Financial News from Sri Lanka: With Sri Lanka on the cusp of establishing a digitally empowered country and knowledge economy, the Information and Communication Technology Agency (ICTA), Sri Lanka’s apex government agency for ICT under the ministry’s authority and management of Ajith P. Perera, Minister of Digital Infrastructure and Information Technology, continues to harness exponential technological channels effectively.
The fourth edition of the ICTA-organized Disrupt Asia Conference and Innovation Festival, planned for 12 October, will provide an optimal platform for exchanging best practices and thoughts across the entire innovation and startup ecosystem. Disrupt Asia 2019 not only features start-ups talking about their thoughts, products, and services, but also reinforces their efforts by leading young entrepreneurs, providing them with useful instruments, and placing them in contact with experienced partners and mentors who will help their growth.
“As technology is the main driver of disruptive change and has proven to be a game-changer, our goal is to guarantee that Sri Lanka can optimize emerging digital possibilities through progressive policies and innovation by developing a vibrant economy and digital society for the advantage of all through government and private sector policies and innovation.” Digital Infrastructure and Information Technology Minister Perera said.
Disruption Asia has continued to concentrate on fresh technologies, innovation, and talent for successive years with the objective of mapping and strengthening the local startup ecosystem.
The Conference also coincides with another project of the Ministry, the declared’ ICT and Innovation Week’ from October 7-14. The proceedings, organized by the Ministry, strive to push Sri Lanka through technology towards a digitally empowered society and rapidly monitor socio-economic development.
Over the years, the Ministry’s involvement in offering start-up incentives and ICTA-led support has been instrumental in establishing an innovative entrepreneurial ecosystem that attracts both talent and intelligent capital to increase promising fresh services and products.
With Central Bank reports showing that export revenues for telecommunications, computers and data services have risen to $995 million in 2018 and the knowledge services industry in Sri Lanka is set to expand to $5 billion in annual export income by 2022, attaining this goal will lead to an increase in the value chain, fresh players emerging and the development of the IT workforce.
Minister Perera said, “Through its contributions to the export industry, the ICT industry is rising to be one of the pillars of the Sri Lankan economy and becoming one of the main stakeholders in the Sri Lankan economy.” The Ministry of Digital Infrastructure and Information Technology continues to develop the country towards an IT revolution and a fresh digital economy
“To accelerate digital-based economic growth, our approach involves a structure for digitizing the economy’s key areas, accelerating development and improving digital industries, and constructing the necessary digital infrastructure,” Minister Perera noted.