ICTA official reveals President’s digital economy focus in budget address today

• ICTA Deputy Chief Digital Economy Officer Sachindra Samararatne says President Wickremesinghe will introduce key proposals for implementing DIGIECON concept in budget 2024

President Ranil Wickremesinghe is slated to introduce key proposals for implementing digital economy (DIGIECON) concept in the budget that will be presented to parliament today, a top official of Information and Communication Technology Agency (ICTA) of Sri Lanka said.
According to ICTA Deputy Chief Digital Economy Officer Sachindra Samararatne, this initiative aims to achieve a revenue of US$ 15 billion for Sri Lanka through digital economies by 2030.
The Prime Minister has instructed the Ministry of Technology to spearhead the establishment of the digital economy through extensive public and private partnerships, marking a significant first for Sri Lanka. 

Samararatne highlighted that the Minister of State for Technology Kanaka Herath has successfully engaged in discussions with various stakeholders and the resulting plan has been submitted to President Wickremesinghe.
These details were shared by Samararatne during his participation in the ‘101 Katha’ programme produced by the President’s Media Division.
He said the potential for digitisation to contribute up to 20 percent to the existing economy’s growth is substantial, promising significant economic improvement.

“Many nations have propelled their digital economies through budgetary allocations. To foster the export sector, investing in the digital economy is imperative. Over the past decade, our IT organisation has collaborated with the World Bank, leading to rapid growth in Sri Lanka’s information technology industry. 
Specific strategies are necessary and an institutional framework with budgetary support is crucial to implementing the digital economy policy. Sponsorship empowers both the government and private sectors, positioning Sri Lanka’s economy for strength and growth,” he said.
Currently, 4.3 percent of GDP is allocated to the digital economy. “Increasing this to 20 percent can robustly propel the digital economy forward,” Samararatne stressed.