The Hon. Sunil Handunnetti - Minister of Industry and Entrepreneurship Development

¶ 01 Hon. Presiding Member, we are debating regulations under the Colombo Port City Economic Commission Act. When the Act established Port City as a Special Economic Zone, it set out regulation, investment facilitation, national sustainability, job creation, and growth. We opposed certain elements then, but from its passage up to December 2024, only three investments were actually attracted—and one of those stalled. Under President Anura Dissanayake’s Government, those three are now moving, and construction began in January 2025. Agreements on the remaining two are in place. Additionally, over 150 new businesses have registered. By 2026, we target 6.3 million square metres with about USD 14 billion in FDI. Investors need predictability, credibility, and due process.

¶ 02 Order, please! The Hon. Deputy Speaker will now take the Chair.

¶ 03 Whereupon THE HON. M.K.M. ASLAM left the Chair and DEPUTY SPEAKER [THE HON. (DR.) RIZVIE SALIH] took the Chair.

¶ 04 Hon. Deputy Speaker, investors asked: why so few came after the Act passed? The reason was not our opposition but corruption and commissions under the previous administrations—both family and coalition rule. Investors were pushed to invest in Dubai, Singapore, Malaysia, Indonesia, fearing our domestic processes and “Mr. Ten Percent” culture. Today, without those gatekeepers, and with political stability and clean processes, investors are returning. We have registrations for international hospitals, universities, schools, mixed-use and apartment projects.

¶ 05 We are ensuring neutral, rules-based regulation for Port City—no favouritism—so anyone can invest on equal terms. Beyond Port City, we gazetted reforms for sectoral business regulation in August 2025; by January 2026 we signed USD 250 million worth of project agreements. From the State share in Port City land, we have allocated one million square feet for residential and commercial; by January 2026, apartments and commercial projects totalling USD 250 million were in the pipeline. Previously suspended projects have restarted.

¶ 06 The President chairs a high-level economic management committee with the Foreign, Trade, and Finance leadership, myself as Industry Minister, and the Port City Commission Chairman. This enables swift Cabinet and then Parliamentary approval.

¶ 07 Hon. Faiszer Musthapha highlighted delays. We accept that; hence we have set a six-week window for clearances via the high-level committee. Historically, an investor had to obtain approvals from over 21 agencies taking about 179 days. We are establishing an Industrial Facilitation Centre as a true Single Window.

¶ 08 Hon. Dayasiri Jayasekara raised concerns that when domestic firms like Prime Lands, Home Lands, and ICC step into Port City, some committees haul them up and social media attacks erode trust. Initial teething issues should be sorted without undermining legitimate local players. While litigation must run its course, we seek court guidance to proceed where appropriate and uphold the law while protecting fair competition.

¶ 09 To the Opposition’s broader critique: since introducing the QR and Wednesday measures, no fisheries fleet, hotel, garment factory, or distribution hub has been immobilized for lack of fuel. CPC and the Industry Ministry have jointly facilitated fuel to over 1,300 industrial facilities. Our stability is creating a better environment to attract investment.

¶ 10 Question put, and agreed to.