The Ceylon Chamber of Commerce has welcomed the Government’s move to introduce a legislative framework for Public–Private Partnerships (PPPs) through the Draft PPP Bill, describing it as a critical step towards attracting private investment into Sri Lanka’s infrastructure and service sectors.
The Chamber noted that in the context of constrained public finances, PPPs offer a viable pathway to drive growth, create jobs, and mobilize private capital for large-scale projects.
Among the positives in the draft legislation, the Chamber highlighted mandated value-for-money and feasibility assessments, improved transparency through stakeholder consultation and public disclosure, clearer risk allocation to the private sector, and the creation of a dedicated National PPP Agency with a defined mandate. These provisions, it said, align with international best practices and could significantly enhance private sector participation.
However, the Chamber also flagged several concerns requiring further attention. These included the need to safeguard the independence of the proposed National PPP Agency, strengthen competitive safeguards against unsolicited proposals, enhance fiscal transparency with clearer reporting obligations, and establish stronger dispute-resolution mechanisms to build investor confidence and protect public interest.
The Chamber further stressed the importance of clarifying the Bill’s legal standing to avoid overlaps with existing laws, improving disclosure standards to build public trust, aligning evaluation processes with global norms, and embedding environmental, social and governance (ESG) principles to ensure projects support sustainable development.
It also called for parliamentary oversight of appointments to the National PPP Agency, stronger conflict-of-interest rules, and more robust institutional safeguards.
Noting that it had actively contributed private sector views during consultations with the National Agency for PPPs and the Asian Development Bank, the Chamber said it hoped the draft legislation would move swiftly through the approval process.
“The establishment of a strong and independent PPP agency will be critical if Sri Lanka is to mobilize private capital on a large scale and close its infrastructure investment gap,” the Chamber emphasized, reiterating its readiness to collaborate with the Government in shaping a transparent and internationally credible PPP framework.
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