India and Sri Lanka strengthen partnership to advance PPPs for sustainable development

CCC Vice Chairman Bingumal Thewarathanthri says it is timely for SL to relook at PPP opportunities seriously as developed countries' capital gradually flowing back into emerging markets Indian High Commissioner Santhosh Jha opines India and SL could jointly pioneer modern PPP frameworks that serve as templates for Global South NAPPP CEO Dr. Sulakshana Jayawardena discloses 67 projects already identified as potential PPPs across sectors like transport, water, and energy

- BY CHARUMINI DE SILVA

THE High Commission of India, in collaboration with the Ceylon Chamber of Commerce (CCC), yesterday hosted a high-level forum in Colombo titled "PPP: Partnership and Prosperity for People", bringing together Government officials, policymakers, private sector leaders and development partners to discuss pathways for unlocking Sri Lanka's Public-Private Partnership (PPP) potential.

The event comes as the Government finalises long-awaited PPP legislation aimed at driving investment across key sectors such as ports, aviation, energy, and education.

Opening the discussion, CCC Vice Chairman Bingumal Thewarathanthri said the Chamber has long championed the PPP concept as a mechanism to bridge Sri Lanka's investment gaps and stimulate growth through joint public and private sector participation.

"The Chamber has been working on PPPs for years, but these conversations have largely been confined to budget discussions. Not that we never had PPPs; we've had great examples in the past such as the South Asia Gateway Terminals (SAGT), Port of Colombo, but the time has come to relook at this opportunity seriously," he said.

He observed that Sri Lanka is entering a crucial phase where stabilised reserves, declining global interest rates, and improved fiscal discipline provide a conducive environment for renewed investor confidence. "With the US interest rates coming down, global capital is gradually flowing back into emerging markets. This is an opportunity for Sri Lanka to position itself strategically to attract investment," Thewarathanthri opined.

He stressed that while the country has achieved a measure of economic stability, there is a pressing need to expand development momentum through credible partnerships. "There is space for development and expansion, and that's where PPPs can play a transformative role," he noted.