Millennium IT ESP gets Rs 2.2 billion Oracle contract for Sri Lanka Customs
EconomyNext: Sri Lanka’s cabinet has approved a proposal to award a contract worth Rs. 2,197.96 million, excluding taxes, to Millennium I.T.E.S.P. (Private) Limited for the supply and installation of an Oracle Exadata X11M system for Sri Lanka Customs, minister Nalinda Jayatissa said.
The decision follows an initial approval granted on August 21, 2024, to begin the procurement process to modernize Sri Lanka Customs’ technical infrastructure.
Bids were invited under the National Competitive Bidding (NCB) procedure, and three bids were received.
The proposal to award the contract to Millennium I.T.E.S.P. was presented by the President and received the recommendation of the Cabinet Procurement Committee.
OSL take:
Sri Lanka’s ongoing economic activities and overall economic expansion have resulted in the expansion of the country’s digital industry. With the country currently poised as an emerging business destination in the region with a target of becoming a hub in the South Asian region, the local digital industry has become one of the fastest growing sectors in Sri Lanka. The need to meet the increasing demand as well as the need to be on par with the fast-evolving global digital industry have expanded business/investment opportunities in Sri Lanka’s digital industry and related sectors. These opportunities have been further expanded by the ongoing digitization programme launched by the Sri Lankan government covering all sectors of the country. The growth and profits recorded by businesses already operating in Sri Lanka’s digital industry and the growing interest among foreign businesses to enter the industry while those already in the country are looking at further expanding operations, all indicate the increasing business potential in Sri Lanka’s digital industry and related sectors. Given these developments, foreign businesses/investors could explore the expanding opportunities in Sri Lanka’s digital industry as well as related sectors while also looking at entering the sector through partnerships and joint ventures with local businesses.
| Article Code : | VBS/AT/202603012/Z_1 |