Sri Lanka’s ICT export sector revenue to hit US $ 1 bn in 2015: Minister

Mar 20, 2015 (LBO) – Sri Lanka’s ICT exports are projected to top one billion US dollars this year while the sector has grown at 123 per cent in the last five years, Minister of Industry and Commerce said.

“Sri Lanka has launched an ICT value survey to find the national hi-tech exports it achieved in 2013/14.” the minister said in a statement.
“All the ICT exporters are encouraged to actively take part in it.”

“We have recognized the ICT industry to be a key player in our exports. We a looking for US $ one billion in exports this year.”

In 2013 the islands ICT export revenues were 719 million US dollars and the sector reported a growth of 123 per cent over the last five years.

The London Stock Exchange and HSBC are among recipients of country’s ICT support.

The minister’s statement says, Sri Lanka’s IT/BPM sector vision 2022 is to earn five billion US dollars in revenues while also creating 200,000 direct jobs and 1000 start-ups.

During the last five years the islands global brand position improved significantly with AT Kearney ranking Sri Lanka among the top 25 destinations in their global ranking in the last three consecutive rankings.

Sri Lanka also received the “Outsourcing Destination of the Year” award from the National Outsourcing Association (NOA), UK twice in a row.

“To evaluate the progress of ICT/BPM exports, we need to continuously measure the growth of it and its contribution to the country’s economy,” Bandula Egodage, chairman and chief executive of the Export Development Board said.

“The government has recognized the industry to be one of the key players in the Sri Lanka. The EDB expects that 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 current status of the industry in relation to its competitors as well as be the basis for Government policy decisions in the future regarding the ICT industry”.

Sri Lanka’s competitive advantage as a destination for doing business in the ICT/BPM sector is built around agility, cost, a niche talent base, ethics, cultural adaptability and superior quality of life.

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