Sri Lanka’s IT sector presented with many business opportunities by Covid 19

Sri Lanka’s IT sector presented with many business opportunities by Covid 19

The challenges posed by the global Covid 19 pandemic along with the pace of the ageing population in  Sri Lanka has reportedly created  a massive digitization in the healthcare sector while opening up more business opportunities.

“This is a massive opportunity that Sri Lankan IT companies need to tap into. We’ve the capacity to do it. But the point is to get those initial contracts as these contracts are difficult to get due to the high level of compliance that goes into health documentation,” Imran Furkan ,CEO -Tresync Australia IT/BPO Expertise has been quoted as saying.

He has made this observation while addressing a Webinar on ‘Market Enhancement for Sri Lankan Products and Services in Australia,’ organised by Sri Lanka’s Export Development Board (EDB).

As for opportunities available for Sri Lankan entrepreneurs and investors to engage in trade in Australia, Furkan has been quoted as saying, “I’m happy to see the Information and Communication Technology Agency of Sri Lanka coming up with a Data Protection Act which will give a lot of comfort to players to come into Sri Lanka because data that is being transferred from Australia to Sri Lanka will meet high standards.”

“Another opportunity is in the open banking sector. Australia has decided to roll out the open banking regime this year and it is the system of allowing the consumer to get the control of their data. Usually, consumer data is with the bank or financial service provider or the Telecom Company and they don’t allow you to take your data to shop around. With the open banking regime, the bank will give the consumer the opportunity to shop around with different banks, financial institutions or Telecom companies,” Furkan has added.

OSL take:

The global Covid 19 pandemic has opened up many business opportunities in the fields of ICT and digital infrastructure development the world over, including Sri Lanka. The government of Sri Lanka is committed to transforming the country in to an e-economy thereby creating new business/investment opportunities in ICT and digital infrastructure development sectors. Business/investment opportunities in these sectors have been further expanded with the island becoming a business hub in the South Asian region through its geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by the country. 

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Article Code : VBS/AT/19112020/Z_1

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