Land Bill is a concern, needs flexibility – US Trade Rep
View(s):Sri Lanka’s proposed new Land Bill shouldn’t be ‘one size fits only’ and should accommodate unique situations, according to a top US trade delegate.
“We have a few concerns on the new Land Bill. It is a ‘one size fits all’ Bill at present. It should have (provisions) to fit individual situations that merit flexibility,” Michael J. Delaney Assistant US Trade Representative for Central and South Asia told the Business Times on the sidelines of Sri Lanka – USA Business Forum on Thursday.
“We don’t object to the proposed Land Bill, but a strong case can be made for having some flexibility in the law.” The visiting US trade envoy made similar comments at a news conference at the USIS office, Colombo soon after the business forum.
“(There is) A lot of concern about the land laws and this is not limited to American investors alone. In fact some of the stronger objections I heard were from Sri Lankan businessmen,” he told reporters when asked for his views on the controversial bill, which limits foreign land ownership to less than 50 per cent, and has drawn concerns from the local business community.