Sri Lankan government to take measures to convert Sri Lanka into a technology hub
The Sri Lankan government has reportedly expressed its intentions of rolling out a series of measures to convert Sri Lanka into a technology hub to foster entrepreneurship and improve ecosystems for startups and tech enterprises.
The government has also called on the corporate sector to use Blockchain, Artificial Intelligence (AI), drone technology and analytics to move the country’s economy up the value chain.
Addressing the inauguration of Blockchain Sri Lanka 2018 organised by Business Process Outsourcing Services (BPOS) Sri Lanka, Telecommunication, Digital Infrastructure and Foreign Employment Minister Harin Fernando has reportedly called on industry stakeholders to exploit this opportunity to help transform the country through information technology and digital innovation.
“Our President, Prime Minister, Finance Minister and my ministry are undertaking a series of measures to move our economy up the value chain, enable industries to diversify and make Sri Lanka a technology hub,” he has been quoted as saying at the forum.
Pointing out that the government had laid the foundation to encourage the economy, the Minister has called on all companies to explore providing high-end IT solutions across multiple industries and verticals such as banking, finance, telecommunication, manufacturing, agriculture, healthcare, trade and commerce, shipping and logistics, ports and airports, transport and hospitality in Sri Lanka.
Fernando has expressed his confidence in the corporate sector on continuing with the growing of its footprint in Sri Lanka and would create attractive job opportunities while inspiring and engaging young Sri Lankans with a passion to innovate and develop new technologies, particularly Blockchain.
“Banks and finance companies must give a very high priority to take Sri Lanka up to speed with robust Blockchain development. Many of the bankers here benefit from creative computer systems at multiple locations, but this time around it’s different. It’s not about corporates and governments but about communities and societies. It is about peer to peer, the ability to be omnipresent and not decentralised. This I believe is the birth of Blockchain,” the Minister has added.
He has further noted that moving up the value chain and embracing technology and innovation was an absolute necessity even for traditional exports like garments, tea, coconut and rubber, if Sri Lanka’s GDP was to grow at 8%-10%.
OSL take:
The Sri Lankan government has placed much attention in the development of the ICT and digital infrastructure sector of the country. The statement by the minister in charge of digital infrastructure is an assurance for foreign companies engaged in the field to explore opportunities in Sri Lanka. The Sri Lankan government is also looking at achieving a target of earning US$ 5 billion revenue from IT exports by 2020 and is in the process of promoting e-economy. Hence Sri Lanka’s IT and digital sectors are hotbeds for foreign investments.
| Article Code : | VBS/AT/20181002/Z_1 |