Sri Lanka, March 28 -- Urban Development and Housing Minister Prasanna Ranatunga said yesterday that the floating market in Pettah will be developed as a major tourist hotspot targeting more foreign investments to the country. Various accusations were made against the Urban Development Authority over the past period that this floating market is not properly managed.

Minister Ranatunga having paid attention to this, advised the Urban Development Authority to work on developing this market under public-private partnership as it is difficult to develop this with the state funds due to the current economic problems of the country.

Then, the Urban Development Authority invited potential investors to invest in this. Accordingly, a Japanese in...