New reforms to unlock investment

Friday, 5 September 2025 00:36 - - {{hitsCtrl.values.hits}}

Senior Economic Adviser to the President Duminda Hulangamuwa says State-Owned Enterprises Bill will be tabled this month
PPP Act with $ 1.5 b Port City investment takes shape to facilitate greater private participation in critical sectors such as ports, logistics, agriculture and related industries

Senior Economic Adviser to the President Duminda Hulangamuwa last week revealed that sweeping reforms in State-Owned Enterprises (SOEs) and public-private partnerships (PPPs) are in the pipeline as part of the Government’s broader economic restructuring.

“A State-Owned Enterprises Bill will be tabled this month, introducing a holding company model for selected SOEs, structured along the lines of Singapore’s Temasek and Malaysia’s Khazanah,” he said delivering keynote address at the 171st Annual General Meeting of the Planters’ Association of Ceylon last Friday.

In parallel, a new PPP Act is being readied to facilitate greater private participation in critical sectors such as ports, logistics, agriculture and related industries.

As part of this agenda, several State assets are being readied for market entry, including the Bogambara complex, the Sapugaskanda oil refinery, prime properties in Colombo, as well as State-owned dairy farms and coconut estates.

Hulangamuwa also confirmed that Port City Colombo has already attracted four investments amounting to approximately $ 1.5 billion, backed by new legislation and incentive frameworks.