Monday, 21 December 2015

Clear land and condo laws needed to attract foreign investment, CB Governor says

Ambiguous laws relating to ownership of land and condominium property rights in Sri Lanka can thwart foreign investment flowing into the country. Central Bank Governor Arjuna Mahendran said that land and condominium ownership in Sri Lanka is an issue that has to be addressed as legislation in this regard in recent times has regrettably become slightly muddied and unclear and this needs urgent repair for which the new government has made plans . He was speaking at the International Mayors forum held in Colombo last week under the theme of “Future Cities” as part of the 150 anniversary celebrations of the Colombo Municipal Council.


(Source: Sunday Times)

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