1. Allocation of lands to United Arab Emirates Capital Investment LLC on a long
term lease basis for executing a luxury hotel project

United Arab Emirates Capital Investment LLC has submitted a project proposal to
acquire a land adjacent to Maussakale Reservoir and a small island located in the same
reservoir, which are currently in the custody of the Ceylon Electricity Board, on a long-
term lease basis, for a project to build and run a hotel complex by using USD 25 million
as a direct foreign investment. Accordingly, the Cabinet of Ministers approved the
proposal made by the Hon. President in his capacity as the Minister of Investment
Promotion to allocate those lands to the said company on a long-term lease basis to
implement the proposed project by obtaining the agreement of the relevant institutions.

2. Entering in to Memorandum of Understanding on cooperation in tourism sector

An agreement has been reached between the Sri Lanka Ports Authority and the ‘Legal
entity of Public law’ of the Georgian National Tourism Administration Institute to enter
into a Memorandum of Understanding on cooperation in the tourism sector. The draft
MoU prepared for this purpose has received the Attorney General's clearance.
Accordingly the Cabinet of Ministers approved the proposal presented by the Minister of
Lands to sign the Memorandum of Understanding above.

3. The project for Mainstreaming Wetland Biodiversity and Sustainable Land
Management in Sri Lanka through Partnerships and a New Financing Process

The existing biodiversity, the degradation of water catchment areas, the productive
capacity of the soil and the existence of annual and perennial crops including tea and
rubber in the wet zone have been severely affected by the high demand for lands, forest
fragmentation, deforestation and land degradation, rapid development processes, spread
of invasive alien plants, impact of unsustainable temperature and drought. Therefore, the
focus is on taking appropriate measures for sustainable land management and
conservation of small forests with high biodiversity around tea and rubber lands. The
United Nations Development Program has agreed to provide a grant around USD 4
million through the Global Environment Facility for the implementation of the project
for streamlining biodiversity and sustainable land management in Sri Lanka's wetlands.
Accordingly the Cabinet of Ministers approved the proposal presented by the Minister of
Environment to enter into an agreement between the United Nations Development
Program and the Ministry of Environment in order to obtain the relevant grant for the
proposed project planned to be implemented through public-private and community
partnership in the 6 districts namely Nuware Eliya, Rathnapura, Kegalle, Kalutara, Galle
and Matara.

4. Sri Lanka to Host the Integrated Field Exercise-2025 of Comprehensive Nuclear-
Test-Ban Treaty Organization On-Site Inspection

On 12.06.2023, the Cabinet of Ministers has granted their approval for the ratification of
Comprehensive Nuclear Test Ban Treaty signed by Sri Lanka on 24.10.1996. Article IV
of the treaty has established a verification mechanism for conducting an on-site
inspection to confirm whether a country has carried out a nuclear test/explosion. The
Integrated Field Exercise program has been introduced to carry out the activities and
tasks related to that and to provide training on test equipment. The Bureau of Geological
Survey and Mines has applied to host the Integrated Field Exercise-2025 as the Technical
Center of the Comprehensive Nuclear-Test-Ban Treaty Organization in Sri Lanka.
According to the eligibility assessment made as per the request, it was identified that the
area adjacent to the Maduru Oya National Park is suitable for conducting Integrated Field
Exercises. Accordingly, the Cabinet of Ministers approved the proposal presented by the
Minister of foreign affairs to host the On-Site Inspection Integrated Field Exercise 2025
was approved by the Cabinet of Ministers.

5. Repatriation of Sri Lanka's cultural heritage held by foreign countries

According to Articles 7 and 13 of the Charter on the Prohibition and Prevention of Illicit
Import, Export and Transfer of Ownership of Cultural Property adopted by UNESCO in
1970, any cultural property currently in the possession of a foreign country has the right
to request its return to the government to which it belongs. Accordingly, the government
of the Netherlands has decided to return the artifacts taken from the colonial countries
and currently deposited in the state museums of the Netherlands to the countries that own
the artifacts. A research project has been conducted with the participation of the museum
department and independent researchers regarding 6 such artifacts in the Netherlands and
it has been confirmed that all the artifacts were brought from Sri Lanka during the
colonial period. The Ministry of Buddhasasana and Cultural Affairs has already made a
diplomatic request to bring back the artifacts to Sri Lanka. Accordingly, the cabinet of
Ministers approved the proposal presented by the Minister of Buddhasasana and Cultural
Affairs to appoint an committee of officials to take further steps in this regard and to
prepare an action plan for repatriating the Sri Lankan artifacts currently in various
countries.

