New BOI Chairman vows to restore agency’s authority, drive FDI growth

Thursday, 2 July 2026 04:37 - - {{hitsCtrl.values.hits}}

Board of Investment of Sri Lanka new Chairman Duminda Hulangamuwa (centre) assumes office yesterday

The newly appointed Board of Investment of Sri Lanka (BOI) Chairman Duminda Hulangamuwa yesterday pledged to restore the agency’s former authority and transform it into a genuine “one-stop shop” for investors, as part of a renewed push to close the country’s persistent trade deficit and accelerate export growth.

Soon after assuming office, the Chairman thanked the BOI’s Senior Management and staff for their dedication and contribution, and said he expected the same level of commitment going forward to achieve realistic investment targets. He called on the entire organisation to work closely with him in the years ahead to deliver what the country needs most at this critical juncture. He also thanked the outgoing Acting Chairman, Dr. Sulakshana Jayawardena, for his contribution during his short tenure at the BOI.

Hulangamuwa is a chartered accountant with over four decades of experience in finance, tax, audit, 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.

He continues to serve as an honorary Senior Economic Adviser to the President, a role he has held since September 2024, through which he has represented Sri Lanka in high-level engagements with the World Bank and the International Monetary Fund on macroeconomic stability and economic reform. He is also Chairman of the Ceylon Chamber of Commerce.

Hulangamuwa holds fellowships with the Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) and the Chartered Institute of Management Accountants, UK (CIMA), and a Bachelor of Laws (LL.B.) from the University of London.

His appointment brings a rare combination of professional services, leadership, tax and fiscal policy expertise, and direct advisory experience at the highest levels of government to BOI’s mandate of positioning Sri Lanka as a competitive destination for foreign direct investment.