The Sri Lankan Cabinet of Ministers has approved the establishment of a Land Management Trust to address longstanding challenges in utilizing government-owned land for economic development. This initiative aims to streamline the process, attract investments, and unlock new opportunities for job creation.
Currently, the Sri Lankan government holds a significant portion of the country’s land, roughly 82%. However, the management of these lands is fragmented across various agencies, leading to an inconsistent and often bureaucratic process for releasing land for investment purposes. This has acted as a barrier, hindering the creation of new industries, services, and much-needed employment opportunities.
The newly established Land Management Trust aims to overcome these obstacles by creating a centralized body responsible for overseeing the identification and release of suitable government-owned land for potential investors. As highlighted by Cabinet Co-Spokesman Bandula Gunawardena, the Trust will act as a “centralized body” facilitating a more efficient and transparent land release process.
The proposed framework positions the Secretary to the President as the Chairperson of the Land Management Trust, ensuring high-level oversight and facilitating effective decision-making. The Trust will be tasked with evaluating and recommending the release of government-owned land, including those under the purview of statutory institutions, to potential investors.
This initiative, championed by President Ranil Wickremesinghe, represents a significant step towards attracting vital investments, fostering economic growth, and generating new employment opportunities in Sri Lanka. By streamlining the utilization of government-owned land, the Land Management Trust has the potential to unlock significant economic potential and contribute to the nation’s development goals.