SRI LANKA INTRODUCES NEW LAND POLICY TO PROMOTE TOURISM

Sri Lanka has introduced new land policy to attract foreign investment for tourism, a minister said on Wednesday.

Lakshman Yapa Abeywardena, deputy minister for Economic Development, said the Cabinet has given nod to lease out state lands for hotel projects for foreign investors under 99 years lease agreement.

“The lands will be leased out on the prices valued by Government Chief Valuer,” Abeygwardena said.

Sri Lanka’s robust post-war tourism sector continued to grow, posting a 7.8 percent rise in July from a year earlier, according to government data.

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(Source: Ada Derana)