Cabinet clears draft for new Public-Private Partnership Unit with legal framework

Wednesday, 4 June 2025 01:06 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers at their meeting on Monday approved in principle to draft legislation to establish a new Public-Private Partnership (PPP) unit under a formal legal mechanism, replacing the current National Agency for PPP.

Addressing the weekly post-Cabinet meeting media briefing yesterday, Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said the proposed unit will be temporarily headed by the Senior Additional Secretary to the President (Finance and Economic Affairs) and will operate under the Finance, Planning and Economic Development Ministry till a permanent institutional structure is established.

Dr. Jayatissa said the move aligns with a key policy announcement made by President Anura Kumara Disanayake during the 2025 Budget, where he highlighted the need to strengthen the legal and institutional framework for PPPs to attract and facilitate both local and foreign investment.

“We will introduce a new Act to support PPPs with the goal of enhancing investment promotion and economic competitiveness,” he added.

He reiterated that the Government’s long-term vision is to establish a permanent, independent PPP authority which can act as a central facilitator for public-private investment ventures.

Acknowledging that there are already institutions such as Board of Investment (BOI) to facilitate investments, Dr. Jayatissa said sometimes private organisations also get involved in securing investments. “There is a notable increase in investment inquiries at present and therefore having a permanent facilitator is considered apt in going forward,” he added.

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