BOI appoints Dr. Sulakshana Jayawardena as acting Chairman, marking a strategic leadership shift as Sri Lanka intensifies efforts to attract foreign investment and accelerate economic recovery through streamlined investment processes.
BOI appoints Dr. Sulakshana Jayawardena as acting Chairman to boost investment
The appointment of Sulakshana Jayawardena comes at a critical juncture for the Board of Investment of Sri Lanka, as policymakers seek to reposition the country as a competitive destination for global capital. With over two decades of experience in the Sri Lanka Administrative Service, Jayawardena brings a blend of policy expertise, operational execution, and sectoral insight that aligns with the country’s current economic priorities.
His leadership is expected to play a pivotal role in advancing Sri Lanka’s foreign direct investment (FDI) agenda. At a macro level, increasing FDI inflows is essential for easing external financing constraints, stabilizing the balance of payments, and supporting long-term growth. The government’s strategy increasingly hinges on improving ease of doing business, reducing bureaucratic friction, and accelerating project approvals—areas where the BOI serves as the central institutional gateway.
Dr. Jayawardena is widely recognized for his contributions to the power and energy sector, a domain that intersects directly with investment attractiveness. His work in renewable energy development, rural electrification, and regulatory framework design has helped shape infrastructure readiness, a key determinant for investors evaluating emerging markets. Reliable energy supply and transparent regulatory systems are foundational to investor confidence, particularly in capital-intensive industries.
From a systems perspective, his appointment signals an attempt to better integrate infrastructure planning with investment promotion. This is particularly relevant as Sri Lanka seeks to attract capital into high-value sectors such as advanced manufacturing, digital services, and sustainable energy—areas aligned with Industry 4.0 transformation. By leveraging his technical and administrative background, the BOI may enhance its ability to evaluate complex investment proposals and coordinate cross-sectoral implementation.
The BOI appoints Dr. Sulakshana Jayawardena as acting Chairman also reflects a governance-driven approach to institutional reform. Strengthening institutional capacity is a prerequisite for improving investor perception, especially in a post-crisis environment where credibility and consistency are closely scrutinized. His experience in stakeholder engagement across multiple government functions is likely to facilitate better coordination between ministries, regulatory bodies, and private sector participants.
Academically, Jayawardena’s credentials reinforce his policy-oriented leadership profile. He holds a PhD along with a Master’s degree in Business Studies from the University of Sri Jayewardenepura and a Bachelor of Science from the University of Peradeniya. His additional training in information technology, medical laboratory technology, and diplomacy reflects a multidisciplinary approach, which is increasingly valuable in managing complex economic ecosystems.
Looking ahead, one of the key priorities under his tenure will likely be the digital transformation of BOI processes. Digitization can significantly reduce approval timelines, enhance transparency, and improve investor experience—critical factors in global investment competitiveness. Implementing digital platforms for application processing, compliance tracking, and investor facilitation could create measurable efficiency gains.
However, challenges remain. Sri Lanka continues to face structural constraints, including regulatory inconsistencies, infrastructure gaps, and global economic uncertainties. The success of this leadership transition will depend on the ability to translate policy intent into execution, particularly in delivering tangible improvements in investment inflows and project implementation timelines.
The BOI appoints Dr. Sulakshana Jayawardena as acting Chairman at a time when strategic clarity and operational efficiency are essential. His mandate extends beyond administrative oversight to shaping the next phase of Sri Lanka’s investment landscape. If effectively executed, this transition could strengthen the country’s positioning in the global investment ecosystem and support a more resilient and diversified economic recovery.