Company registrations rise

Ramani Kangaraarachchi

The registration of new companies has increased by nearly 44 percent upto August this year compared to 2010, Registrar of Companies D.K. Hettiarachchi said.

He said from January to August in 2010 a total of 3,685 companies were incorporated and from January to August 2011 it has increased upto 5,304 companies.

The total number of companies registered with the Department of Registrar of Companies upto August 31, 2011 stands at 48,144 and out of this 23,363 companies were incorporated after the new Companies Act was implemented.

Hettiarachchi said all these companies are active and according to private sector companies the conducive environment in the country for business has brought this result.