Business rankings need upgrading
World Bank report not realistic due to loopholes:
With greater political and macro-economical
stability in the country, Sri Lanka needs to upgrade its doing
business rankings to attract more investments. Economic Development
Minister Basil Rajapaksa said despite the greater political and
macro-economical stability in the country, Sri Lanka’s doing
business ranking is 105 according to the World Bank report.
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Huge demand from Japan:
Maruchi Lanka to expand with Rs 25m investment
Leading manufacturer and exporter of computer
components and electronic items Nippon Maruchi Lanka Electronics
will go for a Rs 25 million expansion to meet the increasing demand
for their products in the international market. The demand for our
products has increased by more than 100 percent in the recent past
and we are compelled to expand the company by increasing staff by
about 100 employees from engineers to technicians immediately,
Chairman Shelton Fernando told Daily News Business.
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EDB set to exploit new markets
Sri Lankan exports have not yet exploited the
North American and Asian market segments. The Export Development
Board expects to concentrate fully on the emerging and ever
expanding Asian and Australian markets where two third of the
world’s population resides, Export Development Board (EDB) Chairman
and CEO Janaka Ratnayake told Daily News Business at the EDB.
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