Colombo (Reuters)-Sri Lanka decided to ban the sale of land to foreigners, after local authorities found that the fact foreign investors are buying land not contribute economic benefits Sri Lanka to the State, the Government of Sri Lanka as quoted Reuters.
The decision was taken because of the economic power of the country with 59 billion dollars now extend the current hard-fought its direct foreign investment.
The country's macroeconomic conditions gradually stabilized, since it continued to end the civil war that was three decades.
"Foreigners buying land-rich and not fully animate lands. They only keep it for their personal consumption and does not contribute to the national economy, such as the rise in tourism, "said Government spokesman Keheliya Rambukwella.
Foreign direct investment (FDI) last year reached 1 billion u.s. dollars, only half of the Government's target. This Thursday, the Governor of the central bank of Sri Lanka is targeting 1.8 billion u.s. dollars FDI in 2013.
Last November President Mahindra Rajapaksa proposed Sri Lanka bans the sale of land to foreigners.
Before the sale of a hotel site in Colombo to one company China has canceled after opposition stronghold called the sales figures are too low.
November 2011 Parliament passed a LAW allowing the Srilanka Government acquires company or asset freezes and not profitable. (*)
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