhance the progress of the country's economy. The National Business Facilitation Centre will be launched on September 22 to resolve bureaucratic hurdles and to assist investors to enable streamlining their investment approvals and cut administrative red tape which causes undue delay.

The NBFC will operate directly under the Presidential Secretariat with high-level co-ordination powers. The main goal is to fix delays caused by fragmented approval processes across multiple state agencies. It aims to build a resilient economy...