Enhancing Competitiveness in Sri Lanka World Bank Group 2016-08-24T18:12:29Z 2016-08-24T18:12:29Z 2016-06
dc.description.abstract Sri Lanka needs to address new challenges if it is to sustain its strong record of economic growth and poverty reduction. The country has in many respects been a development success story, with average growth exceeding 6 percent and a threefold decline in poverty using the national poverty line over the past 10 years. However, low productivity, high reliance on non-tradable sectors and a stale export basket highlight the need to enhance private sector competitiveness as a way to create one million new jobs. The Government of Sri Lanka (GoSL) has recognized the need to adopt a policy agenda that strengthens the competitiveness of the country’s private sector in order to achieve inclusive and sustainable growth. The new Government has emphasized the need to realize Sri Lanka’s trade potential as a way to accelerate the transformation of the economy and generate new and more attractive opportunities for Sri Lanka’s labor force.Unleashing the competitiveness potential of Sri Lankan enterprises will require addressing a wide range of factors. this note focuses on opportunities to improve areas directly impacting the competitiveness of the private sector, including streamlining the regulations governing the activities of the private sector to reduce the cost of doing business; strengthening trade policies to eliminate biases against exports; enhancing trade facilitation to reduce the costs and time it takes to export; enhancing the ability of the country to attract, retain and integrate FDI; enhancing innovation and entrepreneurship and strengthening accessibility to financial services. It is important to note, that there are small islands of Research and Development (R&D) progress in Sri Lanka. Going forward, as Sri Lanka aspires to become a higher middle income economy driven by higher addedvalue exports, major reforms will be required in its investment climate; investment, innovation andtrade policies and the efficiency of the institutions governing the activities of domestic and foreign firms.This note summarizes the main findings of this work and outlines options forimplementation of reforms needed. en
dc.language English
dc.language.iso en_US
dc.publisher World Bank, Washington, DC
dc.rights CC BY 3.0 IGO
dc.rights.holder World Bank
dc.subject competitiveness
dc.subject investment climate
dc.subject trade policy
dc.subject trade facilitation
dc.subject FDI
dc.subject entrepreneuership
dc.title Enhancing Competitiveness in Sri Lanka en
dc.type Report en
dc.type Rapport fr
dc.type Informe es
dspace.entity.type Publication
okr.crossref.title Enhancing Competitiveness in Sri Lanka 2016-07-19
okr.doctype Economic & Sector Work :: Private Sector Development, Privatization, and Industrial Policy
okr.doctype Economic & Sector Work
okr.identifier.doi 10.1596/24927
okr.identifier.externaldocumentum 090224b084413ab5_1_0
okr.identifier.internaldocumentum 26535399 106889
okr.imported true
okr.language.supported en
okr.pdfurl en
okr.region.administrative South Asia Sri Lanka
okr.sector Finance :: SME Finance
okr.sector Industry and trade
okr.theme Financial and private sector development :: Micro, Small and Medium Enterprise support
okr.theme Financial and private sector development :: Regulation and competition policy
okr.topic International Economics and Trade :: Foreign Direct Investment
okr.topic International Economics and Trade :: Trade Facilitation
okr.topic Private Sector Development :: Business Environment
okr.topic Private Sector Development :: Competitiveness and Competition Policy
okr.topic Private Sector Development :: Small and Medium Size Enterprises
okr.unit T&C GP-South Asia - IBRD (GTC06)
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