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Sri Lanka and Singapore discuss digital partnership

Sri Lanka and Singapore discuss digital partnership

Daily FT: The Sri Lankan High Commissioner to Singapore Senarath Dissanayake met Singapore Communications and Information Minister Josephine Teo on 1 July and exchanged views on shared common interests on the digital front, including AI.
The High Commissioner briefed the Minister on the recent Fintech delegation visit to Sri Lanka to explore possible collaborative opportunities in digital public infrastructure and the proposed visit by the Press Club of Singapore. He thanked the Minister for the support extended by AI Singapore and stressed the importance of fostering cooperation in the field of communication and technology between Sri Lanka and Singapore.
Referring to Singapore’s regional cyber security efforts through the ASEAN-Singapore Cybersecurity Centre of Excellence (ASCCE), Dissanayake sought the possibility of Sri Lanka obtaining technical assistance from the ASCCE.
Teo agreed to explore the possibilities of extending support through ASCCE and suggested potential collaboration with the Singapore Cyber Agency (CSA) and the Infocomm Media Development Authority (IMDA) for cyber security and the digital transformation efforts of Sri Lanka and possible capacity building.

OSL take:
Sri Lanka’s ongoing economic activities and the overall economic expansion that are aimed at achieving regional hub status have opened up a host of business/investment opportunities. All these activities have resulted in the expansion of Sri Lanka’s ICT and digital infrastructure development sectors. With Sri Lanka’s growing business potential and the expanding business/investment opportunities, foreign businesses/investors could confidently explore the opportunities in the ICT and digital infrastructure development sectors. The local businesses engaged in these sectors have recorded impressive growth and profits, indicating the lucrative nature of businesses in ICT and digital infrastructure development sectors. Given the digital expansion in all sectors in Sri Lanka in line with the Sri Lankan government’s commitment to transform the country into an e-economy, there’s ample opportunities for foreign businesses/investors in Sri Lanka. The possible collaboration between Sri Lanka and Singapore on the digital sector could also add to Sri Lanka’s opportunities in the ICT and digital infrastructure development sectors. Foreign businesses/investors, apart from exploring direct opportunities, could also look at forming partnerships or joint ventures with local businesses engaged in ICT and digital infrastructure development sectors to expand operations.

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