Sri Lanka's digital economy targets 5x growth: Dr. Hans Wijayasuriya

Speaking at Daily FT-CICRA Holdings organised first-ever Data Privacy and Protection Summit says five-year blueprint among other things aims at building trust, empowering citizens, and competing with world through digital excellence Stresses need for innovation-permissive regulation

- BY JANANI KANDARAMAGE

SRI Lanka's digital economy is on course for a significant leap, with a five-year blueprint aiming for a fivefold increase in digital GDP, a tripling in digital exports, and expanding the digital workforce said Chief Presidential Adviser on Digital Economy Dr. Hans Wijayasuriya yesterday.

Speaking at the first-ever Data Privacy and Protection Summit organised by the Daily FT and CICRA Holdings, Dr. Wijayasuriya outlined a trust-driven progressive strategy designed to position Sri Lanka as a global contender in the digital arena.

Outlining an ambitious blueprint, at the Summit attended by over 350 private and public sector personnel at Cinnamon Lakeside Colombo, Dr. Wijayasuriya said Sri Lanka's digital economy—which currently accounts for around 3-4% of GDP—is expected to grow to over 15%, unlocking an economic potential of approximately $ 15 billion. The strategy also targets a threefold increase in digital exports and a doubling of the country's digital workforce to over 200,000 people.

"We are aiming for a step change," he said. "A five-year journey to increase our digital economy's contribution from 3-4% to over 15%, translating into a $ 15 billion target." Beyond these absolute numbers, Dr. Wijayasuriya stressed the importance of relative positioning, pointing out that Sri Lanka currently sits in the third to fourth quartile in global digital readiness.

He added that the nation aims to progress into the second to third quartile by leveraging capability against global frameworks such as India's CHIPS Index-Connect, Harness, Innovate, Protect, and Sustain.