New BOI Chairman vows to restore agency’s authority, drive FDI growth as newly appointed Board of Investment (BOI) Chairman Duminda Hulangamuwa pledged to rebuild investor confidence, strengthen the agency’s role, and position Sri Lanka as a more competitive destination for investment.
New BOI Chairman vows to restore agency’s authority, drive FDI growth in Sri Lanka
Assuming office on Thursday, Hulangamuwa said restoring the BOI’s former authority and transforming it into a genuine “one-stop shop” for investors would be among his top priorities. He said these efforts would support Sri Lanka’s broader objective of narrowing its trade deficit, expanding exports and attracting higher levels of foreign direct investment.
Addressing BOI officials shortly after taking office, Hulangamuwa thanked the organisation’s senior management and staff for their commitment and contribution over the years. He called on the entire institution to continue working together to achieve realistic investment targets and deliver the results needed to support the country’s economic recovery.
He also expressed appreciation to outgoing Acting Chairman Dr. Sulakshana Jayawardena for his leadership during his tenure.
Hulangamuwa said the Board of Investment of Sri Lanka has a critical role to play in facilitating new investments and improving the overall business environment. By strengthening the agency’s institutional capacity and streamlining investor services, he said the BOI can become a more efficient facilitator for both local and international investors.
A chartered accountant by profession, Hulangamuwa brings more than four decades of experience spanning finance, taxation, auditing and public policy. He most recently served as Country Managing Partner of EY Sri Lanka and Maldives, retiring from the firm on 30 June 2026 after a distinguished professional career.
In addition to his new responsibilities at the BOI, he continues to serve as Honorary Senior Economic Adviser to President Anura Kumara Dissanayake, a position he has held since September 2024. In that capacity, he has represented Sri Lanka in high-level discussions with the World Bank and the International Monetary Fund on macroeconomic stability and economic reform initiatives.
Hulangamuwa also serves as Chairman of the Ceylon Chamber of Commerce, providing him with extensive exposure to the country’s private sector and investment landscape.
His academic and professional credentials include fellowships with the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Chartered Institute of Management Accountants (CIMA), UK, in addition to a Bachelor of Laws (LL.B.) from the University of London.
The Government expects Hulangamuwa’s appointment to strengthen the Board of Investment of Sri Lanka at a time when the country is seeking to accelerate economic growth through increased foreign direct investment, export expansion and private sector-led development.
His extensive background in taxation, fiscal policy, corporate leadership and economic reform is expected to support the BOI’s efforts to improve the investment climate, simplify approval processes and attract strategic international investors.
The New BOI Chairman vows to restore agency’s authority, drive FDI growth message signals a renewed focus on rebuilding Sri Lanka’s investment promotion framework while enhancing the BOI’s effectiveness as the country’s principal investment facilitation agency.