Sri Lanka launches business facilitation centre to streamline investment approvals

Sri Lanka has created a centralized National Business Facilitation Centre operating under the Presidential Secretariat to consolidate investment-related approvals and reduce administrative hurdles facing businesses. The one-stop-shop model is designed to eliminate the need for entrepreneurs and investors to navigate multiple government agencies separately, thereby accelerating project timelines and decision-making.

The initiative addresses a longstanding challenge in Sri Lanka's business environment, where investors have traditionally faced delays stemming from fragmented approval processes scattered across various ministries and departments. By centralizing these functions, the government expects to provide clearer pathways for business registration, licensing, and permit acquisition.

The establishment of the centre reflects the government's broader effort to improve the country's investment climate and competitiveness in attracting both domestic and international capital. Streamlining regulatory processes is considered critical for economic recovery and growth, particularly as Sri Lanka works to strengthen its position as a regional business hub.

The National Business Facilitation Centre is expected to serve as the primary interface between businesses and government institutions, handling documentation, coordinating between agencies, and monitoring project approval timelines to ensure efficiency.