A Japanese Investor has shown interest in developing the floating market in Pettah as a tourist hotspot, Minister of Urban Development and Housing Prasanna Ranatunga said.
According to Daily News, Minister Ranatunga said that the floating market in Pettah will be developed targeting foreign investments to Sri Lanka.
He further said that the measure was taken following recent concerns raised over the management by the Urban Development Authority (UDA) of the floating market.
Minister Ranatunga said, therefore, steps were taken to advise the UDA to develop the floating market under a public-private partnership.
Pointing out that the government was unable to fund the project due to the economic crisis, the minister said the UDA had invited potential investors for the project, during which a Japanese investor had expressed interest.
Minister Ranatunga added that it is expected to develop the floating market in Pettah as a Japanese city cum floating market. (NewsWire)