Sri Lanka’s information and communications technology (ICT) sector has welcomed the government’s ‘bold’ move to establish the Digital Economy Ministry, calling it a crucial step towards achieving the digital economy strategy outlined for the country. 

The strategy aims to position Sri Lanka as a global digital hub and generate US $ 15 billion in economic value through digital initiatives by the end of the decade.

The Federation of Information Technology Industry Sri Lanka (FITIS) emphasised that this ambitious target highlights the government’s recognition of digital technology as a cornerstone of national development and a key driver of economic resilience in the 21st century.

The organisation expressed confidence that the creation of the ministry would enable Sri Lanka to seize the opportunities presented by the global digital revolution, fostering innovation, investment and inclusive growth. 

“The president’s decision to personally take on the role of Digital Economy Minister reflects his commitment to prioritising technology-driven development. This level of engagement at the highest level of government sends a powerful message about the importance of digital transformation in the nation’s overall growth strategy.

With a deputy minister in place to ensure operational efficiency and stakeholder engagement, the ministry is well-positioned to deliver on its objectives,” said FITIS Chairman Indika De Zoysa in a statement to the media.

The digital economy strategy outlines a clear road map for leveraging technology to drive economic growth and improve the quality of life for all Sri Lankans. Central to this vision is the US $ 15 billion target, which underscores the potential of the digital economy to create jobs, enhance productivity and attract foreign investment.

The FITIS emphasised that achieving this target would require a collaborative effort involving the government, private sector, academia and civil society. The organisation reiterated its commitment to supporting the ministry by offering strategic advice, facilitating partnerships and promoting Sri Lanka’s ICT capabilities on international platforms. 

Highlighting the global success stories the FITIS noted that countries such as Singapore, Estonia, and the UAE have demonstrated the transformative impact of dedicated digital ministries. 

By learning from these examples and tailoring strategies to local needs, Sri Lanka has the potential to emerge as a leader in digital innovation within the South Asian region, it added.

“With the right strategies, partnerships and investments, Sri Lanka is well-positioned to unlock the full potential of the digital economy, paving the way for a prosperous and inclusive future,” De Zoysa added.