Sri Lanka among 10 improving economies

Sri Lanka is one of the 10 economies in the world that are improving the most in the ease of doing business, according to a new global survey by the IFC and World Bank comparing 185 countries. Climbing eight places from 89th to be ranked at the 81st place to do business, Sri Lanka for the first time in seven years ranked among those improving the most in the ease of doing business according to 'Doing Business 2013: Smarter Regulations for Small and Medium-Size enterprises' report released this week.

This was revealed at the seminar on 'Sri Lanka's doing business ranking for 2013 and future strategies' at John Exter International Conference Hall of Central Bank on Friday.

Economic Development Minister Basil Rajapaksa was the Chief Guest.

According to the Doing Business Ranking Computed by the World Bank Group, Sri Lanka is ranked 81 of 185 countries in 2013. This is a tangible improvement compared to the ranking achieved in 2012, which was 96.

The Doing Business Ranking presents quantitative indicators on Business regulations and protection of property rights that can be compared across 185 economies.

A set of regulations affecting 10 stages of a business's life were measured for the 2013 ranking: Starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting investors, paying taxes, trading across boarders, enforcing contracts and resolving insolvency. Central Bank of Sri Lanka Governor Ajith Nivad Cabral, Prime Minister's Secretary S. Amarasekera, Colombo Mayor A.J.M. Muzammil, Central Bank Deputy Governor Dr. Nandalal Weerasinghe, government officials and Central Bank officers also participated.