Why Sri Lanka should be ready for “B-READY”

IN 2024, the global approach to measuring business climate saw a major transformation. The World Bank Group introduced the Business Ready (B-READY) Index, its new flagship report aimed at assessing the business and investment environment across countries.

- By Saumya Amarasiriwardane

This index replaces the discontinued Ease of Doing Business (EoDB) report and brings with it a more robust, implementation-focused, and reform-oriented methodology. While the inaugural edition of the BREADY Index covered 50 countries, Sri Lanka was not included. However, the World Bank has indicated its intention to expand the coverage globally by 2026. This gives Sri Lanka a valuable window of opportunity to get ready and initiate key reforms.

What is the B-READY Index?

The B-READY Index is built around three core pillars: Regulatory Framework, Public Services, and Operational Efficiency. These pillars are assessed through ten core thematic areas; business entry, business location, utility services, labour, financial services, international trade, taxation, dispute resolution, market competition, and business insolvency. In addition to these core topics, the index incorporates three crosscutting themes digital adoption, environmental sustainability, and gender equity, which are integrated throughout the assessment process. One of the most significant advancements in this index is its methodology: it combines statutory (de jure) legal and regulatory analysis with practical (de facto) firm-level survey data. This approach ensures that both the letter of the law and its real-world implementation are evaluated.