SL Economic Summit to ‘ease of doing business’

The Sri Lanka Economic Summit scheduled to be held in Colombo from July 10 to 12 will examine the ground realities in doing business in Sri Lanka at its sixth session titled “Ease of Doing Business Sri Lanka Ranked 89 Fact or Fiction?” The event is organized by the Ceylon Chamber of Commerce for the 13th consecutive year.

Sri Lanka’s rank in the World Bank Doing Business Report improved over the last two years. Out of 183 countries, Sri Lanka’s rank moved from 110 to 98 in 2011 and to 89 in 2012. Of the ten indicators used to measure ease of doing business two indicators; that of protecting investors and trading across borders have shown notable improvements.

The government has taken an initiative to improve Sri Lanka’s ranking as global indices are often used by international investors to make an initial assessment of the country.

While no ranking system is perfect and the same counts for the assessment of 'ease of doing business', what is more important is actual progress in reforms to have a material improvement in the regulatory framework and systems to ease business processes.

The session will have senior government officials and private sector leaders who will update the audience on reforms in progress and discuss what other measures are required to further simplify the systems and processes to do business.

The main presentation at this session will be conducted by C. J. P. Siriwardena, Assistant Governor, Central Bank. For more information visit www.chamber.lk