After a 30 year conflict in the country, Sri Lanka is all set to promote its earlier war prone eastern province for tourism. Both the interiors as well as the coast were inaccessible to the tourists all these years.
“Eastern is a virgin territory, it?s a fantastic area with beach fronts where joint ventures or investments can work,” said Prasad Kariyawasam, a senior diplomat for the country. He also added that there is a tremendous confidence amongst the investors in promoting Sri Lanka as a destination.
“We have a board of investment, which is one stop shop for this kind of needs,” he further commented. There are massive tax holidays offered by the government coupled with incentives like 100 per cent foreign ownership and 100 per cent profit repatriation is allowed.
“Considering manpower shortage in the country, even foreign labors are allowed in this sector?, he added. The Shangri-La Chain has just gone into Sri Lanka. They paid upfront in convertible currency for the land that they purchased in the heart of Colombo.