Minister to reduce overheads at BOI

Minister of Enterprise Development and Investment Promotion Rohitha Bogollagama has decided to reduce the number of floors occupied by the Board of Investment at the World Trade Centre reduce costs.

The BOI presently occupies nine floors at the WTC. The Minister has already taken steps to release one floor. The old BOI building at Sir Baron Jayatilleke Mawatha, which is vacant at present, will be renovated. Next year the Minister plans to set up the back office operations of the BOI at Sir Baron Jayatilleke Mawatha.

The move will save around Rs. 35 million annually for the BOI. The BOI has paid over Rs. 450 million as rent during the last seven years.