Chambers hail Finance Ministry initiative aimed at improving Doing Business ranking

13 May 2015 03:33 am - 0     - {{hitsCtrl.values.hits}}

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A joint business chamber statement yesterday welcomed the timely initiative taken by the Finance Ministry to engage in a series of discussions with the public institutions and private sector to address the issues concerning the improvement of Sri Lanka’s Ease of Doing Business Ranking, which now ranked at 99, among 189 countries. 
“The Chambers are encouraged that the continuous efforts of the government comes based on suggestions made by the business community of the country, during their interactions with the Ministry of Finance and, we also welcome the formulation of a high-powered Committee consisting of both the public and private sector stakeholders to spearhead this important exercise,” the statement noted. 
The Ease of Doing Business Ranking is an evaluation done by the World Bank annually, and achieving a higher ranking on this index would enable Sri Lanka to attract FDIs, while facilitating the growth of the economy.
The statement said the chambers had deliberations with the trade associations and other affiliates in identifying the issues that the industry experiences in doing business, and would look at the issues both from an operational and strategic perspective and intend to engage proactively with the public sector in the envisaged series of meetings, where the first such meeting is expected to be held at the Ministry of Finance on the May 14, 2015.
This statement was jointly issued by The Ceylon Chamber of Commerce, The National Chamber of Commerce of Sri Lanka, Federation of Chambers of Commerce and Industry of Sri Lanka, Ceylon National Chamber of Industries, International Chamber of Commerce, National Chamber of Exporters of Sri Lanka, The Chamber of Young Lankan Entrepreneurs and The Joint Apparel Association Forum.

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