http://www.news.lk/index.php?option=com_content&task=view&id=16278&Itemid=44
Forbes Magazine ranks Sri Lanka ahead of China in the Best Countries for Business List
Tuesday, 14 September 2010
The prestigious Business and Investment guidance magazine has ranked Sri Lanka 83rd in the latest Forbes Best Countries for Business list, ahead of China at 90, Pakistan at 92 and Bangladesh at 109. In its fifth annual rankings, Forbes magazine has categorized 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 that as the world emerges from a recession, the US lost ground as a business-friendly locale, dropping from No. 2 to No. 9 in the annual ranking. Denmark tops the list, followed by Hong Kong in second place, New Zealand in third, Canada in fourth and Singapore in fifth place. 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. The Hong Kong economy has bounced back more quickly than others as it established closer ties to China through tourism, trade and financial links. Ireland, Sweden, Norway, United States and the United Kingdom make up the rest of the top 10, in descending order. Japan is ranked 27th followed by Mauritius.Meanwhile, in a ranking on competitiveness by the World Economic Forum, Sri Lanka moved up 17 places this year to 62 from 79, but India was still ahead at 51 down from 49. Bangladesh was 107, down from 106 and Pakistan 123 down 101. (niz)
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