Qatar Holdings, the investment arm of the state-owned Qatar Investment Authority, is interested in various development projects ranging from a stake in the Colombo Stock Exchange (CSE), the Kalpitiya Tourism Zone (KTZ), the Colombo Commercial Property (CCP), and a host of sites in the South for hotel projects, according to official sources.

The new Tourism Act is likely to witness a change in focus and the private sector losing its clout in the booming industry’s growth. An industry source told the Business Times that under the Tourism Act of 2005 the industry had requested for certain elements to be given greater attention – in particular the percentage of funds given for promotion, a specialized board with a separate Chief Executive Officer (CEO), backed by a strategic plan and run independently.