If you want to work and spend all the money that you earn you will never be rich. If you're going to get rich, if you're going to make money while you are working, you need to invest. But it's always a difficult decision to make where one can invest. This article aims to make your life easier and help you with making a decision about the investment. Sri Lanka is a land of opportunities. Those who want to change their fortune Sri Lanka is the best country in South Asia to invest. 20.97 million people call it their home. With an annual GDP of $237.791 billion. Sri Lanka has managed to maintain a stable yearly GDP growth of 6.4 percent over the last decade. It has performed better than the rest of South Asian countries in any consideration.
The reasons for which one should invest in Sri Lanka are given below:
Expanding Economy
Sri Lanka is considered as a lower, middle-income country. A country which economy is rapidly changing and always expanding. The country has started focusing on the manufacturing and service sectors. Before it’s happened to be an Agro-based economy. There are a lot of business opportunities in Sri Lanka. There are many sectors that are booming in Sri Lanka. The peaceful domestic environment and favorable govt. policies helped the economy to grow. The Sri Lankan govt. also reformed tax law from which the companies are sure to benefit. The government also plans to make the country a maritime hub, a knowledge hub and an aviation hub in South Asia. The Govt. of Sri Lanka is sincerely working to implement it. All these development plans will help to boost the economy.
Business Environment
The business climate in Sri Lanka has improved a lot in recent times. Sri Lanka is in the list of top seventy countries in Ease of Doing Business index as per the World Bank. In terms of competitiveness, Sri Lanka holds the 20th position in the world ranking. The govt. has also started necessary regulatory reforms. It will also help to improve the business climate in Sri Lanka. Sri Lanka also has updated laws to protect the interest of foreign companies.
Logistics
Sri Lanka is located in a strategic position. Due to its strategic location, Sri Lanka has received a multi-million-dollar investment from China. Using its location Sri Lanka is working to become a regional trading and navigational hub. Colombo seaport holds the number one position in South Asia. It is in the twenty-sixth position in the world. Sri Lanka has a free trade agreement with many neighboring countries. It gives the companies essential trade access to a huge market. The country has been working to develop infrastructure to support business.
Power and Telecommunications
Sri Lankan govt. understands that power is key to any development. It is working to improve Power supply in the country. It has also agreed to shift to a hundred percent renewable electricity production within 2050. Sri Lanka has improved in IT and telecommunication as well.
Conclusion
All in all, Sri Lanka has a very skilled and educated workforce. The literacy rate in Sri Lanka is 96%, which is the highest in South Asia. Considering all these things, it will be wise to invest in Sri Lanka.
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