Sri Lanka 83rd in Forbes best countries for business list

Sept 13, 2010 (LBO) – Sri Lanka has been ranked 83rd in the latest Forbes Best Countries for Business list, behind India which was placed 77th but ahead of Pakistan at 92 and Bangladesh at 109. Denmark tops the list, followed by Hong Kong in second place, New Zealand in third, Canada in fourth and Singapore in fifth place.

In its fifth annual rankings, Forbes magazine categorized the 128 nations of the world on the basis of property rights, technology, corruption, personal freedom, red tape, investor protection and stock market performance.

The magazine said a big mover up the rankings is Hong Kong, which swapped places with the US, moving up to No. 2 from No. 9.

It scored in the top three for taxes, investor protection and both trade and monetary freedom.

The Hong Kong economy has bounced back more quickly than others as it established closer ties to China through tourism, trade and financial links. China is ranked 90th.

Ireland, Sweden, Norway, United States and the United Kingdom make up the rest of the top 10, in descending order.

The magazine said that as the world emerges from a recession, the US lost ground as a business-friendly locale, dropping from N