Sri Lankan government to implement National Digital Economy Strategy this year
Sri Lanka’s Telecommunication, Foreign Employment and Sports Minister Harin Fernando has reportedly stated that the much-awaited National Digital Economy Strategy will be implemented before the end of the first half of the year.
“Sri Lanka signed up with McKenzie’s for a national digital transformation strategy and they have done a paper. We are hoping to roll it out in the middle of this year. After the Budget is passed, this will unfold,” Fernando has been quoted as saying at the Huawei Lanka ICT and Carrier Congress 2019 in Colombo.
The strategy was developed by popular global consulting firm McKenzie and Company, and the initiative is spearheaded by the Ministries of Digital Infrastructure, Telecommunication and Development Strategies and International Trade.
According to McKinsey, the proposed Digital Economy Strategy for Sri Lanka could uplift the country’s GDP by 1-3% in 2019.
According to reports, the strategy was originally expected to be ready by April 2018, but was pushed back for various reasons given the need to consult and coordinate with different Ministries and State agencies.
The strategy will 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 would promote the new policy thrust, local media reports have stated.
“The digital economy will transform the manufacturing, tourism and the agriculture sector. As mapped out in the National Export Strategy (NES) by 2022 the country is expected to reach $5 billion revenue from the ICT industry,” the Minister has observed.
Fernando has stated that the Government’s flagship programme, Enterprise Sri Lanka, also provides loan facilities to young entrepreneurs, start-ups as qualified ICT companies to enable and support them to be part of country’s digital economic drive.
The Minister has further noted that Sri Lanka Telecom (SLT) has also embarked on a number of initiatives, which will be implemented on a fast tracked manner in the next couple of months.
“Government has done the hard work in connecting the entire country with a huge highway underground with 100MBPS connectivity and if people don’t know how to use it, we are going to lose out. I hope the Government officials change their mind-sets and move in the digitalised economic direction, so that Sri Lanka can soon be a very IT savvy nation,” the Minister has added.
OSL take:
The government of Sri Lanka has given prominence to the development of digital infrastructure. The promotion of a digital economy is part of it. The statement made by the Minister on launching a National Digital Economy Strategy indicates the growing business/investment opportunities in Sri Lanka’s ICT sector.
| Article Code : | VBS/AT/27032019/Z_2 |