COLOMBO (EconomyNext) – The Joint Business Chambers of Sri Lanka said they welcome and endorse timely action by the Ministry of Finance to talk to both the private and public sectors on how to improve ease of doing business.
“The Chambers are encouraged that the continuous efforts of the government comes based on suggestions made by the business community of the country during their interactions with the Ministry of Finance,” they said in a joint statement.
“We also welcome the formulation of a high-powered committee consisting of both the public and private sector stakeholders to spearhead this important exercise.”
The ministry’s talks with the public institutions and private sector aim to address issues concerning the improvement of Sri Lanka’s Ease of Doing Business Ranking, now at 99, among 189 countries.
The ranking is an evaluation done by the World Bank annually.
“Achieving a higher ranking on this index would enable Sri Lanka to attract Foreign Direct Investments, while facilitating the growth of the economy,” the statement said.
The chambers said they have had deliberations with trade associations and other affiliates in identifying issues that the industry experiences in doing business, and would look at them both from an “operational and strategic perspective”.
The first round of talks are to be held at the Ministry of Finance on 14th of May, 2015.
This statement was jointly issued by The Ceylon Chamber of Commerce, The National Chamber of Commerce of Sri Lanka, Federation of Chambers of Commerce and Industry of Sri Lanka, Ceylon National Chamber of Industries, International Chamber of Commerce, National Chamber of Exporters of Sri Lanka, The Chamber of Young Lankan Entrepreneurs and The Joint Apparel Association Forum.