{"id":11070,"date":"2021-07-22T10:39:25","date_gmt":"2021-07-22T10:39:25","guid":{"rendered":"http:\/\/globaltamilnews.net\/english\/?p=11070"},"modified":"2021-07-22T10:39:28","modified_gmt":"2021-07-22T10:39:28","slug":"u-s-cites-sl-a-challenging-place-for-businesses","status":"publish","type":"post","link":"https:\/\/globaltamilnews.net\/english\/u-s-cites-sl-a-challenging-place-for-businesses\/","title":{"rendered":"U.S. cites SL a challenging place for businesses"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The U. S.&nbsp; Department of States, in its 2021&nbsp; Investment Climate Statement, identifies Sri Lanka as a challenging place to do business, with high transaction costs aggravated by an unpredictable economic policy environment, inefficient delivery of government services, and opaque government procurement practices.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The statement, published on its website, says investors noted concerns over the potential for contract repudiation, cronyism, and de facto or de jure expropriation.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It says public sector corruption is a significant challenge for U.S. firms operating in Sri Lanka and a constraint on foreign investment.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWhile the country generally has adequate laws and regulations to combat corruption, enforcement is weak, inconsistent, and selective.&nbsp; U.S. stakeholders and potential investors expressed particular concern about corruption in large infrastructure projects and in government procurement.&nbsp; The government pledged to address these issues, but the COVID-19 response remains its primary concern.&nbsp; Historically, the main political parties do not pursue corruption cases against each other after gaining or losing political positions,\u201d the statement said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Courtesy: Daily Mirror<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The U. S.&nbsp; Department of States, in its 2021&nbsp; Investment Climate Statement, identifies Sri&hellip;<\/p>\n","protected":false},"author":3,"featured_media":11071,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-11070","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world-news"],"_links":{"self":[{"href":"https:\/\/globaltamilnews.net\/english\/wp-json\/wp\/v2\/posts\/11070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globaltamilnews.net\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globaltamilnews.net\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globaltamilnews.net\/english\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/globaltamilnews.net\/english\/wp-json\/wp\/v2\/comments?post=11070"}],"version-history":[{"count":1,"href":"https:\/\/globaltamilnews.net\/english\/wp-json\/wp\/v2\/posts\/11070\/revisions"}],"predecessor-version":[{"id":11072,"href":"https:\/\/globaltamilnews.net\/english\/wp-json\/wp\/v2\/posts\/11070\/revisions\/11072"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globaltamilnews.net\/english\/wp-json\/wp\/v2\/media\/11071"}],"wp:attachment":[{"href":"https:\/\/globaltamilnews.net\/english\/wp-json\/wp\/v2\/media?parent=11070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globaltamilnews.net\/english\/wp-json\/wp\/v2\/categories?post=11070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globaltamilnews.net\/english\/wp-json\/wp\/v2\/tags?post=11070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}