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Wednesday, December 21, 2011 - 5.16 GMT |
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Lanka’s new start-ups rise by 40% |
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Sri Lanka’s new start-ups have risen by 40.35%. Up-to September this year, 5993 new companies were incorporated under the 2007 Companies Act by the Department of Registrar of Companies.
According to the Minister of Industry and Commerce Rishad Bathiudeen, 24823 companies also have been re-registered by the end of September this year.
Sixty fifth budget of the Government has granted incentives for investment at all levels, specially since SMEs consist of more than 75% of Sri Lanka’s industries and enterprises, said the Minister. The Ministry has been successful in bringing Private Public Partnership model to the SME sector as well, he added.
According to the Department of Registrar of Companies, the newly incorporated companies in Sri Lanka have risen by 40.35% in Jan-Sept 2011. The total number of companies registered under the new Companies Act No 7 of 2007 as at 30th September 2011 is 5993 and it is an increase of 40.35% over the same period in 2010 which stood at 4270.
The total number of existing companies as at 30 September 2010 stood at 48961.
Meanwhile, the Re-registration Unit of the Registrar of Companies which was established in May 2007 with the introduction of the Companies Act No 7 of 2007 to facilitate the re-registration of firms has also completed the bulk of its work. Accordingly, 26202 applications were received by the Unit for re-registration while 24823 were registered with 1120 applications pending as of September 2011 end.
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