Ease of Doing Business to facilitate business ventures

The Government while creating an enabling environment to expand business, will look for ways and means to reduce the turn-around time in matters related to doing business. State institutions strive to cut down on bureaucracy in government policies and regulations to facilitate and fast track setting up business ventures, Finance Minister Ravi Karunanayake told guests at the launch of the ‘Ease of Doing Business’ program recently.

The Government has paved the way for the local business sector to push boundaries and capitalise on foreign business ties which are developing at a phenomenal rate, he said.

“India, China, the European Commission, Japan and Korea are the frontrunners among the countries which are more than eager to invest in Sri Lanka, as the country is a natural destination for foreign investments.

Today, it has caught the attention of the global business community as well,” Karunanayake said.

“Sri Lanka has attracted the attention of powerful global investment giants.

They are more than willing to invest in Sri Lanka due to the business-friendly atmosphere which prevails in the country and a large number of investments is expected,” the Minister said.

The ‘Ease of Doing Business’ program is an initiative of Finance Minister Karunanayake and its sole objective is to simplify the local business environment and further strengthen it by promoting more foreign interactions.

The program will also lay the foundation for local businesses to come forward and resolve issues while providing an opportunity for the business community to maintain an active relationship with the State sector.

“Through this program we hope to support the local business sector and provide ample opportunities for the private sector to interact with the State sector and the global business community,” he said.

A special Secretariat has been set up to handle the problems faced by the business community. He said that the office will be committed to supporting and providing vital insights to businesses and that it will also provide guidance during tough situations.

A website was also launched by Karunanayake in which the local business community could post problems and challenges that they face.

- SJ