Sri Lankan government allocates 42 acre land plot in Matale District for a theme park
Sri Lanka’s Cabinet of Ministers has this week approved the lease of a land owned by the country’s Land Reforms Commission (LRC) for a leisure project in the Central Province district of Matale.
The venture is by Sri Lanka’s Board of Investment (BOI) approved Fantasy Land Entertainment Ltd., which, according to the Sri Lankan government, has planned to implement a tourist project inclusive of educational and recreation events targeting local and foreign tourists.
According to the government, the proposed project had received the consent of the BOI and the company had requested to obtain a portion of 42 acres, 01 rood and 1.5 perches from the land called Rathwatte belonging to the Land Reforms Commission situated in the Ukuwela Divisional Secretariat in the Matale District on a 30-year lease basis for the purpose.
The proposal was presented to the Cabinet of Ministers by Sri Lanka’s Lands Minister.
OSL take:
Sri Lanka is currently engaged in an aggressive development programme aimed at taking the country to the next level of development. The country is also fast becoming a business hub in the South Asian region given its geographical positioning in the Indian ocean and the many trade agreements as well as trade concessions enjoyed by Sri Lanka. The government of Sri Lanka has taken many steps to develop the ease of doing business environment in the country and to make it more business conducive. Foreign businesses/investors could therefore explore business/investment opportunities in Sri Lanka’s development programme.
| Article Code : | VBS/AT/20210728/Z_3 |