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Wednesday, 01 November 2017 - 16:06
Sri Lanka slips to 111 in World Bank’s "Doing Business Ranking”
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Sri Lanka slipped a notch again this year to rank 111th in the World Bank's "Doing Business 2018″ index, which measures the ease of doing business in 190 countries.
 
Despite a decline of a notch from last year, the overall business environment improved in Sri Lanka with a slightly higher distance to frontier (DTF) score of 58.86 in terms of ease of doing business for 2018.
 
The Doing Business project provides objective measures of business regulations and their enforcement across 190 economies and selected cities at the subnational and regional level.
 
Sri Lanka's overall rank has declined mainly due to the difficulties faced by the entrepreneurs in registering property - Procedures, time and cost to transfer a property and the quality of the land administration system.
 
In Registering Property, Sri Lanka ranked at 157th among 190 countries. While it takes 51 days to register a property, getting a construction permit takes 115 days.
 
In Getting Credit Sri Lanka ranked at 122 - behind the South Asia regional average as well as India and Pakistan.
 
However, Sri Lanka has made it easier to trade across borders by introducing and improving electronic submission and processing of documents for exports and imports.
 
Sri Lanka has made exporting and importing easier by developing a customs single window.
 
The Doing Business project, launched in 2002, looks at domestic small and medium-size companies and measures the regulations applying to them through their life cycle.

Doing Business captures several important dimensions of the regulatory environment as it applies to local firms.

It provides quantitative indicators on regulation for starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.
 
Doing Business also measures features of labor market regulation. Although Doing Business does not present rankings of economies on the labor market regulation indicators or include the topic in the aggregate distance to frontier score or ranking on the ease of doing business, it does present the data for these indicators.

The report has ranked No. 1 for the second consecutive year in the ‘Doing Business’ ranking.

 
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