COLOMBO : – The Sri Lanka Tourism Development Authority (SLTDA) successfully organized an event focused on facilitating investments in the tourism industry. The event which was attended by the Minister of Tourism Hon. Vijitha Herath as well as the Deputy Minister of Tourism Prof. Ruwan Ranasinghe, also brought together Heads of key government ministries and agencies to discuss the importance of collaboration in streamlining the approval process for investors.
The primary objective of the event was to highlight the government’s role in directing and facilitating private sector investments in Sri Lanka’s tourism sector. Government officials from various authorities actively participated, addressing key areas essential for economic and employment growth. The discussions emphasized the crucial need to focus on enhancing the ease of doing business in Sri Lanka to increase the country’s attractiveness to global tourism investors, thereby improving investor experiences and boosting tourism sector growth through foreign direct investments (FDIs).
The Hon. Minister of Tourism Minister in his speech stated “Collaboration is key to unlocking Sri Lanka’s tourism potential. By streamlining investment processes, we can drive growth, create jobs, and strengthen our position as a world-class destination”, while the Hon. Deputy Minister of Tourism said “A thriving tourism sector requires strong partnerships. Together, we can create an investor-friendly environment that benefits our economy and showcases Sri Lanka’s unique charm to the world”. The SLTDA Chairman explained the objectives of the event, while during the open forum discussion, speakers from other key agencies underscored the importance of reducing costs and delays in the approval processes, which would ultimately encourage investors to focus on project development and job creation.
By fostering greater cooperation among government agencies, the event was aimed to position Sri Lanka as an investor friendly, more attractive and an efficient destination for tourism investors. To support this cause, the SLTDA had already developed a Land Bank Management Information System (LBMIS) as a pioneering initiative for identifying, cataloging, and managing land resources to promote tourism investments for economic development. The LBMIS serves as a continuously updated centralized repository of lands suitable for tourism-related projects, which currently holds comprehensive details of SLTDA-owned lands, 163 other state-owned lands and 19 private lands available for investors.
The event concluded on a successful note, with participants reaffirming their commitment for facilitating investment opportunities and strengthening the tourism industry’s contribution to the nation’s economic development. The SLTDA through its Investor Relations Unit (IRU) continues to play a pivotal role in ensuring that Sri Lanka remains a premier investment destination for the tourism sector, where since 2010 to date, the IRU had facilitated 1,206 tourism investment projects with a total cumulative investment value of US $ 8.7 Billion covering 49,699 rooms.
