Development (Special Provisions) Bill to expedite FDI sans delays, says Malik

The Development (Special Provisions) Bill, published in the Government gazette recently, will help expedite the approval process of Foreign Direct Investments (FDI) into the country without any administrative delays, said Minister of Development Strategies and International Trade Malik Samarawickrama.

“This is to ensure that foreign investors can confidently invest in Sri Lanka without being worried about any delays on securing permits and reports from the relevant line ministries,” the Minister told the Sunday Times.

The Bill, published in the gazette on the orders of Prime Minister Ranil Wickremesinghe, who is also the Minister for National Policies and Economic Affairs, has come in for criticism from the Opposition for seeking to create an all too powerful ministry, amidst fear it would supersede the powers of the provincial authorities.

Mr Samarawickrema, however, said that, the new law ensures that provincial authorities are consulted on all matters but, would enable more coordination between the centre and the regions.

Five Regional Development Boards (RDB) will be set up under the provisions of this Bill, including for the Southern Development Board, the area of authority which will be for the administrative districts of Galle, Matara, Hambantota, Moneragala and Ratnapura.

The others are the Northern region which will consist of the administrative Districts of Jaffna, Kilinochchi, Mannar, Vavuniya and Mullaitivu. The Wayamba Development Board which will consist of the administrative Districts of Puttalam, Kurunegala and Kegalle. The Central Development Board which will consist of the administrative Districts of Matale, Kandy, Nuwara Eliya and Badulla. The Eastern Development Board which will consist of the administrative districts of Anuradhapura, Polonnaruwa, Trincomalee, Batticaloa and Ampara.

The Chief Secretaries of each Province will be among those who will be members of these Boards.

The objective of these Boards is to coordinate at regional level, the implementation of development plans, programmes and projects of the Government and the Provincial administration, and to monitor oversight of such plans, programmes and projects.

The RDBs will be required to, in consultation with the Government and the Provincial administration, prepare a report on all plans, programmes and projects in each administrative district of such region for 2017, 2018 and 2019.

The Bill also provides for the establishment of a Policy Development Office (PDO) which will be tasked with the planning, formulating and development of draft proposals for a National Policy and National Policy Framework (NPF) on any subject including economic development, for consideration by the Cabinet of Ministers.

Where plans and programmes relate to any subject which is a provincial subject, the Chief Ministers of the relevant Provincial Council will need to consult.

An Agency for Development will also be set up under the proposed law, which will assist the relevant authority in stimulating, expanding and developing economic growth through the NPF on economic development, strengthening the economic base of Sri Lanka with a view to modernising the economy, enabling Sri Lankan goods to enter the global value chain and compete in the global market, enhancing the competitiveness of Sri Lankan Goods and Services etc.

The Bill also provides for the President to annually summon a Conference of the Cabinet of Ministers, Chief Ministers of the Provinces and the Chairpersons of Parliamentary Oversight Committees to discuss the plans, programmes, schemes and projects under this Act.