Sri Lanka stays in place in Doing Business 2011 ranking

Nov 04, 2010 (LBO) – Sri Lanka was retained its place at 102 in a ranking of 183 countries for ease of doing business, by the World Bank group for 2011 though some of its neighbors made gains. Maldives moved up to 85th place from 96, Bangladesh moved up to 107 from 11, and India improved one place to 134.

Pakistan which was ranked higher at 83, fell back from last year’s 75, despite making a positive reform. Nepal fell to 116 from 111, Bhutan to 142 from 140 and Afghanistan 167 from 165.

Though Sri Lanka passed a new secured transaction law in 2009, it had not yet been implemented, the Doing Business in 2011 report by the World Bank and the International Finance Corporation, its private sector financing arm said.

Sri Lanka got a favourable mention in the cultural practice of women owning gold, which had also got them easy access to credit and having credit information systems,

Sri Lanka was also mentioned as having separate commercial courts, but contract enforcement still took a long time the report said.

Sri Lanka was among the slowest countries taking about 1,318 days to enforce a contract compared to 150 days for Singapore and 225 for Bhutan. Bhutan was al