6. Establish and climate justice forums" of like-minded developing and climate-
vulnerable countries to accelerate global political action.

In the global climate dialogue, several critical areas are being discussed which will affect
the developing countries facing climate risks. Although more attention was paid to the
establishment of a loss and damage fund in the past discussions on climate change, the
establishment of the fund has been delayed due to various reasons. Therefore, Sri Lanka
has proposed the establishment of a "Climate Justice Forum" with the aim of accelerating

the financing of losses and damages and providing an alternative and non-traditional
approach. Also, Sri Lanka is of the opinion that it is appropriate to include "debt justice"
as an essential component of the overall solution proposal to be given to the climate-
vulnerable and developing countries for their mitigation and adaptation interventions,
taking into account the debt crises faced by those countries. In order to make that effort
successful, the cabinet approved the implementation of the strategic program presented
by the Minister of Environment as the proponent of establishing the Climate Justice
Forum.

7. Allocation of land from Vavuniya district under long term lease basis to the Sutech
Sugar Industries (Pvt.) (Green Field Sugar Development Project)

A project proposal for sugarcane cultivation and sugar production in Vavuniya with an
investment of USD 400 million has been submitted by Thailand's Sutech Engineering
Company. The proposed project is expected to produce 20% (MT 120,000 of sugar) of
the country's sugar requirement. For the factory premises and related facilities required
for this project, a 200 hectare land covered by a scrub jungle belonging to the Department
of Forestry in Vavuniya North Divisional Secretariat Division has been identified as
suitable. The Department of Forest Conservation has agreed to provide that land for the
implementation of the proposed project. Accordingly the Cabinet of Ministers approved
the proposal presented by the Hon. President in his capacity as the Minister of Investment
Promotions to take necessary further steps for implementation of this project.

8. Reform of the law on insolvent

Provisions relating to consumer insolvency and unincorporated small business insolvency
are contained in the Insolvency Ordinance 1853 and provisions for company insolvency
are contained in the Companies Act No. 7 of 2007. As the existing provisions under those
laws are not sufficient for the present needs, there is a need to introduce a new combined
law on insolvency Accordingly, the Cabinet of Ministers approved the combined
proposal presented by the Hon. President and the Minister of Justice, Prison Affairs and
Constitutional Reforms to to authorize the Law Commission to discuss with the relevant
parties and prepare and submit preliminary drafts within a period of 3 months.

9. Social Security Contribution Tax (Amendment) Bill

Cabinet approval has been given on 30.01.2023 to introduce several amendments to the
Social Security Contribution Levy Act No. 25 of 2022 and to advise the legal draftsman
to prepare an amended bill for the same. The Social Security Contribution Tax
(Amendment) Bill prepared accordingly by the draftsman has received the Attorney
General's clearance. Accordingly the Cabinet of Ministers approved the proposal
presented by the Hon. President in his capacity as the Minister of Finance, Economic

Stabilization and National Policies to publish the said bill in the Government Gazette
and submit for the parliamentary approval consequently.

10. Deprivation of religious freedom and distortion of religious facts. by voice

The requirement to introduce legal provisions to secure religious freedom and prevent
insults to religious teachings / preaching has been recognized. Accordingly, considering a
proposal submitted by the Minister of Buddha Sasana, Religious and Cultural Affairs, the
approval of the Cabinet of Ministers was granted to appoint a committee representing
religious leaders of the main religions namely Buddhism, Muslim, Hindu, Catholic and
Christian, those excelled in the legal sphere, media and civil society activists to submit a
report with recommendations by studying the matter.

11. Submission of orders formulated under the Convention against Doping in Sports
Act No. 33 of 2013 to the Parliament.

In terms of section 34 (1) of the Convention against Doping in Sports Act No. 33 of
2013, the orders refraining from doping in sports (prohibited list) No. 8 of 2022 prepared
by the Minister of Sports and Youth Affairs, has been published in the gazette
notification No. 2329/43 dated 27.04.2023. The Cabinet of Ministers has granted
approval to the resolution furnished by the Minister of Sports and Youth Affairs to
submit the said orders to the Parliament for their concurrence.

