• Sri Lanka Tourism Development Authority (SLTDA) signs MoUs with 8 Government Agencies to accelerate the process of approval of the tourism investments.
• Tourism investment of US $ 1013.67 million in Sri Lanka during the last 2 years amidst Covid pandemic.
• US $ 300 million investment approved.
• Measures to approve the remaining investment projects expeditiously.

Minister of Tourism, Prasanna Ranatunga says that Sri Lanka has received US $ 1013.67 million in tourism investments during the last two years in the face of Covid pandemic. The number of tourism investments received during those two years was 99. The Minister pointed out that out of those investments, about US $ 300 million was approved, granting approvals to 59 such investment projects.

He shared these views at the signing of MoUs with eight government agencies for accelerating tourism investment facilitation this morning (26).

Sri Lanka Tourism Development Authority entered into MoUs with the Central Environmental Authority, the Department of Wildlife Conservation, the Department of Forest Conservation, the Department of Archeology, the Department of Irrigation, the Department of Agrarian Development, the Department of Fisheries and Aquatic Resources, and the National Building Research Organization to accelerate tourism investment facilitation. Under this program, SLTDA has already signed agreements with the Board of Investment, Department of Coast Conservation and Coastal Resource Management. SLTDA will enter into MoUs with the Merchant Shipping Secretariat, the Civil Aviation Authority and the Colombo Municipal Council in the near future. In addition, discussions are underway to sign relevant agreements with the Ceylon Electricity Board and the National Water Supply and Drainage Board.

Minister said that Sri Lanka Tourism Development Authority has also introduced a new unit called the Investment Relations Unit to accelerate tourism investment facilitation. A common application has also been prepared to contain the information required by the 15 government agencies in approving such investments. Accordingly, the government has taken steps to minimize delays in approving tourism investments. An automated tourism investment project management system is currently being developed. It is expected to launch this in May. Training programs have also been planned at the local level in this regard. The Minister said that local investors will be made aware of the enhanced process and a marketing campaign aimed at increasing tourism investment will be launched in the future.

Minister of Tourism, Prasanna Ranatunga further stated that 1006 tourism investments were received from October 2010 to December 2021. Its value is US $ 7571.38 million. But only 457 tourism investments were approved during the said period. An investment of US $ 3848.21 million has been approved. The Minster further stated that this confirms the delay in the approval process for tourism investment and that the government is doing its utmost efforts to end it.

Secretary to the Ministry of Tourism, Mr. S. Hettiarachchi stated that a formal investment approval process will reduce process, time frame, cost and required documentation. He added that modern technology is being used for this. Tourism is the third highest foreign exchange earner of the country. Therefore, the government has realized the need to increase tourism investment to strengthen the country's economy and will implement short, medium and long term programs for this purpose, he said.

Director General of the Tourism Development Authority, Mrs. Dhammika Wijesinghe said that this project is a program that will change the future of the tourism industry. She pointed out that at a time when the tourism industry is recovering after the Covid pandemic, tourism investment should also be increased. In the process of approving tourism investment, 43 Government Agencies, Local Government Bodies and Divisional Secretariats are involved and each project has to be approved by 15-20 agencies.

Dr. Anil Jasinghe, Secretary to the Ministry of Environment also addressed the gathering.

Chairman of the Central Environmental Authority Mr. S. Amarasinghe, Board Member Prof. AG Amarasinghe, Director General of Wildlife Conservation,Mr. Chandana Sooriyabandara, Director General of Forest Conservation, Dr. K.M.A. Bandara, Director General of the National Building Research Institute, Dr. Asiri Karunawardena, Director General of the Irrigation Department,Mr. K.D.N. Siriwardena, Additional Director General of the Department of Agrarian Development, Mr. Palitha Nanayakkara, Director General of the Tourism Development Authority, Mrs. Dhammika Wijesinghe signed the relevant MoUs.