Sri Lanka says over 2,500 acres of land available for investors in tourism sector
Sri Lanka’s State Minister of Tourism Promotion Arundika Fernando has reportedly said that the country’s Tourism Ministry has over 2,500 acres of land with clear title available for both local and foreign investors.
Fernando has been quoted as saying in the local media that these lands can be immediately dispersed for investors on a 30 year lease agreement by the Ministry approval. “However if an investor needs the land for a longer period of lease we can arrange Cabinet approval for it. A proper project proposal should be present when requesting for land and eco-friendly and environmental and practices should be maintained.”
According to reports, these lands are available at Kalpitiya, Dedduwa and Kuchchaveli integrated Tourism Zones and more lands are available at different locations.
According to Fernando, assistance of provincial Governors would also be used to ensure speedy disposal of lands to investors.
The Minister has stated that a five year tourism development plan approved by Sri Lanka’s President Gotabaya Rajapaksa is in place to woo 7 million tourists and US$ 10 million revenue. “We are working towards these targets.”
He has further noted that plan to redevelop domestic airports would continue and priority would be given to commence domestic scheduled flights linking Mattala Jaffna and Batticaloa. “Special tax incentives would be provided for investors and tax on facers and fuel too would be reduced.”
He has added that both the Colombo airport and Colombo Fort Railway station would offer more facilities for tourist.
“We are currently working with the Sri Lanka Railway to introduce an App so that tourists can book online and avoid long queues at the Fort Railway station when purchasing tickets,” Fernando has said.
OSL take:
Sri Lanka’s tourism industry is a fast growing economic sector in the country. Sri Lanka has also been listed as a must visit destination by many globally renowned travel publications resulting in a steady growth of tourists to the island. All this have resulted in the expansion of business/investment opportunities in Sri Lanka’s tourism industry. The government of Sri Lanka has also earmarked several large scale projects in the industry. Foreign businesses/investors could therefore confidently explore business opportunities in Sri Lanka’s tourism industry.
| Article Code : | VBS/AT/20200116/Z_3 |