The efforts of the BOI team to promote online services are bearing fruit; investors send positive feedback

The efforts of the BOI team to promote online services are bearing fruit; investors send positive feedback

Wednesday, August 3, 2022, 9:30 a.m. SL time, ColomboPage News Desk, Sri Lanka.

August 3, Colombo: The host of digitized and paperless services, adopted by the Department of Information Technology (IT) in collaboration with other departments of the Board of Investment (BOI) in a bid to reduce overspending and facilitating customer touchpoints, has proven successful, which is evident from the experience shared by a local investor with the BOI.

Mr. Prasantha Chandralal, Principal Consultant at MAS Intimates (Pvt) Ltd said, “We have greatly appreciated and benefited from the online systems introduced by BOI which have helped us to do our business effectively and efficiently, saving time and money with the least use of papers”,

“The Customs Import and Export Declaration Online Platform (CUSDEC) is a good example, where the system has been accelerated to get quick approvals and make payments online,” he said. He underlines.

Elaborating on the system, Mr Chandralal said: “Previously, we had to manually bring all the relevant documents to the BOI office, which took at least eight hours to finalize the process. Now, the relevant documents can be submitted through the Asycuda customs IT system, which only takes five minutes to complete the process,”

“Overall, the introduction of online services has not only boosted our business, but also increased our exports, boosting export earnings. In addition, it has prevented malpractice and eliminated undue inconvenience”

“It should also be noted that these online facilities have greatly helped us and our intimates to do business smoothly during the pandemic period,”

Mr. Chandralal therefore invited other investors to experience these smooth operations offered by the BOI in the interests of the convenience of the investors.

Apart from this, the IT department has introduced an online system to be integrated with the Ministry of Defense for the renewal of visas of existing investors, with the recommendation made by the BOI to the Ministry of Defense. In addition, spouse and dependents of investors also become eligible to apply for visas under the online system.

In addition, the official BOI website, which was previously outsourced, is now managed by the IT department, which allows the organization to achieve substantial savings and serve as an example for other state institutions. .

In addition, the procedure by which companies that sign agreements with the BOI and embark on new projects, which were previously required to periodically submit reports such as performance and evaluation reports, updates on the Job creation and manually audited financial statements to the BOI, has now been facilitated by a system developed by the IT department to submit said reports online, which is managed and reviewed by the BOI monitoring department.

Another important initiative initiated by the IT department is the launch of a system where details of areas could be viewed via Google maps allowing investors to find exactly vacant and filled land in areas in order to start new projects.

In the meantime, speaking of the steps in progress, the DSI is organizing itself to set up a fully computerized system where all the functions which come under the HRD, such as recruitment, are carried out online. At the same time, plans are also underway to integrate the Department of Immigration and Emigration to finalize the Visa Referral Program, which the BOI is already linked to the Ministry of Defence.

Commenting on online services, BOI Chairman, Raja Edirisuriya, said, “The implementation of these online platforms is another step in the journey of enabling digital services. Here, I want to make a special mention of the contribution of our IT department and other respective departments to make these efforts a reality and a success.

“The BOI continues to drive the digital transformations, which is evident and actively contributes to the business sector, in such a context where the world is increasingly embracing the digital economy,” he said.

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