The Board of Investment of Sri Lanka (BOI) hosted a knowledge-sharing workshop led by the Australian Trade and Investment Commission (Austrade), focusing on Australia’s strategy and practices for promoting and attracting foreign direct investment (FDI).
The workshop followed an earlier session on Austrade’s Trade Promotion and Facilitation programme and formed part of an activity identified under the bilateral Trade and Investment Facilitation Agreement (TIFA) Action Plan between Sri Lanka and Australia.
The session provided BOI officials with insights into Austrade’s approach to attracting productive FDI, including its priority sectors, investor targeting methods, value propositions, international promotion strategies and approaches to investor engagement. Drawing on international best practices, the workshop took a practical approach aimed at supporting the ongoing development of the BOI’s own investment attraction strategy, particularly in sectors where Sri Lanka holds competitive advantages.
Backing from the highest levels
Australian High Commissioner to Sri Lanka Mathew Duckworth delivered the keynote address, highlighting Sri Lanka’s potential to attract greater investment by leveraging its skilled workforce and strategic geographic position.
“In my role here, I study the Sri Lankan economy a lot and I see a lot of competitive advantage here. The way that Sri Lanka can maximise this is by ensuring you have domestic settings that will attract the investment … to enable you to harness the value from the competitive advantage you have in your skilled workforce and your strategic location in this part of the world,” he said.
The workshop was conducted by Australian Trade and Investment Commission Trade and Investment Commissioner Andrew Carter, while BOI Chairman Duminda Hulangamuwa delivered the welcome remarks, underscoring the importance both institutions place on strengthening bilateral cooperation in investment promotion.
A strategic response to global competition
Austrade, the Australian Government’s national trade promotion and investment attraction agency, is recognised as a leading investment promotion agency globally. Its approach focuses on priority sectors while working across different levels of government and with industry to support investment attraction objectives.
As global investment patterns continue to evolve, countries are increasingly required to compete strategically for high-quality FDI that can contribute to economic growth, employment, technology transfer and sustainability.
Against this backdrop, stronger institutional coordination, strategic planning and investor-service capabilities can enhance the role of investment promotion agencies in supporting international investors and converting investment opportunities into viable projects.
Workshop focuses on investor attraction
The programme covered key elements of Austrade’s FDI attraction strategy, including priority sectors, international branding, investor targeting and the development of sector-specific value propositions.
Participants also examined Austrade’s investor service delivery model, including case studies, digital tools and other enablers, as well as the agency’s approach across the investor lifecycle—from investment promotion and attraction to facilitation, aftercare and retention.
The sessions further explored Austrade’s organisational structure and operating model, the changing global investment environment, pipeline management, digital investment tools and value proposition development.
A case study from Austrade’s India Investment Team provided practical insights into investor targeting and engagement, while representatives from the Australian Department of Foreign Affairs and Trade contributed to discussions on government policy frameworks and inter-agency coordination.
Supporting Sri Lanka’s investment strategy
The workshop is expected to strengthen the BOI’s understanding of how Austrade designs and implements investment attraction strategies, particularly in relation to sector-specific promotion and investor targeting.
The knowledge gained is also expected to strengthen the BOI’s institutional capacity to engage with quality investments and support the development of value proposition briefs for Sri Lanka’s mineral and education sectors.
The initiative highlights the growing importance of strategic investment promotion as Sri Lanka seeks to attract higher-quality FDI, build on its competitive advantages and strengthen economic cooperation with international partners.
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