Voice of America: Sri Lanka Bans Land Sales to Foreigners

Voice of America Voice of America is an international news and broadcast organization serving Central and Eastern Europe, the Caucasus, Central Asia, Russia, the Middle East and Balkan countries

Sri Lanka Bans Land Sales to Foreigners Feb 21st 2013, 19:02 Sri Lanka has decided to ban land sales to foreigners after finding that some offshore investors did not use land and property purchases to benefit the nation's economy, the government spokesman said on Thursday.   The decision comes as its $59 billion economy struggles to boost foreign direct investment (FDI) despite gradually stabilizing macroeconomic economic conditions since the end of a three-decade war.   ​​The Cabinet has decided to prohibit foreigners from purchasing ... Media files: 183DA311-687D-418C-9254-46F6E77B079F_cx0_cy6_cw0_w800_r1.jpg?nocache=1 (image/jpeg, 0 MB)

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