{"id":78533,"date":"2021-11-21T11:35:31","date_gmt":"2021-11-21T11:35:31","guid":{"rendered":"https:\/\/websitedesigns.com.au\/elankanew\/?p=78533"},"modified":"2021-11-21T11:35:31","modified_gmt":"2021-11-21T11:35:31","slug":"ict-industry-in-sri-lanka-expected-to-generate-usd-1-8-billion-revenue-by-2022","status":"publish","type":"post","link":"https:\/\/websitedesigns.com.au\/elankanew\/ict-industry-in-sri-lanka-expected-to-generate-usd-1-8-billion-revenue-by-2022\/","title":{"rendered":"ICT industry in Sri Lanka expected to generate USD 1.8 billion revenue by 2022"},"content":{"rendered":"<h1 style=\"text-align: center;\"><span style=\"font-size: 24px; color: #000000;\">ICT industry in Sri Lanka expected to generate USD 1.8 billion revenue by 2022<\/span><\/h1>\n<p><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium wp-image-78536\" src=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2021\/11\/ICT-industry-in-Sri-Lanka-350x400.jpg\" alt=\"ICT industry in Sri Lanka\" width=\"350\" height=\"400\" \/><\/p>\n<p><strong><span style=\"font-size: 16px; color: #800080;\">Source:<\/span><\/strong><span style=\"color: #000000;\"><a style=\"color: #000000; font-size: 16px;\" href=\"https:\/\/www.dailynews.lk\/2021\/11\/17\/local\/264903\/ict-industry-sri-lanka-expected-generate-usd-18-billion-revenue-2022\" target=\"_blank\" rel=\"noopener noreferrer\">Dailynews<\/a><\/span><\/p>\n<div style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Global leading real estate consultancy firm, Jones Lang LaSalle (JLL), Sri Lanka, in partnership with Information and Communication Technology Agency (ICTA) of Sri Lanka has launched \u2018Sri Lanka: Asia\u2019s next IT\/ITES destination\u2019- a report that highlights the immense capability and growth potential of Sri Lanka in the outsourcing\/offshoring market and provides stakeholders with a holistic view of its IT\/ITeS sector and the opportunities that lie ahead for investors. ICTA is the Sri Lanka Government\u2019s apex ICT agency, designated to drive the country\u2019s digital transformation.<\/span><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The IT\/ITeS industry of Sri Lanka has been performing at an accelerated rate for several years. ICTA, along with the industry stakeholders, estimates that the current IT\/ITeS industry contribution to the economy is around USD 1.2 billion. In the recent past, this growth has picked up\u00a0 further pace due to the knock-on effect of the pandemic, paving the way for higher acceptance of digital technologies at the individual, corporate, industry, and national levels.<\/span><\/div>\n<div><\/div>\n<div><\/div>\n<p><!--more--><\/p>\n<div style=\"text-align: justify;\"><\/div>\n<div>\n<div style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Sri Lanka is the only country in South Asia to achieve a balanced development in the e-government development index 2020 driven by strong socio-economic pillars like institutions, infrastructure, ICT adoption, macroeconomic stability, health, skills, product market, labour market, the financial system, market size, business dynamism and innovation capability.\u00a0<\/span><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Speaking on the findings of the report, Dr. Samantak Das, Chief Economist and Head Research &amp; REIS, India, JLL stated, \u201cGovernment\u2019s regulatory reforms in trade policies to attract foreign direct investments coupled with export-oriented growth model that stimulates private investments are likely to boost an inclusive economic growth of the country. The country\u2019s aim to fulfill its Vision 2025 project that focuses on transitioning the Sri Lankan economy into a knowledge based, highly competitive social market economic model will strengthen Sri Lanka\u2019s position as an emerging hub for IT\/ITeS.\u201d<\/span><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The overall ICT industry of Sri Lanka with its sub-sectors, including IT\/ITeS and telecommunications, is projected to generate USD 1.8 billion revenue by 2022. Furthermore, it is to become a USD 3 billion industry by 2024, through export revenue, entrepreneurship, innovation and digital adoption, creating over 300,000 direct jobs and enabling 1,000 startups in the country.<\/span><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">\u201cSri Lanka has been long known as a niche outsourcing market successfully tackling complex business functions across various industries. Over the past decade, Sri Lanka had been quietly developing into Asia\u2019s next IT\/ITeS destination, with its vast talent pool, efficient infrastructure, supporting business and investment environment, and a high liveability index,\u201d Jerry Kingsley, Head, JLL Sri Lanka stated.<\/span><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Government\u2019s continuous efforts to boost economic growth and expand ICT industry<\/span><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Sri Lanka is one of the low-risk, emerging economies in the world today for investments, reinforced by a strong legal framework and investment facilitation bodies to protect investors. By introducing a series of reforms in trade policies to attract foreign direct investments, which are likely to boost an inclusive economic growth. It has launched several initiatives such as organising Asia\u2019s largest virtual investment forum \u2013 \u2018Invest Sri Lanka \u2013 2021\u2019 as well as several regulatory reforms to improve the country\u2019s ease of doing business status and drive FDI inflows to new heights.