November 11, Colombo (LNW): The Cabinet of Ministers has approved a proposal by President Anura Kumara Dissanayake, in his capacity as Minister of Finance, Planning, and Economic Development, to draft new legislation aimed at safeguarding private property and strengthening investor confidence.
The proposed bill seeks to prevent arbitrary nationalisation of private enterprises and assets, while also providing a legal framework to ensure long-term policy stability for investors. The initiative was first outlined in the 2025 Budget as part of a broader effort to promote a secure and predictable investment climate in Sri Lanka.
According to government sources, the legislation will also include provisions for the creation of an Investment Security Board — a body tasked with resolving disputes, enhancing transparency, and forecasting policy directions affecting both domestic and foreign investors.
A committee of senior officials had earlier been appointed to prepare a concept paper outlining the scope and principles of the proposed law. With this groundwork completed, the Cabinet has now authorised the Legal Draftsman’s Department to proceed with the preparation of the draft bill.
Officials noted that the forthcoming legislation is intended to reassure the business community of the government’s commitment to protecting private ownership and ensuring policy consistency — both seen as key prerequisites for attracting sustainable investment and driving economic recovery.
