World Bank keen to assist Sri Lanka develop Business Ready Index

The World Bank said that they are keen to assist Sri Lanka in developing its Business Ready Index and also provide technical assistance for research and State-Owned Enterprise (SOE) restructuring.

This was combated by Industries and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe who engaged in a discussion with World Bank Country Manager Gevorg Sargsyan on the issues faced by Sri Lankan industries. The Minister also updated the World Bank on the government’s strategic vision for industrial development, short-term goals and forms of assistance and guidance.

The minister also highlighted issues such as long-term development strategy, limited access to capital and raw materials and other issues that have hindered the growth of Sri Lankan industries for many years.

He also highlighted the need for the lack of anti-dumping policies to protect local industries. The World Bank delegates shared insights into their ongoing programs and areas where they could support these areas.

The World Bank team included Lead Economist Gregory Smith, IFC Senior Country Officer Victor Anthonypillai, and Amila Dahanayake.