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* Concerns over releasing land for investments discussed at PSC meeting
Wed, Feb 8, 2023, 08:24 pm SL Time, ColomboPage News Desk, Sri Lanka.

Feb 08, Colombo: Concerns pertaining to releasing land expeditiously to suit the needs of investors when starting investments in Sri Lanka was looked into at the Select Committee of Parliament to study the practical problems and difficulties that have arisen in relation to enhancing the rank in the Ease of Doing Business Index in Sri Lanka and make its proposals and recommendations.

This was taken into discussion at length during the committee's recent meeting held (06) under the chairmanship of Madhura Withanage, Member of Parliament.

Officials representing the Ministry of Tourism and Lands, Land Reforms Commission, Industrial Development Board, Export Development Board and Economic Affairs Division - Ministry of Foreign Affairs were present at the Committee meeting held.

The Committee chair was of the view that the complicated system in land release in this country is a serious issue as it takes a long time and the investors are inconvenienced. That is why it is impossible to prevent those investments from being attracted to other countries in the region that have facilitated such project opportunities the chairman further said.

The issue pertaining to the existence of a number of institutions under several ordinances regarding the land ownership and their legal affairs in the country belonging to the government and such institutions not having any interrelationship between each other was also taken into discussion. Due to this, the committee emphasized that the classification of land should be done not according to the institutions that control the land, but in a classification related to each area suitable for investment.

Furthermore, attention was drawn to the problem of not having completed the correct data about land in this country. The committee was of the opinion that a system should be prepared to free the land suitable for investments in a very short period of time by bringing the correct data to one platform through modern digital technology.

Furthermore, the members of the committee pointed out the need for the officials of the relevant institutions to work efficiently, paying special attention to the provision of land required for investment even within the existing legal provisions.

Also, the Industrial Development Board explained in detail to the committee the methodology used to increase the business facilitation index in Sri Lanka.

State Minister A. Aravindh Kumar, Members of Parliament Sanjeeva Edirimanna, Lalith Varna Kumara were also present at the Committee meeting held.


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