Investors concerned over objections to casinos in Sri Lanka: minister

May 02, 2014 (LBO) – Investors have expressed concern over objections to large resorts which were given tax breaks under a strategic investment law to which casinos have been dragged in, Sri Lanka’s deputy investment promotions minister said. Minister Mustapha said the opposition had claimed that the three tax proposals passed in parliament were for casinos, but in fact his ministry had no power to either approve or disapprove of casinos.

The government however refused to incorporate a clause specifically dis-allowing casinos in the resorts saying it was not possible under the investment law.

With casinos being dragged in to the issue on the basis of supposed ‘intentions’ of the investors, which was a concern to them, he said.

“When investors come into the country and have sought permission under the strategic investment act for certain concessions the parliament gives those concessions.

“And when certain issue are raised which have nothing to do with their project, right, and you are going to the intentions of the investor…your problem is this, No? Today the debate is on intentions. Not on law, not on facts.”

“When you try to …blur the investors’ minds by raising issues that were not brought up by him, or is no