This NAC has quickly focussed on new and under-developed areas in the financial industry. The Committee was one of the first to present recommendations for introducing Real Estate Investment Trusts (REITs) to the Securities and Exchange Commission of Sri Lanka, and continues to deliberate on the topic. The Committee is working through four sub-committees, on ‘Real Estate Investment Trusts’; ‘Private Equity & Venture Capital’; ‘Listing of State Owned Enterprises’; and ‘Unit Trusts & Mutual Funds’. The sub-groups are working collaboratively with sector regulators and relevant government agencies to push this agenda forward.

1. To drive the Chamber’s efforts in recommending suitable strategies and advocating the development of a strong finance and capital markets industry fit for a more dynamic and global Sri Lankan economy.

The NAC has identified, good practices that need to be in place, in order to attract more private investment into public infrastructure projects including tackling some critical bottlenecks that currently exist. The NAC worked specifically on Private-Public Partnerships (PPPs), given the interest of funding agencies, the government, and indeed the private sector. Together with international organizations like the World Bank and IFC, the NAC has developed a set of key activities that need to be undertaken to spur PPP activity, learning from previous successful PPP initiatives.

This NAC has quickly begun addressing some of the key challenges in demand and supply of energy. Having commenced its deliberations in late 2017, the committee is engaged in a series of consultations with stakeholders in the industry in order to hone down on the critical challenges to providing quality power, and is in the process of developing recommendations on establishment of a well-structured, clear, and transparent procurement process.

1. To drive the Chamber’s efforts in recommending suitable strategies and advocating solutions to resolve pressing issues in the energy sector such as good quality, reliable, and cost-effective power and energy for all sectors of the economy. Further, to advocate moving towards more environmentally sustainable sources of energy.

In 2016, the Ceylon Chamber of Commerce launched the National Agenda Committees (NACs) initiative. The NACs are thought-leadership groups with the foremost insights on key strategic economic themes. They are multi-stakeholder in nature, and are working together to challenge conventional thinking, develop new insights, and put forward innovative solutions. The seven NACs established thus far are the NACs on Energy; Finance and Capital; Logistics and Transport; Infrastructure; Digital Economy; Public Sector Reforms; Entrepreneurship Ecosystem.

In its role of being the voice of the private sector, the Ceylon Chamber of Commerce (“CCC”) believes that the highest priority should be accorded to national interests and that its obligation to address member concerns be discharged in a responsible manner. It is within these parameters that the mandate of NACs has been identified. The role of the National Agenda Committee on Trade is to drive the Chamber’s efforts in recommending suitable strategies and advocating for resolving pressing trade issues.