Adding a fresh feather to Sri Lanka’s cap of improving the climate and Ease of Doing Business, the country has moved up in the prestigious Forbes magazine’s list of Best Countries for business.
In the latest list, Sri Lanka is ranked 79, four notches up from 83rd position previous year.
The latest accolade comes soon after IFC-World Bank annual Ease of Doing Business Index placed Sri Lanka as among world’s ten most improved nations.
Sri Lanka claimed South Asia’s highest spot in the global ease of doing business ranking, at 81 out of 185 economies.
Forbes determined the Best Countries for Business by grading 141 nations on 11 different factors: property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance.
Forbes leaned on research and published reports from the following organisations: the Central Intelligence Agency, Freedom House, Heritage Foundation, Property Rights Alliance, Transparency International, World Bank, and World Economic Forum.
New Zealand ranks first on our list of the Best Countries for Business, up from No. 2 last year, thanks to a transparent and stable business climate that encourages entrepreneurship.