Sri Lanka to repurpose idle government buildings
The Morning: Sri Lanka’s cabinet has approved a programme to repurpose nearly 3,000 government-owned buildings that remain abandoned, underused, or incomplete, the Department of Government Information said on recently.
The move aimed to improve efficiency and reduce waste in the public sector by putting these buildings into productive use.
OSL take:
Sri Lanka’s ongoing economic activities and the development programme that is being carried out simultaneously have presented many business opportunities. The Sri Lankan government’s efforts to minimize public expenditure and increase revenue sources have resulted in repurposing idle government buildings to be better utilized as well as open up opportunities for public, private partnerships (PPPs). With Sri Lanka on the path to becoming a hub in the South Asian region supported by its geographical positioning in the Indian Ocean and the strong trade ties enjoyed with many foreign countries as well as many more incentives as an emerging business destination, the country stands as an ideal destination for foreign businesses/investors to explore business/investment opportunities. Given the availability of idling state-owned buildings for business ventures as the country shows an increasing business potential, foreign businesses/investors could take up the emerging opportunities in Sri Lanka’s public sector reforms as well as development programmes. Foreign businesses could also look at engaging in the emerging business opportunities in Sri Lanka through local collaborations and PPPs.
| Article Code : | VBS/AT/20251111/Z_2 |