Land Mangement Trust to allocate land for investors

Cabinet approval has been granted to establish a Land Management Trust for allocation of lands owned by the government and affiliated institutions to investors, Cabinet Spokesman Mass Media Minister Dr.Bandula Gunawardhana.

Speaking at the weekly Cabinet media briefing held at the Government Information Department, Minister Gunawardhana said the government owns about 82 percent of the total land area in the country and a number of government agencies are responsible for protecting and controlling these lands.

He said that various issues have arisen in the release of government land for investment activities due to the fact that these institutions have not adopted a unified approach regarding these lands. Therefore, in order to encourage investment opportunities that can create new industries and services and create new job opportunities, it is essential to establish a mechanism with proper authority from the time of identifying land with suitable potential to the formal release of land to investors following a transparent system.

Accordingly, the Cabinet of Ministers has granted its consent to the proposal by President Ranil Wickremesinghe to establish the Land Management Trust under the Chairmanship of the Secretary to the President to make appropriate recommendations regarding the release of land owned by the government and statutory institutions to investors.

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