BOI Chairman Dinesh Weerakkody emphasised the significance of industry partnerships in policy development, thereby advocating for the establishment of sector-specific advisory councils.

The envisioned purpose of these councils is to amalgamate insights from both the private and public sectors to better equip the industries for attracting investments, advising on market trends, expanding global investment networks.

The creation of the IAC is expected to empower the BOI with external expertise for an in-depth industry understanding, tackling on-the-ground issues, and strategically positioning FDI initiatives.