Lanka IOC boss granted special residence visa to woo more foreign investments to crisis-hit country

The head of the Lanka IOC, the subsidiary of Indian Oil Corporation NSE 0.40 % in Sri Lanka, has been granted a special resident permit in line with the new policy of wooing foreign investments to the cash-starved island nation.

The new scheme was introduced by the new minister of Investment Promotion Dhammika Perera, a former business tycoon who became minister early last month. Perera’s action plan to generate forex included granting longer-term resident visas for foreign investors.