Govt. unveils long-term land lease for export-led businesses

Wednesday, 14 February 2024 00:28 - - {{hitsCtrl.values.hits}}

Cabinet nod to plantation reforms initiative, boost economic growth

Co-Cabinet Spokesman and Minister Bandula Gunawardena

By Charumini de Silva

The Government yesterday announced a comprehensive plantation reform initiative to utilise State-owned lands by providing them a long-term lease for investors and export-led businesses.

Spearheaded by the Non-Cabinet Minister of State Plantation Enterprise Reform, this initiative seeks to harness the untapped potential of these lands, boosting productivity and economic growth.

“The proposed program aims to lease out these lands to local entrepreneurs with the capacity to cultivate export-oriented crops, establish livestock farms for export purposes and engage in the production of other exportable goods and services,” Co-Cabinet Spokesman and Minister Bandula Gunawardena said at the post-Cabinet media briefing yesterday.

He claimed that a large extent of land managed by the Janatha Estate Development Board (JEDB) and the Sri Lanka State Plantation Corporation (SLSPC) has remained uncultivated or underutilised for extended periods due to legal complexities, institutional conflicts and inadequate capital.

“By engaging with capable investors, the Government seeks to transform these idling lands into vibrant hubs of economic activity, generating employment opportunities and strengthening socio-economic development,” he pointed out.

Land prices likely to reduce drastically: Bandula

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