Annual Report 2010 - Ministry of Finance and Planning

4 | State Owned Enterprises (SOE)Performance Issues ChallengesSri Lanka Convention Bureau (SLCB)• Has recorded surpluses from year 2008 • Duplication of marketing andonwards, with Rs 7 Mn in 2010.promotional expenses, as the• Net assets also have increased upto Rs SLTPB also undertakes similar62 Mn in 2010, which is a 170% increase activities.when compared with the previous year. • Lack of coordination with otheractivities of the tourism industry,so that no proper contributiontowards the overall performance ofthe sectorSri Lanka Institute of Tourism and Hotel Management• Recorded surpluses since 2008, with Rs • Lack of quality training33 Mn surplus in 2010.programmes meeting international• However, the surplus was entirely due standardsto the performance of the Institute in • Lack of coordination with otherColombo, since all the other regional activities of the tourism industry,institutes are running at a lossso that no proper contributiontowards the overall performance ofthe sectorInvestment PromotionBoard of Investment of Sri Lanka (BOI)• In 2010, BOI has obtained a surplus • Lack of understanding of the scopeof Rs.142.67 Mn – an increase of 759% and objectives of BOI by senioras against the previous year. This has management.been mainly triggered by an increase in • Lack of a properly coordinatedoperating revenue.programme for identifying• However, several industrial zones such potential investment opportunities.as Biyagama, Koggala, Polgahawela, • Lack of proper programme toWathupitiwala, Mirigama and Mirijjawila identify suitable investors forIndustrial Park have incurred continuous existing investment opportunities.losses.• Lack of proper programme tomake use of the unutilized andunder utilized spaces and factoriesin existing zones.• Inadequate attention given totransform the existing 12 BOI zonesinto technologically improvedmodel zones.• Position Sri Lanka as a potentialdestination for internationalMeetings, Incentive travelConferences and Exhibitions(MICE)• To formulate and implementa proper plan to provide therequired training for the peoplein the tourism industry in orderto empower them to achieve theGovernment’s target of attracting2.5 million and 4 million tourists by2016 and 2020 respectively• Preparation of programmes forattracting the suitable investorsand facilitating to speed upinvestment approval andimplementation process.• Revival of the existing zoneswhich are operated at sub-optimallevel into productive zones byattracting suitable investors.• Transformation of 12 BOI zonesinto model zones improvingthose to the standard with regardto environment, infrastructure,employee relations and technicalimprovements.• Marketing investmentopportunities considering globaleconomic environment.232