Customs urge BOI ‘Green Channel’ facility recipients to use the facility responsibly

by Sanath Nanayakkare

The ‘Green Channel’ facility awarded by the Board of Investment of Sri Lanka (BOI) is a coveted recognition bestowed on companies that come under the BOI for their outstanding performance and solid reputation in their respective industries. The awarding of this facility recognises the companies that have emerged as leaders in the nation’s exports, delivering significant business outcomes and positive impact on the economic growth of the country.

Since its inception in 2008, 124 BOI companies have received this prestigious award based on these merits. The Green Channel recipients enjoy the exemption from physical cargo verification, expediting of the shipping process and reducing operational burdens, allowing companies to focus on their core competencies.

This year too, 126 applicants competed for the Green Channel status subject to rigorous criteria having to go thorough evaluation processes by relevant BOI departments.

On November 13, the BOI announced that 35 companies out of the lot were chosen as recipients of this facility along with the consensus of Sri Lanka Customs which has a direct involvement in bestowing this ease of doing business facility to the qualified companies.

Shipper’s Council officials, Customs officials and senior BOI officials participated in the event underscoring the significance of the occasion.

The Additional Director General of Sri Lanka Customs, General Sudattha Silva congratulated the new batch of Green Channel recipients, but stressed on the importance of using the Green Channel facility responsibly.

BOI Director General Renuka Weerakoon outlined the recently introduced measures and regulations implemented by BOI to support foreign investment in Sri Lanka.

She emphasised the importance of providing a seamless and convenient service for investors in a time-sensitive world and highlighted the crucial time-saving mechanism that the Green Channel offers to the recipients. She also expressed the BOI’s plans for further digitisation, aligning with global best practices reflecting on its commitment to embrace technology for the benefit of the business community.

“The meticulous selection process ensured that only the most deserving candidates were bestowed with this facility. The Green Channel facility has proven to be a game-changer for recipient companies as they receive manifold benefits that generate increased confidence from their buyers,” a BOI spokesman said.

In addition to the Green Channel, the Board of Investment of Sri Lanka has introduced a digital platform for all BOI companies, ushering in a paperless environment. This initiative streamlines the duty-free approval process, moving it online for increased efficiency. Validation and assessment facilities have been digitized, ensuring transparency and accountability in the system.