Opinion: Sri Lanka's FDI dilemma as profit repatriations surge

Sri Lanka, Jan. 31 -- By Indika Hettiarachchi

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Recently the head of the Board of Investment (BOI), the apex body in charge of promoting FDI in the country reportedly resigned. It was also reported the outgoing head of BOI saying "Without concessions, Sri Lanka needs hard reforms to attract FDI". These developments suggest emerging challenges in attracting FDI as the country emerges out of the economic crisis.

Many analysts point out that IMF conditions are acting as an impediment to attract as IMF conditions have limited government's ability to offer generous tax concessions. Sri Lanka's poor FDI track record in attracting FDIs are often linked to bureaucratic hurdles, unpredictable rules and regulation...