12. Sri Lankan Chairmanship of Indian Ocean Rim Association (IORA) – 2023 - 2025

The Chair of the Indian Ocean Rim Association (IORA) comprised of 23 member
countries in the boundary of the Indian Ocean is scheduled to be handed over from
Bangladesh which is the present chairing party to Sri Lanka in this October 2023.
Measures should to taken to strengthen regional cooperation for the development of its
member countries along with the region during the period of bearing the office of the
chairman. The Cabinet of Ministers granted approval to the resolution furnished by the
Hon. President in his capacity as the Minister of Defence to initiate a national
performance force comprised of representatives from the relevant Ministries and
institutions under the chairmanship of a senior officer of the Presidential Secretariat in
the Ministry of Foreign Affairs and to initiate a Secretariat for a period of two years.

13. Submission of the regulations issued under Import and Export (Control) Act No. 1
of 1969 for the concurrence of the Parliament.

Regulations have been issued as per Import and Export (Control) Act No. 1 of 1969 to
suspend the import of certain selected goods with a view to ease the steaming pressure on
the foreign exchange reserves and the financial market due to unfavourable economic

circumstances prevailing within the country. The Central Bank of Sri Lanka, as well as
other relevant parties, have recognized the requirement to eliminate the limitations for the
import of selected goods categories that cause a minimum impact on the balance of
payments through easing the said regulations. Accordingly, it has been decided to remove
286 combined classification codes from the list consisting of 1,216 combined
classification codes in the schedule of suspending imports. The Import and Export
(Control) Regulations No. 9 of 2023 for the purpose has been published in the
Extraordinary Gazette Notification No. 2335/26 dated 09.06.2023. The Cabinet of
Ministers approved the proposal furnished by the Hon. President in his capacity as the
Minister of Finance, Economic Stabilization and National Policies to submit the said
regulations to the Parliament for its concurrence.

14. Obtaining the assistance of the World Bank to implement the Economic
Stabilization and Restoration Programme through the Development Policies
Financing Programme.

Discussions have been held on 17.05.2023 in regard to obtaining assistance from the
World Bank under the Development Policies Financing Programme for a period of 02
years with effect from 2023 to 2024. Concurrence has been expressed to provide 371.2
million in two instalments which is equivalent to special draft rights (SDR) of United
States Dollars 500 million for the year 2023 under the above programme. Clearance of
the Attorney General’s Department and the concurrence of the Central Bank of Sri Lanka
have been obtained for the proposed financial facility. Accordingly, the Cabinet of
Ministers approved the proposal furnished by the Hon. President in his capacity as the
Minister of Finance, Economic Stabilization and National Policies to enter into an
agreement with the International Development Association (IDA) of the World Bank

Group in relation to obtaining the said financial facility.

15. Establishment of Gambling Regularization Authority

The requirement for the establishment of a regularization entity under the name of
Gambling Regularization Authority will affect all the gambling establishments operators
in charging expected tariffs from gambling, prevention of crimes related to gambling,
minimizing the negative impact on individuals and society through gambling etc.
Accordingly, the Cabinet of Ministers approved the proposal furnished by the Hon.
President in his capacity as the Minister of Finance, Economic Stabilization and National
Policies to direct the Legal Draftsman to draft a bill to establish the Gambling
Regularization Authority

16. Access to the agreement on Regional Comprehensive Economic Partnership (RCEP)
The Regional Comprehensive Economic Partnership (RCEP) is the independent trade
accord implemented by the 05 countries namely, Australia, China, Japan, South Korea

and New Zealand who are the regional countries that have entered into independent trade
accords already with the 10 member countries of Association of Southeast Asian Nations
(ASEAN) and its member states. Joining hands with the said agreement opens doors to
harvesting more economic and other benefits to Sri Lanka. Therefore, the Cabinet of
Ministers granted approval to the proposal submitted by the Hon. President to entrust the
Secretary to the President for directing a formal letter of concern to take part in the
Comprehensive Economic Partnership (RCEP).

17. Amendments proposed to the Banking Act No. 30 of 1988

It has been proposed to amend the Banking Act No. 30 of 1988, considering the
importance of maintaining a banking sector with the contemporary and resistant
capability that assists sustainable economic growth. Accordingly, the Cabinet of
Ministers approved the proposal furnished by the Hon. President in his capacity as the
Minister of Finance, Economic Stabilization and National Policies to direct the Legal
Draftsman to draft a statute for the amendment of the Banking Act No. 30 of 1988