World Bank Ratings on Business and the Enemy Within
Posted on September 12th, 2009

Prof. Hudson McLean

The recently published World Bank Rating on Doing Business-;

plunges Sri Lanka to a pathetic 105 position,ƒÆ’-¡ƒ”š‚  but better than India at 133 position, with Singapore as No:1, out of 183 listings.

On the bureaucracy and corruption, Sri Lanka might rate in the Top 10.

During the immediate recent past, several top cabinet Ministers have been hitting the Top Spots promoting inward investments and claiming success. Until the house is cleaned, one should notƒÆ’-¡ƒ”š‚  invite guests. These so claimed success stories are cobwebs and pie-in-the-sky dreams and a waste of tax-payers money.

Of course, when a government Minister delivers a presentation on investment opportunities to a selected overseas investor group, to a friendly audience, with a Sri Lankan Embassy sponsored cocktail party, naturally the guests politely say the right things, as a “Thank You” for the generosity.ƒÆ’-¡ƒ”š‚  This does not however turn into business. Just a Public Relations “Spin Doctors” justification for fees.

Any company or institution, prior to investment seeks an estimated cost of insurance cover on political, economic, environmental risks.ƒÆ’-¡ƒ”š‚  Once the Insurance Underwriters give their offers, under these bleak conditions, usually the investors back-down.

Now that the LTTE Terrorists have been eliminated, with a few potential terror threats by the remnants, Sri Lankan President has to face the other “terrorists or enemies within” Sri Lanka.

These are the local mafia who roam around the five start hotels seeking they prey on foreign businessmen, as can be confirmed with my personal experience.

Then the governmental bureaucracy bundled with corruption, would frighten off any foreign business inward investor.

Sri Lanka has all the right credentials to become one of the Top Ten locations for Global Business.ƒÆ’-¡ƒ”š‚  Only lacks proper clean, honest, dynamic leadership and direction in this front..

President should now, in the light of this World Bank ReportƒÆ’-¡ƒ”š‚  which received global coverage, appoint a Rajapaksa brother as Minister for Business Development under the Finance Ministry.

The logistics within Sri Lanka needs a good clean-up.

Currently the Rajapaksa name has credibility on honesty and management. This must be exploited to the maximum advantage where the President himself takes a global role as The Salesman and The Host.

Only a close confidant of the President can destroy the Enemy Within!

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