Sri Lanka has made significant progress going by international criteria on poverty alleviation, Chairman and Managing Director of the Sovereign Rating Committee, Standard and Poorís Sovereign Rating Mission John Chambers said. He is also impressed by the countryís development, and facilities provided to investors.
He made these observations when met with Economic Development Minister Basil Rajapaksa at the Ministry office. The minister briefed the visitors on the countryís achievements since the end of the war.
Among the targets reached according to the minister are self-sufficient in rice, sorghum, cowpea and other food products. This has made it possible to minimize imports of such items to a minimum, he said.
Minister Basil Rajapaksa also drew attention of the delegation to the progress made in the fishing industry and the improved facilities those in the industry have been provided with, strengthening local government institutions for strengthening infrastructure in the provinces, improving rural roads, highways and the construction of expressways, progress made in supply of electricity to rural areas, improving health care, encouraging environmental-friendly industries, reducing pollution through recycling, improving primary and secondary education to meet current requirements, reconstruction and development work in the North and East, resettlement of displaced persons, demining operations, work on the railway lines linking North and East with the South, repairing the Kankesanthurai Harbour and progress made in the areas of agriculture and irrigation.
The Economic Development Minister also cited the tourism industryís development and the progress made in non-traditional exports and services.
Director of the Sovereign and IPF Ratings Takahira Ogawa was among those who attended the discussion.
This year Sri Lanka earned the 81st place in the World Bank and International Monetary Fundís grading of countries on facilitating business ventures. This is a significant improvement in comparison to last year when it was 15 levels below the present status. This is the first time a South Asian country has acquired such a status in international grading, states the Ministry of Economic Development.
Data provided by different organizations, including the Central Bank, Government Departments, Ministries, the World Bank, the IMF and the private sector are taken into account in this grading, the Ministry further said.