Ease of Doing Business: Sri Lanka jumps 11 notches to 100th place

Colombo (News1st): Sri Lanka rose 11 notches in the World Bank’s 2019 Doing Business index. The country was ranked 100 among 190 economies in the ease of doing business. 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. A statement read that 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. India, in 77th place in the Doing Business rankings, is the highest ranked economy in South Asia, followed by Bhutan at 81 and Sri Lanka at 100. The World Bank said 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.