The Ceylon Chamber of Commerce appreciates steps taken to develop the Hambantota Port as a Public Private Partnership (PPP). Its an important step towards positioning Sri Lanka as a full-service maritime hub.
In addition to the boost to the country’s foreign reserves, the reported scale and size of the investment is expected to generate meaningful FDI in port-related activities, as well as businesses around the port.
At a meeting held recently with the Ceylon Chamber’s National Agenda Committee on Logistics and Transport and other private sector stakeholders, Minister of Ports and Shipping, Mahinda Samarasinghe, Chairman SLPA, Dr. Parakrama Dissanayake, and Executive Director SLPA, H. A. Wimalasoorya, briefed attendees on the concession agreement signed for the development of the Port.
The Minister elaborated on areas of concern, including on how the selection of the concessionaire was done, how national interest, prevailing law and security considerations have been addressed, and how the two new companies - Hambantota International Port Group and Hambantota International Port Services have been structured.
Industry representatives noted that economic benefits arising from a growth in industrial activity would create more employment opportunities with sizable impetus to propel growth in the maritime related services and logistics sectors around the Port.
The Chamber now expects the implementation of the Agreement in a manner that would serve the best interests of our country.
The Chamber is convening a seminar for its members to provide an opportunity to hear more details and seek clarifications on obligations under the Agreement and plans for implementation.
While recognizing the circumstances in which the PPP was required to be finalized,the Chamber urges the Government to ensure that the principle of collective responsibility is respected, so as to inspire confidence in the decision taken. Sri Lanka needs to enhance its reputation as a business destination that has a credible and predictable investment regime.
This is challenged when seemingly conflicting sentiments are expressed by responsible Government sources. The NACLT comprises leaders in the private and public sectors with experience in maritime, shipping, and logistics. Since last year, the NAC has been continuously lobbying to fast-track the development of the ECT and the development of an e-Hub for trade facilitation, aimed at boosting Sri Lanka’s position and status as a vibrant hub.
This Committee is part of five NACs functioning as thought-leadership groups at the CCC, developing insights and advocacy on key strategic economic themes.