Sri Lanka to lease plantation land to returnee migrant workers

Sri Lanka
By Editor_1
-english.cnl.lk

COLOMBO – Sri Lanka has decided to grant long-term leases on 247 hectares of underutilized state plantation land to returnee migrant workers and young entrepreneurs who remit foreign exchange to the country, Minister Nalinda Jayatissa said.

The land plots belong to three state-owned plantation entities.

The government will dispose of 117 hectares from the Sri Lanka State Plantations Corporation, 88 hectares from the Janatha Estates Development Board, and 42 hectares from Elkaduwa Plantations Limited.

The initiative, which will see allocations of 1 to 4 hectares of land per selected investor, aims to channel foreign earnings into economic activities, Jayatissa said, adding that the maximum age for applicants is capped at 50 years.

“Approval was granted to formulate a suitable program to grant plots of underutilized land on a long-term lease basis, enabling young entrepreneurs who have remitted foreign exchange to invest in the plantation sector,” Jayatissa said.

Priority will be given to individuals who have worked abroad for three years or more within the past 10 years, or those currently employed overseas for over three years.

Eligible sectors for investment include agriculture, plantation tourism, livestock, hydroelectricity, solar power, factory manufacturing, freshwater fisheries, and economic innovations.

Jayatissa said the drive targets small-scale investors rather than large-scale private takeovers.

“The actual necessity here is to create an opportunity for Sri Lankans who went abroad, worked, and sent remittances to properly invest their money back in Sri Lanka under a structured system,” Jayatissa said.

He added that individual allocations remain strictly controlled between 1 to 4 hectares to prevent lands from being handed over without limits, ensuring returning workers from regions like Korea, the Middle East, and Europe can directly contribute to local economic growth.

-economynext.com

Editor_1
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