Sri Lanka's RIA turning point: Can smarter regulation drive stronger growth?

The following are excerpts of an interview with United Nations Industrial Development Organisation's (UNIDO) International Regulatory Reform Expert Delia Rodrigo and and National Quality Expert Sumathy Rajasingham who are shaping the adoption of Regulatory Impact Assessment (RIA) in Sri Lanka under the aegis of the Ministry of Science and Technology and the support of the European Union.

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In this interview they share insights from their expertise to answer questions on RIA's core, its benefits, global lessons, challenges, and the path ahead.MOST people rarely think about the rules that frame their daily lives, yet every product we buy, every service we rely on, and every investment that enters the country is shaped by regulation. When rules are thoughtfully designed, they protect the public, give firms clarity, and keep competition fair. When rules are pushed through without evidence or engagement, the results can be costly, unpredictable, and difficult to enforce. Good economies do not leave this to chance but invest in the craft of making rules well.

Sri Lanka is now steering in this direction and is taking steps to improve how regulations are made. At the centre of this shift is RIA or Regulatory Impact Assessment. RIA is not a slogan or a box to be ticked, but a disciplined way to choose between the best options.

The United Nations Industrial Development Organisation's (UNIDO) International Regulatory Reform Expert Delia Rodrigo explains, "RIA is a process to improve decision making." It helps regulators assess the likely impacts of interventions by identifying the best way to address a problem through a qualitative or quantitative comparison of costs and benefits among options. That requires searching for relevant data, testing assumptions, and engaging with the people who will live with the outcome. The effect is practical and powerful: decision makers think before they act, they set out the reasons for their choice, and they invite scrutiny that ultimately strengthens the rule.