Sri Lankan government pushes for cashless economy, digital IDs
The Morning: The Government is moving ahead with plans to promote a cashless economy and complete key digitisation initiatives, including the rollout of a digital national identity card, following a high-level review meeting held recently at the Presidential Secretariat.
The meeting reviewed the progress of projects implemented under the Ministry of Digital Economy in last year (2025) and examined new initiatives proposed under the 2026 Budget allocations. The discussion was chaired by President Anura Kumara Dissanayake in his capacity as Minister of Digital Economy, according to a statement issued by the President’s Media Division.
Special attention was given to programmes aimed at advancing a cashless economy. Officials reviewed the status of ongoing initiatives, including the digitalisation of Government institutions, expansion of QR-based payment transactions, establishment of a cloud infrastructure centre, a national high-speed broadband programme, introduction of single-window service facilities, the digital identity card project, and the digitalisation of traffic spot fine payments.
During the meeting, the President noted that a large share of economic activity in rural areas continues to operate within the informal sector. He stressed the need to formally document such activities, underscoring their importance for effective economic planning and future development strategies.
The performance, progress, and future plans of institutions operating under the Ministry of Digital Economy, including Sri Lanka CERT, the Data Protection Authority, and the Telecommunications Regulatory Commission, were also reviewed.
OSL take:
Sri Lanka’s ongoing digitization drive covering all sectors of the country with the aim of transforming Sri Lanka into a digital economy, has presented many business/investment opportunities. With Sri Lanka positioned in the South Asian region as an emerging business destination, the country needs to present foreign businesses/investors with the necessary digital infrastructure while also being on par with the fast-evolving global digital industry. All these developments have presented business/investment opportunities in the country’s digital industry and related sectors as well as open opportunities for foreign businesses/investors to expand operations in Sri Lanka through partnerships or joint ventures with local businesses already engaged in the industry and related sectors. The growing business potential in Sri Lanka’s digital industry and related sectors is evident by the profits recorded by businesses in the industry and the increasing interest among foreign businesses/investors to enter the sector.
| Article Code : | VBS/AT/20260123/Z_3 |