ECONOMYNEXT – Sri Lanka will provide 50,000 acres of land for industries in a country where land allocation for is far below international norms, Secretary to the Ministry of Industries Thilaka Jayasundara said.
“We have only 0.4 percent of land allocated for industry,” Jayasundera told an economic forum organized by Sri Lanka’s Ceylon Chamber of Commerce.
“Actually, the international norm is around 3 percent.”
By 2030 Sri Lanka wanted to increase land allocated for industry up to 1 percent, she said.
“For allocating the lands, we identified 50,000 acres for allocating industries, and we identified these lands with the support of all the government institutions, which are responsible for the allocation for the industries,” she said.
“I feel, as the Secretary-Minister of Industry, we can fix this land for the investment, and within 22 working days, not working days, 22 days, within 22 days, we can allocate the land for the specific industries.”
“Within another 62 days, we can give the long-term lease agreement to the investors to start their businesses.”
Private investors say getting land for industries, including private land is next to impossible in Sri Lanka.
Though free hold developed gradually in Sri Lanka under colonial rule, large tracts free hold land was expropriated to the state after independence and private ownership was limited to 50 acres.
Most lands are also fixed for agriculture by several lands by several laws, mostly for agriculture.
Industrialists who have succeeded in setting up factories outside Board of Investment zones, privately describe nightmare scenarios of getting approval, according to analysts.
Sometime gazettes and parliament approval is required, which is beyond the ability of independent entrepreneurs to do. (Colombo/Feb03/2025)
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