Sri Lanka has slid from its earlier ranking at 85 to the current ranking of 99 in the World Bank’s ‘Doing Business’ index which categorises the most suitable countries to do business with.

In this index prepared including 189 countries, the World Bank has said that it takes around four years for judiciary to legally resolve issues within the commercial sector.

This report further states that companies in Sri Lanka need to utilize higher capital for the payment of taxes.

According to this index, Sri Lanka ranked 81 in 2013 but fell to 85 in 2014.

India is ranked 142 in the World Bank’s ‘Doing Business’ index while the No. 01 ranking is enjoyed by Singapore.

Second is New Zealand, third Hong Kong, fourth Denmark and the fifth South Korea.