The Higher Education Ministry has forwarded the relevant legislation to set up foreign private universities to the Cabinet for approval.
Once approved by the Cabinet of Ministers the relevant act is to be presented to parliament for approval.
The legislation will include the qualifications framework, standards protection and other related areas in order to establish an international university in the country.
Officials from the Higher Education Ministry have told the media that plans have already been submitted to establish five international universities in Sri Lanka.
The Higher Education Ministry has so far received about 25 applications from several countries including India, Japan, Australia, America and the United Kingdom in order to set up international universities in the country.