Wednesday, 01 July 2020 13:57

Sri Lanka’s business confidence picks up with corporates back on track

Sri Lanka’s business confidence has picked up with local corporate sector planning to come back to doing business, Nielsen Holdings plc, an American information, data and measurement firm revealed.

The latest LMD-Nielsen Business Confidence Index (BCI) paints a more optimistic picture of local businesses than witnessed previously this year.
The BCI has begun to pick up for the first time in 2020, rising by seven basis points from the previous month to 96 in June.

According to Nielsen’s Director – Consumer Insights Therica Miyanadeniya, “optimism is on the rise once again and sentiment is positive as the country has opened up ahead of others in the region.

She said “the civilian population, businesses, and private and public enterprises are adjusting to a post-COVID life with many stringent measures put in place to curb a second wave of the pandemic.”

She adds: “Following more than three gruelling months of lockdown, life is gradually adjusting to a ‘new normal’; and companies, businesses and enterprises are picking up from where they left off to salvage what they can over the next half of the year.”

Moreover, she notes that “the resilience of the Sri Lankan people and businesses – who have weathered far more in the past amid a near 30 year civil war and more recently, the Easter Sunday bombings – is evident as they start to rise up like a phoenix from the ashes.”

 

(LIN)

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