Sri Lanka Investment Guide 2019

Comments

Post a Comment

Popular posts from this blog

Sri Lanka ease of doing business ranking rises one spot to 99th

Image
Sri Lanka ease of doing business ranking rises one spot to 99th Thursday October 24, 2019 18:15:23     ECONOMYNEXT- Sri Lanka has risen one place to 99th in the World Bank’s Doing Business 2020 rankings without economic reforms, while neighbouring India and Pakistan rose through the ranks rapidly. The report said Sri Lanka’s ease of doing business score remained flat at 61.8 points out of a possible 100, with marginal gains in starting a business, dealing with construction permits and getting electricity. Starting a business was rated high in Sri Lanka with a score of 88.2. Registering a property, enforcing contracts, access to credit and winding up a business ranked poorly. The report listed no reforms for Sri Lanka in 2019. Sri Lanka  had set up eight task forces in 2016 to rise to the top 70 countries by 2020  through widespread reforms, which had not acted in time for the 2020 edition. India was the highest ranked South Asian nation at 63rd place with a score of ...
Read more

5-star hotel to be built in Kandy under BOI agreement

Image
3D image of the hotel project Oct 09, 2019 (LBO) – The Board of Investment of Sri Lanka signed an agreement with Star Class Hotel (Pvt) Ltd., to set up 67 room 5-star hotel which will be located at Mavilamada Road, Kandy. The Agreement was signed by Mangala Yapa, Chairman of the Board of Investment of Sri Lanka and Mohamed Nazar Mahamed Rizan, Managing Director of the Company. This new project in Kandy will create 61 new employment opportunities and represents an investment of 5.2 million US dollars. Mohamed Nazar Mohamed Rizan provided further information on his project and its importance to the tourism industry. “This is a project for a 5-Star hotel in Kandy, which is my hometown and a very beautiful city. As tourism in Kandy has developed considerably, we will need more hotel rooms,” Rizan said. “Our project is for a 67 room, a 5-star hotel which will take 1½ years to complete. However, we are looking at expanding the project by building at a later stage an additional...
Read more

Opinion: Are apartment developers moving to suburbs?

Image
Opinion: Are apartment developers moving to suburbs? LankaPropertyWeb’s (LPW) With  Colombo city  turning into a business hub more than a residential area, recent studies of LankaPropertyWeb (LPW) show that apartment developers are now exploring the suburbs to cater to the growing interest for vertical living amongst the locals. The numerous developments taking place in the main city resulting in diminishing space amongst  houses for rent in Colombo  and reducing demand for  houses for sale in Colombo  has in fact contributed to this interest largely. The rising population in the country and the changing lifestyles of people has also further influenced the number of  apartments for rent  and condominium construction taking place in the city. However, over the years such constructions taking place within the inner city of Colombo (i.e. Colombo 1-15), has continued to decrease in number. Condominium projects from 2014 – 201...
Read more