Daily News Online

Monday, 24 May 2010



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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Female workers at the Maruchi Lanka Electronics product lines manufacturing components.
Picture by Sudath Nishantha

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