Digitalisation, SME support highlighted in pre-budget talks with banking sector
The Morning: A pre-budget discussion on the banking, finance and insurance sector was held at the Presidential Secretariat, chaired by Labour Minister and Economic Development Deputy Minister Dr. Anil Jayantha Fernando, according to the President’s Media Division (PMD).
The discussions focused extensively on the support that the banking sector can provide to the government’s programme, led by the President, to achieve the country’s economic growth targets.
Special emphasis was placed on enhancing efficiency in the banking and financial sector through digitalisation, expanding programmes targeting small and medium-sized enterprises and introducing new insurance schemes.
Labour Minister Fernando noted that these proposals will receive due consideration in the upcoming budget, the PMD said.
It was further highlighted that this was the first time stakeholders from the insurance sector had been invited to a pre-budget discussion and the participants expressed their appreciation to the government for extending the invitation.
Senior Presidential Advisor on Economic Affairs Duminda Hulangamuwa, Sri Lanka Export Development Board Chairperson Mangala Wijesinghe, officials from the Ministry of Finance and several senior officials representing the banking, finance and insurance sector also took part in the discussion.
OSL take:
Sri Lanka’s ongoing economic expansion has resulted in the country launching an ambitious digitalization drive covering all sectors in a bid to pave the way for an e-economy. The Sri Lankan government’s commitment to the digitalization programme is evident by the move to include it in the upcoming 2026 budget presentation. The expanding digital industry and related sectors in Sri Lanka have created many business/investment opportunities. With Sri Lanka working towards becoming a hub in the South Asian region, it is important for Sri Lanka to be on par with the fast-evolving global trends in the digital industry to meet the increased demand. Businesses/investors already engaged in the country’s digital industry and related sectors like ICT and digital infrastructure development have posted impressive growth, profits and expansion indicating the increasing business potential in Sri Lanka’s digital industry. Given all these positive factors and the steadily growing business potential, foreign businesses/investors could confidently explore the business/investment opportunities in Sri Lanka’s digital industry and related sectors.
| Article Code : | VBS/AT/20250924/Z_1 |