New policy on foreigners and land issue?

Finance Minister Ravi Karunanayake last week assured the Government would be flexible on foreigners and land ownership subject to pre-determined purposes of investment.

“Don’t worry about the land problem that has been there; it is something we have inherited. The new Government will provide necessary incentives for proper investments to come in. 

We will have the necessary requirement for you all to get in the investments on safe mode,” Minister Karunanayake said during his speech at the SAARC Investment Forum held in Colombo last week.

“If it is investment-oriented, you will have that benefit but not mere acquisition of land. That’s the way we intend to develop our tourism industry,” the Minister added.