Sri Lankan government commences work on country’s digital economy strategy

Sri Lankan government commences work on country’s digital economy strategy

The Sri Lankan Prime Minister’s Policy Development Office has stated that work on the country’s digital economy strategy has begun with input from world-renowned consultancy firm McKinsey.
The inception report by McKinsey was presented at a meeting of the steering committee held on January 4th and it was decided that the diagnostics phase of the assignment would commence by 15 January and last a period of two weeks.
According to reports, this will be followed by a five-week design phase, during which the relevant programmes and projects are expected to be identified and prepared for launch by early April 2018.
McKinsey & Company, while presenting their inception report, confirmed that the proposed Digital Economy for Sri Lanka could uplift the country’s GDP by 1%-3% in 2019.
The Policy Development Office has reportedly stated that in mid-December 2017 the Ministry of Telecommunication and Digital Infrastructure, with the support of McKinsey & Company, embarked on the process of developing Sri Lanka’s Digital Economy strategy.
This initiative is expected to enable Sri Lanka to scientifically identify appropriate opportunities for promoting Sri Lanka’s Digital Economy and the key enablers to promote the Digital Economy as well as initiate three flagship programs that will promote Sri Lanka’s Digital Economy strategy.
The current consultancy with McKinsey & Company is a short-term 11-week assignment which will be conducted in three phases.
This initiative is to strategise the promotion of the Digital Economy through the lens of three economic development thrust sectors, namely the agriculture sector, tourism sector and the manufacturing sector.

OSL take:

The Sri Lankan government’s latest initiative is expected to result in the development of the sectors identified above with at least one flagship programme to support the initial stage of Sri Lanka’s Digital Economy strategy. The government’s move to develop Sri Lanka’s digital economy while increasing the ease of doing business in the country would also open up a host of new investment opportunities in the island nation.

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Article Code : VBS/AT/20180110/Z_5

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