Ceylon Chamber urges investor-friendly reforms in draft PPP Bill

The Ceylon Chamber of Commerce (CCC) yesterday urged the government to strengthen the draft Public-Private Partnership (PPP) Bill to make it more investor-friendly, while welcoming the government’s effort to establish a framework for private sector participation in infrastructure and services.

The CCC said the bill contains several positive features such as mandated value-for-money and feasibility assessments, stronger transparency requirements through consultation and disclosure, clearer risk allocation to the private sector and establishment of a dedicated National PPP Agency. 

These measures, it noted, align with international best practices and can improve the environment for investment.

At the same time, the CCC highlighted concerns, including the need to ensure the independence of the proposed PPP Agency, introduce stronger safeguards around unsolicited proposals, enhance fiscal transparency through clearer reporting and strengthen dispute resolution mechanisms. 

It also called for clarity on the bill’s legal standing to avoid overlaps with the existing laws, more robust disclosure requirements to build public trust and embedding of environmental, social and governance standards.

“The CCC commends the government’s effort to introduce a legislative framework for PPPs through the draft PPP Bill, which is a requisite precursor to enhancing Sri Lanka’s ability to attract private investment in infrastructure and service delivery. 

Amidst a tight fiscal environment for the government, we believe PPPs will be conducive for driving projects that will enhance growth, create jobs and bring in private capital,” the CCC said.

It added that safeguarding the independence of the National PPP Agency, ensuring qualified appointments with parliamentary oversight and introducing stronger conflict-of-interest provisions would be critical. 

The CCC said it hopes the draft legislation would move forward and result in “a strong and independent National Agency for PPPs”, pledging to work with the government to support implementation of a credible, internationally aligned framework capable of mobilising private capital at scale.