The Ministry of Industry and Entrepreneurship Development announced a plan to allocate 50,000 acres of land across Sri Lanka for industrial use. 

This was revealed during a recent meeting of the Sectoral Oversight Committee on Economic Development and International Relations.

The Ministry's Secretary highlighted that the current process for land allocation to investors is lengthy, often taking more than four years.

He noted that while the international standard is to allocate 3% of a country's land for industries, Sri Lanka currently allocates only 0.01%.

The committee has recommended a report be submitted on a future plan for land allocation, which will be drafted in consultation with the Land Reforms Commission, Urban Development Authority (UDA), and the Sri Lanka Export Development Board.