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Monday, 16 April 2012 - 13:39
ADB says private investment has not risen
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The Asian Development bank has said that private investment in post-war Sri Lanka has not risen as anticipated because it still lacks a "predictable policy environment" which creates uncertainties for businesses.

The outlook is for moderate but still strong growth in Sri Lanka in 2012, the bank forecasts in its Asian Development Outlook report released last week.

The report said that while the government has been trying to reduce bottlenecks to growth not enough has been done to cut red tape.

Although Sri Lanka’s position in the World Bank’s Doing Business index has improved in 2012 to 89 out of 183 countries from 98 in 2011, some "challenges" still deter private investment, especially paying taxes.

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