\u00a0<\/span><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">\u201cThe Government of Sri Lanka has identified the IT-BPM sector as a thrust industry and has prioritised its enhancement to reaching greater heights. Our goal is to build a digital economy driven by technology entrepreneurs in our quest to increase the export and foreign earnings from the technology sector and related knowledge services. ICTA is also working on an ambitious plan with the industry and the relevant regulatory entities to bridge the country\u2019s digital divide, creating an inclusive digital ecosystem. It is a fundamental necessity to building the technology-based society envisioned in the Government\u2019s national policy,\u201d said Eng. Mahinda B. Herath &#8211; CEO, ICTA.\u00a0<\/span><\/div>\n<div style=\"text-align: justify;\"><\/div>\n<div style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">The virtual press conference was addressed by Jayantha De Silva &#8211; Secretary to the Ministry of Technology, Government of Sri Lanka. Other keynote speakers and panelists included Oshada Senanayake &#8211; Chairman, Information and Communication Technology Agency, Eng. Mahinda B. Herath \u2013 Chief Exectuive Officer, Information and Communication Technology Agency, Denver De Zylva &#8211; Senior Vice President \/ Global Head of Facilities and Sustainability, Virtusa, Timothy Wright &#8211; Vice President Operations &#8211; Sri Lanka, Shangri-La Group, Nuwan Perera &#8211; Board of Directors, SLASSCOM and Vice President \u2013 Software Operations at IFS, Sanjeev Nair &#8211; Senior Director, Work Dynamics.<\/span><\/div>\n<div style=\"text-align: justify;\"><span style=\"font-size: 16px; color: #000000;\">Dr. Samantak Das &#8211; Chief Economist and Head &#8211; Research &amp; REIS (India &amp; Sri Lanka), JLL,. S. Robin, Senior Director \u2013 Consulting, and Jerry Kingsley, Head \u2013 Sri Lanka, JLL were also present.<\/span><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>ICT industry in Sri Lanka expected to generate USD 1.8 billion revenue by 2022 Source:Dailynews Global leading real estate consultancy firm, Jones Lang LaSalle (JLL), Sri Lanka, in partnership with Information and Communication Technology Agency (ICTA) of Sri Lanka has launched \u2018Sri Lanka: Asia\u2019s next IT\/ITES destination\u2019- a report that highlights the immense capability and [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":78536,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"aside","meta":{"footnotes":""},"categories":[20],"tags":[39458,39461,39459,39460,38160],"class_list":{"0":"post-78533","1":"post","2":"type-post","3":"status-publish","4":"format-aside","5":"has-post-thumbnail","7":"category-articles","8":"tag-dr-samantak-das","9":"tag-ict-industry-in-sri-lanka","10":"tag-jayantha-de-silva","11":"tag-mahinda-b-herath","12":"tag-oshada-senanayake","13":"post_format-post-format-aside"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ICT industry in Sri Lanka expected to generate USD 1.8 billion revenue by 2022<\/title>\n<meta name=\"description\" content=\"Global leading real estate consultancy firm, Jones Lang LaSalle (JLL), Sri Lanka, in partnership with Information and Communication\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ICT industry in Sri Lanka expected to generate USD 1.8 billion revenue by 2022\" \/>\n<meta property=\"og:description\" content=\"Global leading real estate consultancy firm, Jones Lang LaSalle (JLL), Sri Lanka, in partnership with Information and Communication\" \/>\n<meta property=\"og:url\" content=\"https:\/\/websitedesigns.com.au\/elankanew\/ict-industry-in-sri-lanka-expected-to-generate-usd-1-8-billion-revenue-by-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"eLanka\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/eLanka.com.au\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-21T11:35:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2021\/11\/ICT-industry-in-Sri-Lanka-scaled-e1637494329517.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"685\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"eLanka admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"eLanka admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/ict-industry-in-sri-lanka-expected-to-generate-usd-1-8-billion-revenue-by-2022\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/ict-industry-in-sri-lanka-expected-to-generate-usd-1-8-billion-revenue-by-2022\/\"},\"author\":{\"name\":\"eLanka admin\",\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/#\/schema\/person\/f6e635b74ab35ef88a68a9973cacc5bd\"},\"headline\":\"ICT industry in Sri Lanka expected to generate USD 1.8 billion revenue by 2022\",\"datePublished\":\"2021-11-21T11:35:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/ict-industry-in-sri-lanka-expected-to-generate-usd-1-8-billion-revenue-by-2022\/\"},\"wordCount\":776,\"publisher\":{\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/#organization\"},\"image\":{\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/ict-industry-in-sri-lanka-expected-to-generate-usd-1-8-billion-revenue-by-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2021\/11\/ICT-industry-in-Sri-Lanka-scaled-e1637494329517.jpg\",\"keywords\":[\"Dr. Samantak Das\",\"ICT industry in Sri Lanka\",\"Jayantha De Silva\",\"Mahinda B. 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