What Is The Bepz In Sri Lanka?

How many EPZ are there in Sri Lanka?

Following the establishment of the Katunayake zone, BOI became involved in a massive expansion in EPZ schemes and has established 12 economic zones in the country since 1978, including nine EPZs, two industrial parks, and one export processing park (Board of Investment of Sri Lanka, March 2012) (table 1).

What is the export processing zone?

An Export Processing Zone (EPZ) is a Customs area where one is allowed to import plant, machinery, equipment and material for the manufacture of export goods under security, without payment of duty.

What is the meaning of BOI company?

The Board of Investment of Sri Lanka (BoI) (Sinhala: ශ්‍රී ලංකා ආයෝජන මණ්ඩලය Shri Lanka Ayojana Mandalaya) is the investment promotion agency of Sri Lanka. It was established in 1992, expanding the scope of the Greater Colombo Economic Commission (GCEC) which was formed in 1978.

What is BOI project?

The Board of Investment (BOI) of Sri Lanka provides assistance and advice throughout the investment process. This project is initiated by the Sri Lankan Government approved by the cabinet of Ministers with technical assistance from the World Bank and implemented by the Board of Investment of Sri Lanka.

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What are the benefits of export processing zones?

The main advantages of export-processing zones include tax incentives, lower land rentals, exemption of import, export and value-added taxes and reduced regulatory oversight in administrative and customs procedures.

Why is export Processing Zone important?

Export processing zones (EPZs) are areas within developing countries that offer incentives and a barrier-free environment to promote economic growth by attracting foreign investment for export-oriented production.

What is export process?

Exports facilitate international trade and stimulate domestic economic activity by creating employment, production, and revenues. Businesses export goods and services where they have a competitive advantage.

What is the best investment in Sri Lanka?

Government securities are debt instruments issued by the Central Bank of Sri Lanka on behalf of the Government of Sri Lanka. Government securities are considered as the safest investment available for an investor. There are two types of government securities, namely treasury bills and treasury bonds.

What is BOI approval?

Under Sec. 17 of the BOI Law, BOI is empowered to approve projects and enter into agreements with enterprises granting exemptions from laws such as Customs, subject to fulfilment of the investment threshold or any other specified requirement.

Why you should invest in Sri Lanka?

Today, Sri Lanka is ranked as the most liberalized economy in South Asia. Investors are provided with preferential tax rates, constitutional guarantees on investment agreements, exemptions from exchange control and 100% repatriation of profits. The safety of the foreign investment is guaranteed by the Constitution.

What is BOI function?

Bank of Industry encourages local industrial production and value creation through manufacturing, production and agro processing activities. The Bank primarily provides financial assistance, as well as business advisory/ support services to enterprises.

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What is BOI registration?

The Board of Investments (BOI) provides tax breaks and other incentives to registered entities that engage in activities identified as investment priorities or those which promote the general economic development of the Philippines and those that are export-oriented (where export is more than 50% of production or 70%

How do I register under BOI?

BOI Registration Process

  1. File BOI Application Form 501 along with supporting documents and filing fee.
  2. Prepare Evaluation Report (including Publication of Notice of Filing of Application and plant visit)
  3. Present to the BOI Management Committee.

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