Sri Lanka to launch Rs. 563 million GovTech marketplace to centralize digital procurement
EconomyNext: Sri Lanka Cabinet of Ministers have approved a proposal to implement the GovTech App/Service Marketplace project in three phases during 2026-2027 at an estimated cost of Rs. 563 million, minister Vijitha Herath said.
A centralized GovTech marketplace aims to streamline digital procurement and eliminate fragmented spending across state agencies, he told reporters.
Currently, Sri Lankan state institutions often procure technology solutions individually.
Herath, who also oversees Foreign Affairs, Foreign Employment, and Tourism, noted that this lack of a centralized system has led to transparency issues and an inefficient procurement process.
The new marketplace is designed to act as a “one-stop-shop,” allowing government bodies to select quality, cost-effective digital products from a unified location, he said.
“It is expected to introduce a merit-based system for selecting digital products and services,” the cabinet paper noted, adding that the platform will provide access to state contracts for a wider range of suppliers, including Small and Medium Enterprises (SMEs).
OSL take:
Sri Lanka’s digital industry has become a hotspot for business/investment opportunities given the government’s commitment to transforming the country into a digital economy. The Sri Lankan government has already launched an aggressive digitization drive covering all sectors as part of the programme to create a digital economy. With Sri Lanka’s ongoing economic activities and target of becoming a hub in the South Asian region, the country needs to meet the increasing demand while also being on par with the fast-evolving global digital industry. These developments have resulted in businesses already engaged in the digital industry and related sectors recording growth, profits and are also engaged in expansion programmes. The growth and business potential of Sri Lanka’s digital industry and related sectors are further evident by the increasing interest among foreign businesses/investors to enter the industry. Foreign businesses/investors could therefore confidently explore the expanding business/investment opportunities in Sri Lanka’s digital industry while also looking at engaging in the industry through local collaborations.
| Article Code : | VBS/AT/20260410/Z_3 |