The Chamber of Construction Industry, Sri Lanka (CCI) is asking the government to set up a Land Bank to accelerate development projects in the country.
CCI President Surath Wickramasinghe told the Business Times that land for development has been identified only in selected locations in the North and East and in the South and thus it is necessary to maintain a data base of available government and private sector owned lands in a land bank for the convenience of investors and developers.
In order to promote development, this information from the blueprint stage along with the specific land use should be speedily communicated to the private sector. He expressed optimism that this will impart confidence for the investors/developers to venture on their own or in public-private partnerships.
The government must be ready with its Concessionary Agreements, Shareholders Agreements and Public Private Partnership formation documentation. In addition it should embark on its responsibilities by immediately commencing the Public Infrastructure required in such development areas, he added.
Urban Re-Generation Projects should be promoted through Public / Private/Partnerships by re-housing Slums and Shanties, underserved buildings such as Warehouses, in alternative Sites within and outside the City of Colombo, and liberating Prime Land for Commercial, Residential, Tourism, Recreation, Open Space and other activities, he said.
He urged the government to be more private sector friendly and create an environment conducive to both local and foreign investors and developers to undertake urgent projects in the tourism, real estate, residential, commercial and infrastructure sectors. In order to facilitate the approval of these projects quickly, the Board of Investment should be further strengthened to co-ordinate the approval formalities with other government agencies such as the UDA, CEB, Water Board, CEA, he said.
In the development of the North and East more incentives should be given to the private sector to be proactive to attract capital not only from within Sri Lanka but also from foreign investors.The CCI believes that in order to further accelerate the development process the government should give the private sector a principal plank to promote the new economy by giving preference, support, necessary incentives and confidence to achieve the goals set by the government, he added. |
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