Beach Resort at Kuchchaveli

Beach Resort at Kuchchaveli

Sector

Tourism and Leisure

Geographical Location

Eastern Province, Trincomalee District (300 Km North East of Colombo)

Project Description

Kuchchaveli Tourism Development Project with 40 Beach Resorts will provide a wide range of land and water based tourist/recreational activities. The private sector is expected to develop Kuchchaveli with 3,000 to 5,000 rooms. The Kuchchaveli resort planned as a ‘Green Integrated Resort’ is focusing on sustainable development.

Fringe benefits and incentives offered by the government

• Developer shall qualify for attractive concessions from the Board of Investment of Sri Lanka (BOI)
• Service providers will be given preference to the incentive programs and schemes offered by the SLTDA and other government agencies
• Service providers applying for loans and grants will be given all available assistance to obtain funds.
• Service providers will have priority access to the Tourism Crisis Management Fund, which aids disaster-affected tourist establishments during a crisis period.

Project Size

US $ 50.0 Million for each Plot of 10 Acres , 510 acres and one plot is (Minimum 10 acres per investor)

Major economic and social benefits

The tourism industry will become one of the main earing sector by 2017, the benefits will come primarily in the form of employment, and providing thousands of jobs in direct and indirect employment, as well as the living standard would be improved. The project will also increase the income for tourism related support businesses such as small traders, handicrafts artisans, tour guides, fishermen and fruit and vegetable growers and retailers.

Other Stakeholder

A broad range of stakeholders from public and private sector will be interested in this sector, Other Stakeholders include Asian Development Bank (ADB) and Japan Bank for International Development (JBIC) that provide financial and technical assistance for the promotion of the tourism sector.

Concessions and benefits offered by government

The Sri Lankan Government has started the policy framework to support for investors and industry for the promotion of tourism sector
• The restoration of a simple tax regime
• Simplification of licensing procedures
• Reduction of high electricity tariffs
• Unification of regulatory environment and creating a single authority for tourism promotion
• Creating opportunities to promote tourisms

Current Status

Available. Sourcing capable investors’ and developers with similar experience

Share this:
OPPORTUNITY CODE : VBS/OP/14082017/X_2

For More Info and Help






Leave a Comment