Government revises procurement procedures to accelerate Rs. 2 trillion capital spending next year

EconomyNext reports that the Ceylon Chamber of Commerce welcomed Budget 2027’s overall direction, saying it maintains policy continuity, macroeconomic stability and fiscal discipline as Sri Lanka seeks to move from stabilisation towards investment-led growth. The chamber also stressed that timely implementation would be important and said the budget could have done more to attract foreign investment, advance land and labour reforms, and speed up public procurement.

EconomyNext reports that the chamber identified tourism, agriculture, IT and business-process outsourcing, and logistics as sectors that could benefit from more specific proposals. It also welcomed the continuation or strengthening of measures including a Trade National Single Window, phased removal of para-tariffs, a Digital ID framework, new trade agreements, investment facilitation, Customs changes, expansion of Bandaranaike International Airport, support for small and medium-sized enterprises, and state-owned enterprise reforms.

Newswire reports that the Seafood Exporters’ Association of Sri Lanka welcomed budget incentives, fisheries programmes and trade reforms, and said the sector could reach US$680 million in annual export earnings by 2030 with sustained investment, infrastructure improvements and supportive trade policy. It reported that seafood exports earned US$246.12 million in the first nine months of 2026, including US$64 million from value-added products; their share of earnings rose from 4% in 2022 to 26% over that 2026 period.

Newswire reports proposed financing of up to Rs. 500 million at 5% interest for qualifying large fisheries businesses and a 200% enhanced capital allowance for qualifying export-oriented manufacturing investments approved by the Board of Investment and worth at least US$3 million. It also reports plans for Rs. 5 billion in northern fisheries infrastructure, including Pesalai Harbour and fishery anchorages, and Rs. 1 billion for sustainable resource management. The association welcomed proposed Customs changes, improvements to the Temporary Importation for Export Processing scheme and the trade single window.

Newswire reports that the 2027 budget includes Rs. 2 trillion in capital allocations, while Hiru News reports that procurement procedures have been revised to speed up that spending. EconomyNext reports that a Cabinet spokesman acknowledged the government would not fully use the 2026 capital investment allocation. Newsfirst reports separate budget plans to fund tea, rubber and coconut industries and to transform fisheries towards higher-value exports; another Newsfirst report gives a 2030 fisheries export target of US$600 million.

Written automatically by AI from the outlets’ own reports, and not reviewed by an editor. It can be wrong — the original report is the authority.