Sri Lanka jumps 11 places to 100th rank in World Bank’s Doing Business index
Oct 31, 2018 20:08 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT – Sri Lanka rose 11 notches in the World Bank’s 2019 Doing Business index, being ranked 100 among 190 economies in the ease of doing business, up from 111 in 2018.
According to the latest World Bank annual ratings, the island’s ease of doing business score, rating from 0 to 100, rose to 61.22 from 59.42 last year.
“Sri Lanka carried out four reforms which included making Dealing with Construction Permits easier, while the introduction of online systems made it easier to pay taxes in Sri Lanka and Bhutan,” a statement said. “Sri Lanka advances to a global rank of 100 this year.”
India, in 77th place in the Doing Business rankings, is the highest ranked economy in South Asia, followed by Bhutan (81) and Sri Lanka (100).
“Sri Lanka made dealing with construction permits more streamlined and less time-consuming by launching a single window counter and improving the efficiency of obtaining certificates required to undertake a construction project,” the World Bank said.
“Half of all regional economies, Afghanistan, Bhutan, India and Sri Lanka streamlined the process of paying taxes.”
(COLOMBO, 31 October, 2018)