ICT industry targets US$ 1b in exports this year
Sri Lanka’s ICT industry is expected to reach US $ 1 billion in
exports this year.
The sector’s contribution has significantly increased recording a 123
percent growth over the past five years.
The country has launched an ICT value survey to find out the national
hi-tech exports it achieved in 2013-14.
“We have recognised the ICT industry to be a key player in our
exports. We are looking at $1 billion in exports this year,” said
Industry and Commerce Minister Rishad Bathiudeen.
The Sri Lanka Export Development Board (EDB) has embarked on a survey
of ICT and BPM exports for the third time.
It is expected to demonstrate the progress made by the industry and
to highlight its growing significance as a top export revenue generator
for Sri Lanka.
While focusing on the capacity available for the industry, the survey
also concentrates on global markets. The survey is being conducted with
EDB Chairman and Chief Executive Bandula Egodage said, “To evaluate
the progress of ICT and BPM exports, we need to continuously measure its
growth and contribution to the economy. This survey will be instrumental
in facilitating the industry to reach its highest potential.
The results of the survey will be useful to assess the status of the
industry in relation to its competitors and be the basis for Government
policy decisions in the future regarding the ICT industry”.
During the past five years, Sri Lanka’s global brand position
improved significantly. AT Kearney ranked Sri Lanka among the top 25
destinations in its global ranking in the past three consecutive
Gartner ranked Sri Lanka among its top 30 global locations. IBM and
Tholons ranked Sri Lanka at the top of their leader boards.Receiving the
'Outsourcing Destination of the Year' award from the National
Outsourcing Association (NOA), UK twice in a row, was a validation of
the tremendous progress that Sri Lanka has achieved.
Sri Lanka’s competitive advantage as a destination for doing business
in the ICT and BPM sector is built around agility, cost, a niche talent
base, ethics, cultural adaptability and superior quality of life.
On the BPM front, it continues to build on finance and accounting as
its primary global niche. On the IT front, the competitive position on
product engineering is now becoming a formidable advantage with many
local companies having ownership of reputable software products. In
2013, Sri Lanka ICT export revenue stood at $ 719 million. The London
Stock Exchange and HSBC are among the recipients of Lankan ICT support.
Sri Lanka’s IT and BPM sector's 'Vision 2022' is to earn $5 billion in
revenue, with 200,000 direct jobs and 1,000 start-ups.