Colombo_Port_City_Economic_Commission_Act
The bill titled as Colombo Port City Economic Commission Bill is regarded as one of the important legislations to be passed in the Parliament of Sri Lanka as it is related to the Colombo Port City project, which is the biggest foreign investment received by Sri Lanka from China in the country's history. The bill was slated and deemed as controversial as critics feared that China could influence in Sri Lankan territory through the Port City project.
However, critics pointed out that the bill has been mandated on the favour of Chinese authorities and insisted that the bill was also not subjected to pre-parliamentary review by the professional organisations. The draft bill was reportedly prepared by the Chinese Harbour Company Ltd.[1]
The bill which contains 76 pages provides legal framework to set up Special Economic Zone within the Colombo Port City and the bill also provides for the establishment of a Colombo Port City Economic Commission empowered to grant registrations, authorisations and licenses in the Special Economic Zone.[2]
Despite the odds, the bill also marks historic importance as it is set to bring influx of foreign direct investment to Sri Lanka. The bill was passed successfully in the Sri Lankan parliament on 20 May 2021 with few amendments to the bill as recommended by the Supreme Court of Sri Lanka.[3][4] The third reading of the bill was passed with a majority of votes (149 votes) supporting in favour of the bill.[5][6][7]
The Government of Sri Lanka was also criticised for passing the bill during the critical time of the COVID-19 pandemic in Sri Lanka.