Sri Lanka Ranked 99th in “Ease of Doing Business Index 2020”
The World Bank placed Sri Lanka at the 99th position in the Ease of Doing Business Index 2020, one spot above last year’s ranking. Sri Lanka’s “Doing Business score” has improved from 61.22 out of a possible 100 to 61.80 this year. In the South Asian region, Sri Lanka is ranked above Pakistan, Maldives Bangladesh and Afghanistan, but below India, Bhutan and Nepal. Sri Lanka displayed some improvement in certain areas such as starting a business, dealing with construction permits, obtaining electricity and protecting minority investors, but remained weak in enforcing contracts, registering property, etc.
The World Bank also reveals that South Asia records the highest share of trade reforms in “Doing Business 2020”, where India has progressed from the 77th position to 63rd, to secure the highest rank in the region, while Pakistan has improved by 28 places to be ranked as the 108th.
The “Ease of doing Business Index” is a World Bank group’s flagship publication, ranking countries based on how conducive their economic environments are to carry out business operations smoothly. It presents quantitative indicators on protection of property rights and business regulations across 190 nations worldwide.