800 acres for huge projects in Hambantota

The Government has allocated more than 800 acres of land for several foreign and local projects in the Hambantota District. Investment Promotion Minister Lakshman Yapa Abeywardena said the projects were aimed at attracting foreign investments in industries ranging from car assembling plants to glass and sugar factories.

Mr. Yapa said that 300 acres of land would be allocated for the setting up of three foreign universities and a local university. An Information Technology park would also be included.

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(Source: Sunday Times)

Lankans of foreign citizenship can now buy land

Persons of Sri Lankan origin currently holding foreign passports are to be granted concessions to invest in the real estate sector in the country.The concessions come in terms of the scheme of payment which was hitherto extended only to Sri Lankans living overseas, but continuing to hold Sri Lankan citizenship.

The Exchange Controller has offered concessions to Sri Lankans of foreign citizenship to allow them to purchase real estate in the country in Sri Lankan rupees, to be paid out from their Non-Resident Foreign Currency (NRFC) accounts.

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(Source: Sunday Times)