Ease of doing business ranking:

Business chambers welcome Finance Ministry move

The Joint Business Chambers of Sri Lanka welcomes and endorses the timely initiative taken by the Ministry of Finance to engage in a series of discussions with the public and private sector institutions to address the issues concerning the improvement of Sri Lanka's Ease of Doing Business Ranking, which is today ranked at 99, among 189 countries, a media release from the institution said.

Extracts from the release

The Chambers are encouraged that the continuous efforts of the government was based on suggestions made by the business community, during its interactions with the Ministry of Finance and, we also welcome the formulation of a high-powered committee consisting of public and private sector stakeholders to spearhead this important exercise.

The Ease of Doing Business Ranking is an evaluation done by the World Bank annually and achieving a higher ranking on this index would enable Sri Lanka to attract FDIs, while facilitating the growth of the economy. The Chambers have had deliberations with trade associations and other affiliates to identify the issues that the industry faces in doing business from an operational and strategic perspective and engage proactively with the public sector in the envisaged series of meetings. The first such meeting was held at the Ministry of Finance on Thursday.