Maldives easiest place to do business in South Asia, Sri Lanka trails in fourth place

Sept 06 (LBO) – The coral atoll of Maldives was the easiest place to do business in South Asia, followed by Pakistan and Bangladesh, while Sri Lanka trailed at fourth place, in a ranking by the World Bank.

Maldive Islands earned first place in four out of ten topics the Bank had used to measure how easy it was to do business.

It scored first in ‘dealing with licenses’, ‘employing workers’, ‘paying taxes’ and ‘trading across borders’, while Afghanistan was ranked first in ‘starting a business’, Bangladesh in ‘getting credit’ and ‘protecting investors’.

Sri Lanka ranked fourth overall in South Asia ahead of Nepal, India, Bhutan and Afghanistan and failed to make top place in any of the ten topics.

However Sri Lanka earned second place in ‘closing a business.’

In global rankings Singapore earned the top slot, followed by New Zealand United States, Canada and Hong Kong/China.

The World Bank said in many countries doing business had become easier compared with last year.

Two hundred and thirteen regulatory reforms—in 112 economies— reduced the time, cost, and hassle for businesse